Global Blue Group (NYSE:GB) Shares Up 3.5% – Here’s Why

Global Blue Group Holding AG (NYSE:GB)’s share price was up 3.5% during trading on Monday . The stock traded as high as $6.43 and last traded at $6.43. Approximately 3,297 shares traded hands during trading, a decline of 91% from the average daily volume of 36,110 shares. The stock had previously closed at $6.21.

Analysts Set New Price Targets

Separately, Oppenheimer assumed coverage on Global Blue Group in a research report on Thursday, October 24th. They issued an “outperform” rating and a $6.00 target price for the company.

Global Blue Group Trading Up 3.1 %

The stock’s fifty day moving average price is $5.75 and its two-hundred day moving average price is $5.30. The company has a market capitalization of $1.33 billion, a PE ratio of 31.67 and a beta of 0.44. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 5.30.

Institutional Investors Weigh In On Global Blue Group

A number of large investors have recently made changes to their positions in GB. Allspring Global Investments Holdings LLC lifted its stake in Global Blue Group by 1,640.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 5,061,307 shares of the company’s stock worth $24,395,000 after acquiring an additional 4,770,550 shares during the period. Scalar Gauge Management LLC increased its position in shares of Global Blue Group by 21.0% during the third quarter. Scalar Gauge Management LLC now owns 288,983 shares of the company’s stock valued at $1,581,000 after buying an additional 50,100 shares during the period. Sei Investments Co. raised its stake in Global Blue Group by 8.6% in the second quarter. Sei Investments Co. now owns 109,435 shares of the company’s stock worth $527,000 after buying an additional 8,646 shares in the last quarter. Atom Investors LP lifted its holdings in Global Blue Group by 20.2% in the third quarter. Atom Investors LP now owns 75,001 shares of the company’s stock worth $410,000 after buying an additional 12,625 shares during the period. Finally, Independent Advisor Alliance bought a new stake in Global Blue Group during the 3rd quarter valued at approximately $229,000. 89.66% of the stock is currently owned by institutional investors.

About Global Blue Group

Global Blue Group Holding AG, together with its subsidiaries, provides technology-enabled transaction processing services for merchants, banks, acquirers, governments, and travelers in Europe, the Asia Pacific, and internationally. The company operates in three segments: Tax Free Shopping Technology Solutions (TFSS), Added-Value Payment Solutions (AVPS), and Retail Tech Solutions (RTS).