Global Business Travel Group (NYSE:GBTG) Sets New 12-Month High at $7.45

Global Business Travel Group, Inc. (NYSE:GBTG)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $7.45 and last traded at $7.45, with a volume of 48395 shares traded. The stock had previously closed at $7.36.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GBTG shares. Evercore ISI raised their price target on Global Business Travel Group from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Citigroup upped their target price on shares of Global Business Travel Group from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday, August 8th.

Global Business Travel Group Trading Up 0.9 %

The company’s 50 day simple moving average is $6.89 and its 200-day simple moving average is $6.36. The firm has a market cap of $3.53 billion, a P/E ratio of -19.13 and a beta of 0.63. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.11.

Global Business Travel Group (NYSE:GBTG) last released its earnings results on Tuesday, August 6th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.11. The business had revenue of $625.00 million during the quarter, compared to the consensus estimate of $643.97 million. Global Business Travel Group had a negative return on equity of 1.26% and a negative net margin of 1.66%. As a group, research analysts predict that Global Business Travel Group, Inc. will post -0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Global Business Travel Group

A number of institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its holdings in shares of Global Business Travel Group by 1,116.6% in the second quarter. Bank of New York Mellon Corp now owns 1,007,861 shares of the company’s stock valued at $6,652,000 after purchasing an additional 925,018 shares during the period. Vanguard Group Inc. lifted its holdings 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. Par Capital Management Inc. grew its position in shares of Global Business Travel Group by 42.1% during the 4th quarter. Par Capital Management Inc. now owns 770,000 shares of the company’s stock worth $4,966,000 after buying an additional 228,149 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of Global Business Travel Group during the first quarter valued at $3,383,000. Finally, Rhumbline Advisers raised its holdings in shares of Global Business Travel Group by 419.3% in the second quarter. Rhumbline Advisers now owns 143,883 shares of the company’s stock valued at $950,000 after acquiring an additional 116,175 shares in the last quarter. 82.46% of the stock is owned by hedge funds and other institutional investors.

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.