Eric Bock Sells 64,780 Shares of Global Business Travel Group (NYSE:GBTG) Stock

Global Business Travel Group, Inc. (NYSE:GBTG) insider Eric Bock sold 64,780 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $9.46, for a total transaction of $612,818.80. Following the transaction, the insider directly owned 699,177 shares of the company’s stock, valued at $6,614,214.42. This represents a 8.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Global Business Travel Group Trading Down 0.1%

Shares of GBTG opened at $9.46 on Thursday. The business has a 50-day moving average of $9.42 and a 200 day moving average of $7.79. Global Business Travel Group, Inc. has a fifty-two week low of $4.95 and a fifty-two week high of $9.54. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.20 and a current ratio of 1.20. The firm has a market cap of $4.94 billion, a P/E ratio of 55.65 and a beta of 0.93.

Global Business Travel Group (NYSE:GBTG) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $810.60 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The business’s quarterly revenue was up 37.9% compared to the same quarter last year. As a group, research analysts forecast that Global Business Travel Group, Inc. will post 0.18 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Lake Street Capital set a $9.50 target price on Global Business Travel Group in a research report on Monday, May 4th. BTIG Research downgraded shares of Global Business Travel Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 4th. Wall Street Zen downgraded Global Business Travel Group from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Global Business Travel Group in a report on Wednesday, August 12th. Finally, Evercore cut shares of Global Business Travel Group from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $8.90.

Hedge Funds Weigh In On Global Business Travel Group

Hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its stake in shares of Global Business Travel Group by 846.3% in the second quarter. California State Teachers Retirement System now owns 1,203,122 shares of the company’s stock worth $11,297,000 after purchasing an additional 1,075,984 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Global Business Travel Group in the 2nd quarter worth approximately $4,108,000. Stoneridge Investment Partners LLC purchased a new position in shares of Global Business Travel Group during the 2nd quarter worth $95,000. Handelsbanken Fonder AB lifted its position in Global Business Travel Group by 28.2% during the second quarter. Handelsbanken Fonder AB now owns 39,600 shares of the company’s stock valued at $372,000 after purchasing an additional 8,700 shares in the last quarter. Finally, Amundi lifted its position in shares of Global Business Travel Group by 145.3% during the 1st quarter. Amundi now owns 30,218 shares of the company’s stock valued at $169,000 after buying an additional 17,899 shares in the last quarter. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

About Global Business Travel Group

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.