Global Business Travel Group (NYSE:GBTG) Hits New 12-Month High – What’s Next?

Global Business Travel Group, Inc. (NYSE:GBTG)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $9.16 and last traded at $9.13, with a volume of 478481 shares traded. The stock had previously closed at $8.87.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GBTG shares. Evercore ISI boosted their price target on Global Business Travel Group from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Citigroup boosted their price target on Global Business Travel Group from $9.00 to $9.50 and gave the stock a “buy” rating in a research note on Friday, October 4th.

Global Business Travel Group Stock Performance

The business has a fifty day simple moving average of $7.75 and a 200 day simple moving average of $6.96. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.24.

Global Business Travel Group (NYSE:GBTG) last announced its 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 for the quarter, compared to analyst estimates of $611.89 million. Global Business Travel Group had a negative net margin of 7.06% and a negative return on equity of 9.70%. During the same quarter last year, the company posted ($0.02) EPS. As a group, equities research analysts forecast that Global Business Travel Group, Inc. will post -0.17 earnings per share for the current year.

Global Business Travel Group announced that its board has initiated a stock repurchase 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 typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Global Business Travel Group

Several hedge funds have recently made changes to their positions in the business. Amalgamated Bank raised its position in shares of Global Business Travel Group by 299.1% in the 2nd quarter. Amalgamated Bank now owns 4,342 shares of the company’s stock worth $29,000 after buying an additional 3,254 shares during the period. Vanguard Group Inc. raised its position in shares of Global Business Travel Group by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 971,900 shares of the company’s stock worth $5,841,000 after buying an additional 10,446 shares during the period. Verition Fund Management LLC purchased a new position in shares of Global Business Travel Group in the 3rd quarter worth $98,000. Principal Financial Group Inc. purchased a new position in shares of Global Business Travel Group in the 2nd quarter worth $108,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Global Business Travel Group by 31.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 71,901 shares of the company’s stock worth $553,000 after buying an additional 17,313 shares during the period. Institutional investors and hedge funds own 82.46% of the company’s stock.

Global Business Travel Group Company Profile

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.