Global Business Travel Group, Inc. (NYSE:GBTG) Short Interest Up 142.7% in September

Global Business Travel Group, Inc. (NYSE:GBTG) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 7,670,000 shares, a growth of 142.7% from the September 15th total of 3,160,000 shares. Based on an average daily trading volume, of 1,030,000 shares, the days-to-cover ratio is currently 7.4 days. Currently, 4.2% of the shares of the company are sold short.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on GBTG shares. Citigroup upped their price target on Global Business Travel Group from $9.00 to $9.50 and gave the company a “buy” rating in a research report on Friday, October 4th. Evercore ISI upped their price target on Global Business Travel Group from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th.

Global Business Travel Group Price Performance

Shares of GBTG stock traded up $0.08 during trading on Friday, hitting $7.54. The company had a trading volume of 373,748 shares, compared to its average volume of 611,926. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.11. The stock’s 50-day moving average is $7.16 and its two-hundred day moving average is $6.57. Global Business Travel Group has a 52 week low of $4.49 and a 52 week high of $7.79.

Global Business Travel Group (NYSE:GBTG) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.11. The firm had revenue of $625.00 million during the quarter, compared to analyst estimates of $643.97 million. Global Business Travel Group had a negative return on equity of 1.26% and a negative net margin of 1.66%. Research analysts predict that Global Business Travel Group will post -0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Global Business Travel Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank raised its position in shares of Global Business Travel Group by 299.1% in the 2nd quarter. Amalgamated Bank now owns 4,342 shares of the company’s stock worth $29,000 after purchasing an additional 3,254 shares during the last quarter. Vanguard Group Inc. raised its position in Global Business Travel Group by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 971,900 shares of the company’s stock worth $5,841,000 after buying an additional 10,446 shares during the last quarter. Principal Financial Group Inc. purchased a new position in Global Business Travel Group in the 2nd quarter worth about $108,000. ANTIPODES PARTNERS Ltd purchased a new position in Global Business Travel Group in the 1st quarter worth about $109,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Global Business Travel Group in the 2nd quarter worth about $143,000. Hedge funds and other institutional investors own 82.46% of the company’s stock.

About Global Business Travel Group

Global Business Travel Group, Inc provides business-to-business (B2B) travel platform in the United States and internationally. The company's platform offers a suite of technology-enabled solutions to business travelers and clients; travel content suppliers, such as airlines, hotels, ground transportation, and aggregators; and third-party travel agencies.