Global Business Travel Group (NYSE:GBTG) Sets New 52-Week High – What’s Next?

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Evercore ISI boosted their price objective on Global Business Travel Group from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. UBS Group initiated coverage on shares of Global Business Travel Group in a report on Friday. They issued a “buy” rating and a $11.00 price target on the stock. Finally, Citigroup lifted their price objective on shares of Global Business Travel Group from $9.00 to $9.50 and gave the company a “buy” rating in a report on Friday, October 4th.

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 firm has a fifty day simple moving average of $7.91 and a 200 day simple moving average of $7.05.

Global Business Travel Group (NYSE:GBTG) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $611.89 million. During the same quarter in the previous year, the firm earned ($0.02) earnings per share. On average, equities research analysts forecast that Global Business Travel Group, Inc. will post -0.17 EPS for the current fiscal year.

Global Business Travel Group announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, November 5th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 8.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Global Business Travel Group

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