Global Business Travel Group (NYSE:GBTG) Reaches New 12-Month High at $7.61

Shares of Global Business Travel Group, Inc. (NYSE:GBTG) hit a new 52-week high during trading on Monday . The stock traded as high as $7.61 and last traded at $7.61, with a volume of 877469 shares traded. The stock had previously closed at $7.48.

Wall Street Analysts Forecast Growth

GBTG has been the subject of several research analyst reports. Evercore ISI upped their price target on shares of Global Business Travel Group from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Citigroup upped their price target on shares of Global Business Travel Group from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th.

Global Business Travel Group Stock Up 1.3 %

The firm’s 50-day moving average price is $6.93 and its 200-day moving average price is $6.39. The company has a market cap of $3.58 billion, a price-to-earnings ratio of -19.18 and a beta of 0.63. 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 released its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.11. Global Business Travel Group had a negative net margin of 1.66% and a negative return on equity of 1.26%. The company had revenue of $625.00 million during the quarter, compared to analyst estimates of $643.97 million. Sell-side analysts forecast that Global Business Travel Group, Inc. will post -0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Global Business Travel Group

A number of large investors have recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC acquired a new stake in Global Business Travel Group during the 2nd quarter valued at $143,000. The Manufacturers Life Insurance Company grew its holdings in Global Business Travel Group by 70.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 54,588 shares of the company’s stock valued at $360,000 after purchasing an additional 22,650 shares in the last quarter. Marshall Wace LLP acquired a new stake in Global Business Travel Group during the 2nd quarter valued at $489,000. Amalgamated Bank grew its holdings in Global Business Travel Group by 299.1% during the 2nd quarter. Amalgamated Bank now owns 4,342 shares of the company’s stock valued at $29,000 after purchasing an additional 3,254 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Global Business Travel Group by 431.2% during the 2nd quarter. Renaissance Technologies LLC now owns 105,700 shares of the company’s stock valued at $698,000 after purchasing an additional 85,800 shares in the last quarter. 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.