Global Business Travel Group (NYSE:GBTG) CEO Paul Abbott Sells 8,745 Shares of Stock

Global Business Travel Group, Inc. (NYSE:GBTG) CEO Paul Abbott sold 8,745 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $9.36, for a total transaction of $81,853.20. Following the transaction, the chief executive officer directly owned 3,547,211 shares of the company’s stock, valued at $33,201,894.96. The trade was a 0.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Global Business Travel Group Price Performance

GBTG stock opened at $9.35 on Friday. The company has a fifty day moving average price of $7.49 and a 200-day moving average price of $7.03. The company has a market capitalization of $4.87 billion, a P/E ratio of 54.97 and a beta of 0.93. Global Business Travel Group, Inc. has a 52-week low of $4.95 and a 52-week high of $9.54. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.18 and a current ratio of 1.18.

Global Business Travel Group (NYSE:GBTG) last released its quarterly earnings results on Monday, May 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.05. The firm had revenue of $840.00 million during the quarter, compared to the consensus estimate of $814.55 million. Global Business Travel Group had a net margin of 2.93% and a return on equity of 2.51%. The business’s revenue was up 35.3% compared to the same quarter last year. As a group, equities analysts expect that Global Business Travel Group, Inc. will post 0.18 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Citigroup lowered their target price on shares of Global Business Travel Group from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, March 12th. Deutsche Bank Aktiengesellschaft set a $8.20 target price on shares of Global Business Travel Group in a research note on Wednesday, March 11th. Lake Street Capital set a $9.50 target price on shares of Global Business Travel Group in a research note on Monday, May 4th. Morgan Stanley lowered their target price on shares of Global Business Travel Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Monday, March 9th. Finally, Evercore downgraded shares of Global Business Travel Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.90.

Institutional Investors Weigh In On Global Business Travel Group

Several hedge funds and other institutional investors have recently bought and sold shares of GBTG. Redwood Capital Management LLC bought a new stake in Global Business Travel Group in the third quarter valued at $173,347,000. Attestor Capital Ltd bought a new stake in shares of Global Business Travel Group during the fourth quarter valued at approximately $67,917,000. Anchorage Capital Advisors L.P. bought a new stake in shares of Global Business Travel Group during the third quarter valued at approximately $58,073,000. Monarch Alternative Capital LP bought a new stake in shares of Global Business Travel Group during the third quarter valued at approximately $57,680,000. Finally, Vanguard Group Inc. increased its holdings in shares of Global Business Travel Group by 24.7% during the fourth quarter. Vanguard Group Inc. now owns 13,857,451 shares of the company’s stock valued at $106,010,000 after acquiring an additional 2,744,068 shares in the last quarter. 82.46% of the stock is owned by institutional investors.

About Global Business Travel Group

Global Business Travel Group (NYSE: GBTG), formerly known as American Express Global Business Travel, is a provider of end-to-end corporate travel management solutions. The company helps organizations plan, book and manage business travel, meetings and events through an integrated suite of services. Its offerings include traveller support, expense management, virtual and in-person meeting services, data analytics and duty-of-care solutions tailored to enterprise customers.

Operating under a global network of offices and digital platforms, Global Business Travel Group serves clients across the Americas, EMEA and Asia Pacific.