Global Business Travel Group, Inc. (NYSE:GBTG) Short Interest Down 12.0% in November

Global Business Travel Group, Inc. (NYSE:GBTG) saw a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 6,330,000 shares, a decrease of 12.0% from the October 31st total of 7,190,000 shares. Currently, 3.6% of the shares of the company are short sold. Based on an average daily trading volume, of 1,070,000 shares, the days-to-cover ratio is currently 5.9 days.

Institutional Investors Weigh In On Global Business Travel Group

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Global Business Travel Group by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 971,900 shares of the company’s stock worth $5,841,000 after purchasing an additional 10,446 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Global Business Travel Group by 1,116.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,007,861 shares of the company’s stock worth $6,652,000 after acquiring an additional 925,018 shares during the period. Principal Financial Group Inc. purchased a new position in shares of Global Business Travel Group during the 2nd quarter worth about $108,000. Rhumbline Advisers lifted its holdings in shares of Global Business Travel Group by 419.3% during the 2nd quarter. Rhumbline Advisers now owns 143,883 shares of the company’s stock worth $950,000 after acquiring an additional 116,175 shares during the period. Finally, Victory Capital Management Inc. purchased a new position in shares of Global Business Travel Group during the 2nd quarter worth about $147,000. 82.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on GBTG shares. Evercore ISI upped their price target on shares of Global Business Travel Group from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. UBS Group started coverage on shares of Global Business Travel Group in a research note on Friday, November 22nd. They set a “buy” rating and a $11.00 price target on the stock. Finally, Citigroup upped their price target on shares of Global Business Travel Group from $9.00 to $9.50 and gave the stock a “buy” rating in a research note on Friday, October 4th.

Global Business Travel Group Price Performance

NYSE GBTG traded up $0.10 during trading hours on Friday, reaching $9.39. The company’s stock had a trading volume of 417,742 shares, compared to its average volume of 902,490. The stock has a market cap of $4.42 billion, a PE ratio of -26.08 and a beta of 0.63. Global Business Travel Group has a fifty-two week low of $4.49 and a fifty-two week high of $9.60. The company’s 50-day moving average is $8.11 and its two-hundred day moving average is $7.16. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.56 and a current ratio of 1.56.

Global Business Travel Group (NYSE:GBTG) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates 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 posted ($0.02) earnings per share. Analysts forecast that Global Business Travel Group will post -0.17 EPS for the current year.

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

Global Business Travel Group Company Profile

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.