Insider Selling: Global Business Travel Group (NYSE:GBTG) CEO Sells 173,460 Shares of Stock

Global Business Travel Group, Inc. (NYSE:GBTG) CEO Paul Abbott sold 173,460 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $9.36, for a total value of $1,623,585.60. Following the completion of the transaction, the chief executive officer owned 3,373,751 shares of the company’s stock, valued at $31,578,309.36. The trade was a 4.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Global Business Travel Group Stock Down 0.1%

Shares of NYSE GBTG traded down $0.01 during mid-day trading on Wednesday, hitting $9.35. The company had a trading volume of 3,532,760 shares, compared to its average volume of 2,846,531. The company has a market capitalization of $4.87 billion, a PE ratio of 54.97 and a beta of 0.93. The firm has a 50-day simple moving average of $7.64 and a two-hundred day simple moving average of $7.06. 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, Inc. has a one year low of $4.95 and a one year high of $9.54.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Morgan Stanley cut their target price on shares of Global Business Travel Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Monday, March 9th. Lake Street Capital set a $9.50 price objective on Global Business Travel Group in a research note on Monday, May 4th. UBS Group cut their price objective on Global Business Travel Group from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, March 10th. Bank of America began coverage on Global Business Travel Group in a research note on Tuesday, April 7th. They set a “neutral” rating and a $6.50 target price for the company. Finally, Citigroup dropped their price target on Global Business Travel Group from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday, March 12th. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Global Business Travel Group has an average rating of “Hold” and an average price target of $8.90.

Institutional Investors Weigh In On Global Business Travel Group

Several hedge funds have recently bought and sold shares of GBTG. AQR Capital Management LLC lifted its position in Global Business Travel Group by 169.9% during the first quarter. AQR Capital Management LLC now owns 64,060 shares of the company’s stock worth $465,000 after acquiring an additional 40,328 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Global Business Travel Group by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,576 shares of the company’s stock worth $541,000 after acquiring an additional 3,238 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Global Business Travel Group by 66.6% during the first quarter. Goldman Sachs Group Inc. now owns 736,472 shares of the company’s stock worth $5,347,000 after acquiring an additional 294,527 shares during the last quarter. Creative Planning acquired a new stake in Global Business Travel Group during the second quarter worth approximately $67,000. Finally, Legal & General Group Plc lifted its position in Global Business Travel Group by 4.0% during the second quarter. Legal & General Group Plc now owns 112,365 shares of the company’s stock worth $708,000 after acquiring an additional 4,308 shares during the last quarter. 82.46% of the stock is currently owned by institutional investors and hedge funds.

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.