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 mid-day trading on Monday . The stock traded as high as $9.65 and last traded at $9.65, with a volume of 327 shares trading hands. The stock had previously closed at $9.44.

Analysts Set New Price Targets

GBTG has been the subject of several research analyst reports. Evercore ISI boosted their price objective on 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 Global Business Travel Group from $9.00 to $9.50 and gave the stock a “buy” rating in a report on Friday, October 4th. Finally, UBS Group initiated coverage on shares of Global Business Travel Group in a research note on Friday, November 22nd. They issued a “buy” rating and a $11.00 price objective on the stock.

Global Business Travel Group Trading Up 0.4 %

The business has a 50-day moving average of $8.00 and a two-hundred day moving average of $7.09. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of -26.39 and a beta of 0.63.

Global Business Travel Group (NYSE:GBTG) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.14). The firm had revenue of $597.00 million for the quarter, compared to the consensus estimate 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 in the prior year, the firm posted ($0.02) earnings per share. Research analysts predict that Global Business Travel Group, Inc. will post -0.17 EPS for the current fiscal year.

Global Business Travel Group declared that its board has initiated a stock buyback program on Tuesday, November 5th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to buy up to 8.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Global Business Travel Group

A number of institutional investors have recently added to or reduced their stakes in GBTG. Amalgamated Bank raised its holdings 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 in the last quarter. Verition Fund Management LLC bought a new stake in Global Business Travel Group in the third quarter valued at $98,000. Principal Financial Group Inc. acquired a new position in Global Business Travel Group during the second quarter worth $108,000. Quadrature Capital Ltd bought a new position in shares of Global Business Travel Group during the third quarter valued at $137,000. 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.