Global Business Travel Group (NYSE:GBTG) Sets New 52-Week High – Still a Buy?

Shares of Global Business Travel Group, Inc. (NYSE:GBTG) hit a new 52-week high on Tuesday . The company traded as high as $9.56 and last traded at $9.4850, with a volume of 36909 shares changing hands. The stock had previously closed at $9.48.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Global Business Travel Group in a report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $8.90.

Global Business Travel Group Stock Performance

The company has a fifty day moving average price of $9.44 and a two-hundred day moving average price of $8.08. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.20 and a quick ratio of 1.20. The company has a market capitalization of $4.95 billion, a P/E ratio of 55.79 and a beta of 0.93.

Global Business Travel Group (NYSE:GBTG) last posted its earnings results on Tuesday, August 4th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.03). Global Business Travel Group had a return on equity of 2.47% and a net margin of 2.77%.The business had revenue of $870.00 million for the quarter, compared to analyst estimates of $810.60 million. The firm’s quarterly revenue was up 37.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.03 earnings per share.

Insider Buying and Selling

In related news, insider Eric Bock sold 90,886 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $9.35, for a total transaction of $849,784.10. Following the completion of the transaction, the insider directly owned 773,956 shares of the company’s stock, valued at $7,236,488.60. This trade represents a 10.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Andrew George Crawley sold 350,000 shares of Global Business Travel Group stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $9.43, for a total value of $3,300,500.00. Following the transaction, the president directly owned 1,031,838 shares in the company, valued at $9,730,232.34. The trade was a 25.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 868,328 shares of company stock valued at $8,183,306 in the last three months. Insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Attestor Capital Ltd acquired a new stake in Global Business Travel Group in the fourth quarter worth $67,917,000. Lazard Asset Management LLC raised its holdings in shares of Global Business Travel Group by 439.0% during the first quarter. Lazard Asset Management LLC now owns 545,145 shares of the company’s stock valued at $3,042,000 after purchasing an additional 444,003 shares during the period. Quantinno Capital Management LP boosted its position in shares of Global Business Travel Group by 720.9% during the 1st quarter. Quantinno Capital Management LP now owns 208,118 shares of the company’s stock worth $1,161,000 after purchasing an additional 182,765 shares in the last quarter. Monarch Alternative Capital LP boosted its position in shares of Global Business Travel Group by 9.3% during the 1st quarter. Monarch Alternative Capital LP now owns 7,800,000 shares of the company’s stock worth $43,524,000 after purchasing an additional 661,418 shares in the last quarter. Finally, Sei Investments Co. grew its stake in shares of Global Business Travel Group by 90.3% in the 1st quarter. Sei Investments Co. now owns 343,833 shares of the company’s stock valued at $1,919,000 after buying an additional 163,173 shares during the period. Institutional investors own 82.46% of the company’s stock.

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.