Global Business Travel Group (NYSE:GBTG) Sees Unusually-High Trading Volume – Here’s Why

Shares of Global Business Travel Group, Inc. (NYSE:GBTG) saw unusually-strong trading volume on Monday . Approximately 7,110,477 shares traded hands during trading, an increase of 168% from the previous session’s volume of 2,653,565 shares.The stock last traded at $9.3450 and had previously closed at $9.34.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GBTG shares. Lake Street Capital set a $9.50 target price on Global Business Travel Group in a research note on Monday, May 4th. Morgan Stanley dropped their price target on 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. BTIG Research cut Global Business Travel Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft set a $8.20 price target on Global Business Travel Group in a research note on Wednesday, March 11th. Finally, Weiss Ratings upgraded Global Business Travel Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $8.90.

Global Business Travel Group Stock Performance

The firm has a market capitalization of $4.87 billion, a P/E ratio of 54.97 and a beta of 0.93. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.90. The company has a 50-day moving average of $7.10 and a 200-day moving average of $6.96.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Quantbot Technologies LP bought a new position in Global Business Travel Group during the 3rd quarter worth $26,000. Northwestern Mutual Wealth Management Co. bought a new position in Global Business Travel Group during the 4th quarter worth $32,000. Advisory Services Network LLC acquired a new stake in Global Business Travel Group during the 3rd quarter worth about $61,000. Russell Investments Group Ltd. grew its holdings in Global Business Travel Group by 1,238.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 9,024 shares of the company’s stock worth $73,000 after acquiring an additional 8,350 shares during the period. Finally, CIBC Bancorp USA Inc. acquired a new stake in Global Business Travel Group during the 3rd quarter worth about $81,000. 82.46% of the stock is owned by institutional investors.

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.