Eric Bock Sells 10,000 Shares of Global Business Travel Group (NYSE:GBTG) Stock

Global Business Travel Group, Inc. (NYSE:GBTG – Get Free Report) insider Eric Bock sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $9.46, for a total transaction of $94,600.00. Following the transaction, the insider directly owned 763,957 shares in the company, valued at approximately $7,227,033.22. This represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Global Business Travel Group Price Performance

Shares of Global Business Travel Group stock opened at $9.46 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 55.65 and a beta of 0.93. Global Business Travel Group, Inc. has a twelve month low of $4.95 and a twelve month high of $9.54. The company has a 50-day simple moving average of $9.41 and a two-hundred day simple moving average of $7.71.

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Global Business Travel Group (NYSE:GBTG – Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). Global Business Travel Group had a return on equity of 2.47% and a net margin of 2.77%.The business had revenue of $870.00 million for the quarter, compared to analyst estimates of $810.60 million. During the same quarter in the previous year, the company earned $0.03 EPS. The business’s revenue for the quarter was up 37.9% on a year-over-year basis. Analysts forecast that Global Business Travel Group, Inc. will post 0.18 EPS for the current year.

Institutional Investors Weigh In On Global Business Travel Group

Large investors have recently modified their holdings of the business. Bank of New York Mellon Corp bought a new position in shares of Global Business Travel Group in the 2nd quarter valued at $4,108,000. Stoneridge Investment Partners LLC bought a new position in Global Business Travel Group in the second quarter valued at about $95,000. Handelsbanken Fonder AB raised its stake 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 worth $372,000 after acquiring an additional 8,700 shares in the last quarter. Amundi lifted its holdings in shares of Global Business Travel Group by 145.3% in the first quarter. Amundi now owns 30,218 shares of the company’s stock worth $169,000 after acquiring an additional 17,899 shares during the last quarter. Finally, California State Teachers Retirement System lifted its holdings in shares of Global Business Travel Group by 43.0% in the first quarter. California State Teachers Retirement System now owns 127,138 shares of the company’s stock worth $709,000 after acquiring an additional 38,242 shares during the last quarter. Institutional investors and hedge funds own 82.46% of the company’s stock.

Analyst Upgrades and Downgrades

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

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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.

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