BTIG Research Drops Coverage on Global Business Travel Group (NYSE:GBTG)

BTIG Research dropped coverage on shares of Global Business Travel Group (NYSE:GBTG) in a note issued to investors on Wednesday, September 30th, Benzinga reports. The firm had previously set a “neutral” rating on the stock.

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Global Business Travel Group in a report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $8.89.

Global Business Travel Group Price Performance

Shares of GBTG stock remained flat at $9.50 on Wednesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.20 and a quick ratio of 1.20. Global Business Travel Group has a twelve month low of $4.95 and a twelve month high of $9.56. The company has a 50 day moving average of $9.48 and a two-hundred day moving average of $8.10. The company has a market cap of $4.96 billion, a P/E ratio of 55.88 and a beta of 0.93.

Global Business Travel Group (NYSE:GBTG) last released its earnings results on Tuesday, August 4th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.03). Global Business Travel Group had a net margin of 2.77% and a return on equity of 2.47%. The business had revenue of $870.00 million for the quarter, compared to the consensus estimate of $810.60 million. During the same period in the prior year, the business posted $0.03 EPS. Global Business Travel Group’s revenue for the quarter was up 37.9% on a year-over-year basis. On average, sell-side analysts forecast that Global Business Travel Group will post 0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Global Business Travel Group news, President Andrew George Crawley sold 332,662 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $9.43, for a total value of $3,137,002.66. Following the sale, the president owned 699,176 shares of the company’s stock, valued at $6,593,229.68. This trade represents a 32.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric J. Bock sold 64,780 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $9.46, for a total transaction of $612,818.80. Following the completion of the sale, the insider directly owned 699,177 shares in the company, valued at approximately $6,614,214.42. This trade represents a 8.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 777,442 shares of company stock valued at $7,333,521 in the last quarter. Insiders own 5.40% of the company’s stock.

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. Maven Securities LTD bought a new stake in Global Business Travel Group in the 2nd quarter worth $2,547,000. Squarepoint Ops LLC bought a new stake in Global Business Travel Group in the 2nd quarter worth $179,000. Allworth Financial LP grew its holdings in Global Business Travel Group by 683.3% in the 2nd quarter. Allworth Financial LP now owns 3,713 shares of the company’s stock worth $35,000 after acquiring an additional 3,239 shares during the last quarter. Arizona State Retirement System grew its holdings in Global Business Travel Group by 6.8% in the 2nd quarter. Arizona State Retirement System now owns 31,047 shares of the company’s stock worth $292,000 after acquiring an additional 1,966 shares during the last quarter. Finally, Carmignac Gestion bought a new stake in Global Business Travel Group in the 2nd quarter worth $2,972,000. Institutional investors own 82.46% of the company’s stock.

Global Business Travel Group Company Profile

Global Business Travel Group, Inc is a business-to-business travel services company that provides corporate travel, meetings and events, and related travel-management solutions. Through its American Express Global Business Travel business, the company helps organizations plan, book, manage, and optimize employee travel while supporting travelers and travel managers with technology, consulting, and service capabilities.

The company’s offerings include corporate travel booking and servicing, travel policy and program management, meetings and events management, and travel and expense-related solutions.