Global Business Travel Group (NYSE:GBTG) Reaches New 12-Month High – Here’s What Happened

Shares of Global Business Travel Group, Inc. (NYSE:GBTG) hit a new 52-week high on Tuesday . The stock traded as high as $7.79 and last traded at $7.79, with a volume of 231999 shares trading hands. The stock had previously closed at $7.60.

Analysts Set New Price Targets

Several equities research analysts have commented on GBTG shares. Evercore ISI boosted 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 report on Wednesday, August 7th. Citigroup boosted their target price on shares of Global Business Travel Group from $9.00 to $9.50 and gave the stock a “buy” rating in a report on Friday, October 4th.

Global Business Travel Group Stock Up 2.4 %

The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of -19.49 and a beta of 0.64. The business has a 50-day moving average price of $7.22 and a 200-day moving average price of $6.60.

Global Business Travel Group (NYSE:GBTG) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.11. The company had revenue of $625.00 million during the quarter, compared to analyst estimates of $643.97 million. Global Business Travel Group had a negative net margin of 1.66% and a negative return on equity of 1.26%. As a group, equities analysts anticipate that Global Business Travel Group, Inc. will post -0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Global Business Travel Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC acquired a new stake in shares of Global Business Travel Group in the first quarter worth $3,383,000. Rhumbline Advisers boosted its position in 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. Bank of New York Mellon Corp grew its stake in 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 valued at $6,652,000 after acquiring an additional 925,018 shares in the last quarter. Renaissance Technologies LLC grew its stake in Global Business Travel Group by 431.2% during the 2nd quarter. Renaissance Technologies LLC now owns 105,700 shares of the company’s stock valued at $698,000 after acquiring an additional 85,800 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Global Business Travel Group in the second quarter worth approximately $489,000. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

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.