Global Business Travel Group (NYSE:GBTG) Hits New 12-Month High – Time to Buy?

Global Business Travel Group, Inc. (NYSE:GBTG) hit a new 52-week high during trading on Monday . The company traded as high as $9.65 and last traded at $9.65, with a volume of 327 shares traded. The stock had previously closed at $9.44.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Citigroup upped their price objective on shares of Global Business Travel Group from $9.00 to $9.50 and gave the stock a “buy” rating in a research report on Friday, October 4th. UBS Group started coverage on shares of Global Business Travel Group in a report on Friday. They set a “buy” rating and a $11.00 price target for the company. Finally, Evercore ISI boosted 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 note on Wednesday, August 7th.

Global Business Travel Group Trading Down 0.1 %

The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.24. The stock’s fifty day simple moving average is $7.91 and its 200-day simple moving average is $7.05.

Global Business Travel Group (NYSE:GBTG) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.22) 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 firm had revenue of $597.00 million during the quarter, compared to analysts’ expectations of $611.89 million. During the same period in the prior year, the company posted ($0.02) earnings per share. Equities analysts expect that Global Business Travel Group, Inc. will post -0.17 earnings per share for the current fiscal year.

Global Business Travel Group announced that its board has authorized a share repurchase program on Tuesday, November 5th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 8.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Trading of Global Business Travel Group

Several institutional investors have recently modified their holdings of GBTG. Bank of New York Mellon Corp raised its holdings in shares of Global Business Travel Group by 1,116.6% in the second quarter. Bank of New York Mellon Corp now owns 1,007,861 shares of the company’s stock valued at $6,652,000 after buying an additional 925,018 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of Global Business Travel Group during the 1st quarter worth $3,383,000. Geode Capital Management LLC grew its position in Global Business Travel Group by 19.8% during the third quarter. Geode Capital Management LLC now owns 2,339,395 shares of the company’s stock worth $17,993,000 after buying an additional 386,636 shares during the period. State Street Corp grew its holdings in shares of Global Business Travel Group by 21.7% in the 3rd quarter. State Street Corp now owns 1,946,990 shares of the company’s stock worth $14,972,000 after acquiring an additional 346,540 shares during the period. Finally, Advantage Alpha Capital Partners LP purchased a new position in shares of Global Business Travel Group in the third quarter valued at $2,077,000. Hedge funds and other institutional investors own 82.46% of the company’s stock.

Global Business Travel Group Company Profile

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.