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

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

Wall Street Analysts Forecast Growth

GBTG has been the subject of several research reports. Evercore ISI upped their target price on shares of Global Business Travel Group from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Citigroup boosted their target price on 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.

Global Business Travel Group Price Performance

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

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

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank boosted its stake in Global Business Travel Group by 299.1% in the 2nd quarter. Amalgamated Bank now owns 4,342 shares of the company’s stock worth $29,000 after purchasing an additional 3,254 shares in the last quarter. Verition Fund Management LLC bought a new position in Global Business Travel Group during the 3rd quarter valued at about $98,000. Principal Financial Group Inc. purchased a new stake in shares of Global Business Travel Group during the 2nd quarter valued at about $108,000. Quadrature Capital Ltd purchased a new position in shares of Global Business Travel Group during the third quarter valued at approximately $137,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Global Business Travel Group during the second quarter valued at approximately $143,000. 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.