Global Business Travel Group (NYSE:GBTG) Reaches New 1-Year High – Should You Buy?

Global Business Travel Group, Inc. (NYSE:GBTG)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $9.16 and last traded at $9.13, with a volume of 478481 shares traded. The stock had previously closed at $8.87.

Analyst Upgrades and Downgrades

GBTG has been the subject of several research reports. Evercore ISI upped their price target on shares of 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. Citigroup upped their price objective on Global Business Travel Group from $9.00 to $9.50 and gave the stock a “buy” rating in a research note on Friday, October 4th.

Global Business Travel Group Price Performance

The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.56 and a current ratio of 1.56. The firm has a 50-day moving average of $7.83 and a 200-day moving average of $6.99.

Global Business Travel Group (NYSE:GBTG) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.14). Global Business Travel Group had a negative net margin of 7.06% and a negative return on equity of 9.70%. The company had revenue of $597.00 million during the quarter, compared to the consensus estimate of $611.89 million. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. As a group, research analysts anticipate that Global Business Travel Group, Inc. will post -0.17 EPS for the current year.

Global Business Travel Group declared that its board has authorized a stock repurchase plan on Tuesday, November 5th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to buy up to 8.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Global Business Travel Group

A number of hedge funds have recently bought and sold shares of GBTG. Vanguard Group Inc. boosted its stake in Global Business Travel Group by 1.1% during the first 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 period. Ionic Capital Management LLC grew its stake in shares of Global Business Travel Group by 480.1% during the first quarter. Ionic Capital Management LLC now owns 131,245 shares of the company’s stock valued at $789,000 after buying an additional 108,619 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of Global Business Travel Group in the first quarter worth approximately $3,383,000. Bank of New York Mellon Corp lifted its stake in shares of Global Business Travel Group by 1,116.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,007,861 shares of the company’s stock worth $6,652,000 after acquiring an additional 925,018 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new stake in shares of Global Business Travel Group during the 2nd quarter worth approximately $108,000. 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.