Global Business Travel Group (NYSE:GBTG) CEO Paul Abbott Sells 216,523 Shares

Global Business Travel Group, Inc. (NYSE:GBTG) CEO Paul Abbott sold 216,523 shares of Global Business Travel Group stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $9.35, for a total value of $2,024,490.05. Following the completion of the transaction, the chief executive officer directly owned 3,157,228 shares in the company, valued at $29,520,081.80. This represents a 6.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Global Business Travel Group Trading Down 0.1%

Shares of GBTG opened at $9.35 on Thursday. The business’s 50-day moving average price is $7.72 and its 200 day moving average price is $7.08. The stock has a market capitalization of $4.87 billion, a P/E ratio of 54.97 and a beta of 0.93. Global Business Travel Group, Inc. has a 1-year low of $4.95 and a 1-year high of $9.54. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.90.

Global Business Travel Group (NYSE:GBTG) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. Global Business Travel Group had a return on equity of 2.51% and a net margin of 2.93%.The firm had revenue of $840.00 million for the quarter, compared to analysts’ expectations of $814.55 million. The company’s quarterly revenue was up 35.3% compared to the same quarter last year. Analysts expect that Global Business Travel Group, Inc. will post 0.18 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GBTG. Evercore lowered Global Business Travel Group from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Bank of America began coverage on Global Business Travel Group in a research report on Tuesday, April 7th. They set a “neutral” rating and a $6.50 target price for the company. Weiss Ratings upgraded Global Business Travel Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Citigroup dropped their price target on shares of Global Business Travel Group from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, March 12th. Finally, UBS Group cut their price target on Global Business Travel Group from $11.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, March 10th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $8.90.

Institutional Trading of Global Business Travel Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Redwood Capital Management LLC bought a new stake in shares of Global Business Travel Group during the third quarter valued at approximately $173,347,000. Vanguard Group Inc. increased its position in shares of Global Business Travel Group by 24.7% during the fourth quarter. Vanguard Group Inc. now owns 13,857,451 shares of the company’s stock valued at $106,010,000 after purchasing an additional 2,744,068 shares during the period. Attestor Capital Ltd bought a new stake in shares of Global Business Travel Group during the fourth quarter valued at approximately $67,917,000. Monarch Alternative Capital LP increased its position in shares of Global Business Travel Group by 9.3% during the first quarter. Monarch Alternative Capital LP now owns 7,800,000 shares of the company’s stock valued at $43,524,000 after purchasing an additional 661,418 shares during the period. Finally, Anchorage Capital Advisors L.P. bought a new stake in shares of Global Business Travel Group during the third quarter valued at approximately $58,073,000. 82.46% of the stock is currently owned by institutional investors.

Global Business Travel Group Company Profile

Global Business Travel Group (NYSE: GBTG), formerly known as American Express Global Business Travel, is a provider of end-to-end corporate travel management solutions. The company helps organizations plan, book and manage business travel, meetings and events through an integrated suite of services. Its offerings include traveller support, expense management, virtual and in-person meeting services, data analytics and duty-of-care solutions tailored to enterprise customers.

Operating under a global network of offices and digital platforms, Global Business Travel Group serves clients across the Americas, EMEA and Asia Pacific.