Global Business Travel Group (NYSE:GBTG) Coverage Initiated at Bank of America

Research analysts at Bank of America assumed coverage on shares of Global Business Travel Group (NYSE:GBTG) in a note issued to investors on Tuesday,Benzinga reports. The firm set a “neutral” rating and a $6.50 price target on the stock. Bank of America‘s price objective would indicate a potential upside of 13.14% from the company’s current price.

A number of other research analysts also recently issued reports on the company. Morgan Stanley reduced their price objective on Global Business Travel Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Monday, March 9th. BTIG Research reduced their price objective on Global Business Travel Group from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Monday, March 9th. Wall Street Zen downgraded Global Business Travel Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Citigroup reduced their price objective on Global Business Travel Group from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, March 12th. Finally, UBS Group reduced their price objective on Global Business Travel Group from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $8.92.

Global Business Travel Group Trading Up 3.3%

Shares of Global Business Travel Group stock opened at $5.75 on Tuesday. The stock has a fifty day simple moving average of $5.65 and a 200 day simple moving average of $7.04. Global Business Travel Group has a 12-month low of $4.95 and a 12-month high of $8.64. The company has a market capitalization of $3.01 billion, a P/E ratio of 24.98 and a beta of 0.75. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.84.

Global Business Travel Group (NYSE:GBTG) last announced its quarterly earnings results on Monday, March 9th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.04. The business had revenue of $792.00 million during the quarter, compared to the consensus estimate of $789.48 million. Global Business Travel Group had a return on equity of 6.20% and a net margin of 4.01%. On average, sell-side analysts anticipate that Global Business Travel Group will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Monarch Alternative Capital LP bought a new position in shares of Global Business Travel Group during the 3rd quarter worth $57,680,000. Anchorage Capital Advisors L.P. bought a new position in shares of Global Business Travel Group during the 3rd quarter worth $58,073,000. Boundary Creek Advisors LP bought a new position in shares of Global Business Travel Group during the 3rd quarter worth $22,911,000. Ares Management LLC grew its stake in shares of Global Business Travel Group by 21.8% during the 2nd quarter. Ares Management LLC now owns 13,886,023 shares of the company’s stock worth $87,482,000 after acquiring an additional 2,489,506 shares during the period. Finally, Ballast Asset Management LP grew its stake in shares of Global Business Travel Group by 27.2% during the 3rd quarter. Ballast Asset Management LP now owns 505,999 shares of the company’s stock worth $4,088,000 after acquiring an additional 108,077 shares during the period. Institutional investors own 82.46% of the company’s stock.

About Global Business Travel Group

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.