Global Business Travel Group (NYSE:GBTG) Insider Sells $1,170,280.80 in Stock

Global Business Travel Group, Inc. (NYSE:GBTG) insider Eric Bock sold 125,030 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $9.36, for a total transaction of $1,170,280.80. Following the completion of the transaction, the insider owned 871,342 shares in the company, valued at approximately $8,155,761.12. The trade was a 12.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Global Business Travel Group Trading Up 0.2%

NYSE GBTG opened at $9.38 on Thursday. The company’s 50-day moving average price is $8.10 and its 200-day moving average price is $7.14. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.90. The stock has a market cap of $4.89 billion, a PE ratio of 55.15 and a beta of 0.93. Global Business Travel Group, Inc. has a 12 month low of $4.95 and a 12 month high of $9.54.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GBTG. UBS Group dropped their target price on shares of Global Business Travel Group from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Evercore cut shares of Global Business Travel Group from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Citigroup dropped their target price on shares of Global Business Travel Group from $11.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, March 12th. Morgan Stanley dropped their target price on shares of Global Business Travel Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Monday, March 9th. Finally, Deutsche Bank Aktiengesellschaft set a $8.20 target price on shares of Global Business Travel Group in a report on Wednesday, March 11th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Global Business Travel Group has a consensus rating of “Hold” and an average target price of $8.90.

Institutional Trading of Global Business Travel Group

Several hedge funds have recently modified their holdings of the company. Amundi lifted its position in shares of Global Business Travel Group by 145.3% during the first quarter. Amundi now owns 30,218 shares of the company’s stock valued at $169,000 after buying an additional 17,899 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of Global Business Travel Group by 43.0% during the first quarter. California State Teachers Retirement System now owns 127,138 shares of the company’s stock valued at $709,000 after buying an additional 38,242 shares during the last quarter. Quantinno Capital Management LP lifted its position in shares of Global Business Travel Group by 720.9% during the first quarter. Quantinno Capital Management LP now owns 208,118 shares of the company’s stock valued at $1,161,000 after buying an additional 182,765 shares during the last quarter. Monarch Alternative Capital LP lifted its position in shares of Global Business Travel Group by 9.3% during the first quarter. Monarch Alternative Capital LP now owns 7,800,000 shares of the company’s stock valued at $43,524,000 after buying an additional 661,418 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of Global Business Travel Group by 439.0% during the first quarter. Lazard Asset Management LLC now owns 545,145 shares of the company’s stock valued at $3,042,000 after buying an additional 444,003 shares during the last quarter. 82.46% of the stock is owned by hedge funds and other institutional investors.

Global Business Travel Group Company Profile

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.