Insider Selling: Global Business Travel Group (NYSE:GBTG) CEO Sells $2,024,490.05 in Stock

Global Business Travel Group, Inc. (NYSE:GBTG) CEO Paul Abbott sold 216,523 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $9.35, for a total transaction of $2,024,490.05. Following the transaction, the chief executive officer owned 3,157,228 shares of the company’s stock, valued at approximately $29,520,081.80. This trade represents a 6.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Global Business Travel Group Stock Down 0.1%

GBTG opened at $9.36 on Friday. 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 quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.90. The company has a 50-day moving average price of $7.87 and a 200 day moving average price of $7.11. The company has a market cap of $4.88 billion, a PE ratio of 55.03 and a beta of 0.93.

Global Business Travel Group (NYSE:GBTG) last released its quarterly earnings results on Monday, May 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.05. Global Business Travel Group had a net margin of 2.93% and a return on equity of 2.51%. The firm had revenue of $840.00 million during the quarter, compared to the consensus estimate of $814.55 million. The business’s revenue for the quarter was up 35.3% on a year-over-year basis. Sell-side analysts expect that Global Business Travel Group, Inc. will post 0.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of 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. Weiss Ratings raised shares of Global Business Travel Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Citigroup dropped their price objective on shares of 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. Bank of America assumed coverage on shares of Global Business Travel Group in a research note on Tuesday, April 7th. They set a “neutral” rating and a $6.50 price objective for the company. Finally, Wall Street Zen cut shares of Global Business Travel Group from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Global Business Travel Group has an average rating of “Hold” and an average price target of $8.90.

Institutional Trading of Global Business Travel Group

Several hedge funds have recently made changes to their positions in the company. Landscape Capital Management L.L.C. grew its stake in shares of Global Business Travel Group by 17.1% in the 4th quarter. Landscape Capital Management L.L.C. now owns 14,567 shares of the company’s stock valued at $111,000 after buying an additional 2,125 shares during the period. California State Teachers Retirement System grew its stake in shares of Global Business Travel Group by 2.5% in the 4th quarter. California State Teachers Retirement System now owns 88,896 shares of the company’s stock valued at $680,000 after buying an additional 2,143 shares during the period. State of Wyoming grew its stake in shares of Global Business Travel Group by 6.5% in the 2nd quarter. State of Wyoming now owns 40,964 shares of the company’s stock valued at $258,000 after buying an additional 2,504 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Global Business Travel Group by 28.2% in the 4th quarter. Russell Investments Group Ltd. now owns 11,573 shares of the company’s stock valued at $89,000 after buying an additional 2,549 shares during the period. Finally, Xponance LLC grew its stake in shares of Global Business Travel Group by 29.2% in the 4th quarter. Xponance LLC now owns 13,416 shares of the company’s stock valued at $103,000 after buying an additional 3,032 shares during the period. Hedge funds and other 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.