Paul Abbott Sells 216,523 Shares of Global Business Travel Group (NYSE:GBTG) Stock

Global Business Travel Group, Inc. (NYSE:GBTGGet Free Report) CEO Paul Abbott sold 216,523 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $9.35, for a total transaction of $2,024,490.05. Following the completion of the sale, the chief executive officer directly owned 3,157,228 shares in the company, valued at approximately $29,520,081.80. The trade was a 6.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Global Business Travel Group Price Performance

Shares of Global Business Travel Group stock traded down $0.01 during mid-day trading on Wednesday, reaching $9.35. 3,532,760 shares of the stock were exchanged, compared to its average volume of 2,846,531. 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 market cap of $4.87 billion, a price-to-earnings ratio of 54.97 and a beta of 0.93. The firm has a 50-day simple moving average of $7.64 and a 200 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 (NYSE:GBTGGet Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. The firm had revenue of $840.00 million for the quarter, compared to analyst estimates of $814.55 million. Global Business Travel Group had a net margin of 2.93% and a return on equity of 2.51%. The firm’s revenue for the quarter was up 35.3% on a year-over-year basis. On average, sell-side analysts predict that Global Business Travel Group, Inc. will post 0.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Quantbot Technologies LP acquired a new position in Global Business Travel Group during the 3rd quarter worth $26,000. Northwestern Mutual Wealth Management Co. acquired a new position in Global Business Travel Group during the 4th quarter worth $32,000. Advisory Services Network LLC acquired a new position in Global Business Travel Group during the 3rd quarter worth $61,000. Russell Investments Group Ltd. lifted 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 buying an additional 8,350 shares in the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new position in Global Business Travel Group during the 3rd quarter worth $81,000. Institutional investors and hedge funds own 82.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GBTG shares. Weiss Ratings raised Global Business Travel Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 15th. BTIG Research lowered Global Business Travel Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 4th. Wall Street Zen lowered Global Business Travel Group from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. UBS Group cut their price target on Global Business Travel Group from $11.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, March 10th. Finally, Morgan Stanley cut 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 report on Monday, March 9th. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Global Business Travel Group has an average rating of “Hold” and a consensus price target of $8.90.

Get Our Latest Stock Report on GBTG

About Global Business Travel Group

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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.

Further Reading

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