Global Business Travel Group (NYSE:GBTG) Sets New 1-Year High – Here’s What Happened

Global Business Travel Group, Inc. (NYSE:GBTG) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $8.39 and last traded at $8.23, with a volume of 48415 shares traded. The stock had previously closed at $7.73.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Evercore ISI lifted their price objective on shares of Global Business Travel Group from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Citigroup lifted their price target on Global Business Travel Group from $9.00 to $9.50 and gave the stock a “buy” rating in a report on Friday, October 4th.

Global Business Travel Group Stock Performance

The stock has a market capitalization of $3.92 billion, a P/E ratio of -85.00 and a beta of 0.63. The stock’s 50-day simple moving average is $7.47 and its 200 day simple moving average is $6.79. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.65 and a quick ratio of 1.65.

Global Business Travel Group (NYSE:GBTG) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.14). The company had revenue of $597.00 million during the quarter, compared to analyst estimates of $611.89 million. Global Business Travel Group had a negative net margin of 1.66% and a negative return on equity of 1.26%. During the same quarter last year, the company posted ($0.02) EPS. Research analysts expect that Global Business Travel Group, Inc. will post -0.08 EPS for the current fiscal year.

Global Business Travel Group declared that its Board of Directors has initiated a share buyback program on Tuesday, November 5th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to buy up to 8.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Global Business Travel Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Entropy Technologies LP bought a new position in shares of Global Business Travel Group in the third quarter worth $145,000. Jag Capital Management LLC bought a new stake in shares of Global Business Travel Group during the 3rd quarter worth approximately $171,000. American Capital Advisory LLC bought a new position in Global Business Travel Group in the third quarter valued at approximately $568,000. SG Americas Securities LLC acquired a new position in Global Business Travel Group during the third quarter valued at approximately $373,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Global Business Travel Group in the 2nd quarter valued at $143,000. 82.46% of the stock is owned by institutional investors and hedge funds.

About Global Business Travel Group

Global Business Travel Group, Inc provides business-to-business (B2B) travel platform in the United States and internationally. The company's platform offers a suite of technology-enabled solutions to business travelers and clients; travel content suppliers, such as airlines, hotels, ground transportation, and aggregators; and third-party travel agencies.