SG Americas Securities LLC Trims Stock Position in Global Business Travel Group, Inc. $GBTG

SG Americas Securities LLC trimmed its position in Global Business Travel Group, Inc. (NYSE:GBTG) by 76.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 50,305 shares of the company’s stock after selling 167,583 shares during the period. SG Americas Securities LLC’s holdings in Global Business Travel Group were worth $281,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in shares of Global Business Travel Group during the 3rd quarter worth approximately $26,000. Northwestern Mutual Wealth Management Co. acquired a new position in Global Business Travel Group in the fourth quarter valued at approximately $32,000. Advisory Services Network LLC purchased a new position in Global Business Travel Group in the third quarter worth approximately $61,000. Russell Investments Group Ltd. grew its position in Global Business Travel Group by 1,238.9% in the third quarter. Russell Investments Group Ltd. now owns 9,024 shares of the company’s stock worth $73,000 after acquiring an additional 8,350 shares during the period. Finally, CIBC Bancorp USA Inc. acquired a new stake in Global Business Travel Group during the third quarter worth $81,000. Hedge funds and other institutional investors own 82.46% of the company’s stock.

Global Business Travel Group Stock Up 0.2%

Shares of NYSE GBTG opened at $9.40 on Friday. The firm has a market cap of $4.90 billion, a price-to-earnings ratio of 55.32 and a beta of 0.93. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.90. Global Business Travel Group, Inc. has a 52-week low of $4.95 and a 52-week high of $9.54. The business’s 50 day moving average is $9.32 and its two-hundred day moving average is $7.33.

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

Insider Activity

In other news, CEO Paul G. Abbott sold 574,317 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $9.35, for a total value of $5,369,863.95. Following the completion of the transaction, the chief executive officer owned 2,582,911 shares of the company’s stock, valued at approximately $24,150,217.85. This trade represents a 18.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Eric J. Bock sold 125,030 shares of Global Business Travel Group stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $9.36, for a total transaction of $1,170,280.80. Following the completion of the transaction, the insider owned 871,342 shares of the company’s stock, valued at $8,155,761.12. This trade represents a 12.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,572,683 shares of company stock worth $14,704,271 in the last quarter. Insiders own 5.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on GBTG. Bank of America began coverage on Global Business Travel Group in a research report on Tuesday, April 7th. They issued a “neutral” rating and a $6.50 target price on the stock. Weiss Ratings upgraded Global Business Travel Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Evercore downgraded Global Business Travel Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Lake Street Capital set a $9.50 price objective on shares of Global Business Travel Group in a report on Monday, May 4th. Finally, Wall Street Zen lowered shares of Global Business Travel Group from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $8.90.

Global Business Travel Group Company Profile

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.