Global Business Travel Group (NYSE:GBTG) CEO Sells $1,623,585.60 in Stock

Global Business Travel Group, Inc. (NYSE:GBTG) CEO Paul Abbott sold 173,460 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $9.36, for a total value of $1,623,585.60. Following the sale, the chief executive officer directly owned 3,373,751 shares in the company, valued at $31,578,309.36. The trade was a 4.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Global Business Travel Group Trading Down 0.1%

Global Business Travel Group stock traded down $0.01 during mid-day trading on Wednesday, hitting $9.35. 3,532,760 shares of the company’s stock were exchanged, compared to its average volume of 2,846,531. The firm 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 fifty-two week low of $4.95 and a fifty-two week high of $9.54. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.90. The company’s 50 day simple moving average is $7.64 and its 200-day simple moving average is $7.06.

Global Business Travel Group (NYSE:GBTG) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.05 by $0.05. The business had revenue of $840.00 million for the quarter, compared to the consensus estimate 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 anticipate that Global Business Travel Group, Inc. will post 0.18 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on GBTG. Weiss Ratings raised Global Business Travel Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Evercore cut Global Business Travel Group from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Citigroup lowered their target price on Global Business Travel Group from $11.00 to $9.00 and set a “buy” rating for the company in a report on Thursday, March 12th. Bank of America initiated coverage on Global Business Travel Group in a report on Tuesday, April 7th. They set a “neutral” rating and a $6.50 target price for the company. Finally, Lake Street Capital set a $9.50 target price on Global Business Travel Group 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $8.90.

Hedge Funds Weigh In On Global Business Travel Group

Large investors have recently added to or reduced their stakes in the company. Monarch Alternative Capital LP bought a new position in Global Business Travel Group during the 3rd quarter worth about $57,680,000. Anchorage Capital Advisors L.P. bought a new position in shares of Global Business Travel Group in the 3rd quarter valued at about $58,073,000. SG Americas Securities LLC bought a new position in shares of Global Business Travel Group in the 4th quarter valued at about $1,667,000. Boundary Creek Advisors LP bought a new position in shares of Global Business Travel Group in the 3rd quarter valued at about $22,911,000. Finally, PB Investment Partners L.P. grew its holdings in shares of Global Business Travel Group by 11.3% in the 3rd quarter. PB Investment Partners L.P. now owns 930,119 shares of the company’s stock valued at $7,515,000 after acquiring an additional 94,623 shares in the last quarter. Institutional investors own 82.46% of the company’s stock.

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.