Paul Abbott Sells 574,317 Shares of Global Business Travel Group (NYSE:GBTG) Stock

Global Business Travel Group, Inc. (NYSE:GBTG) CEO Paul Abbott sold 574,317 shares of Global Business Travel Group stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $9.35, for a total transaction of $5,369,863.95. Following the completion of the transaction, the chief executive officer owned 2,582,911 shares in the company, valued at approximately $24,150,217.85. This represents a 18.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Global Business Travel Group Trading Down 0.1%

Shares of Global Business Travel Group stock opened at $9.36 on Wednesday. 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 quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.90. The company’s 50-day simple moving average is $8.03 and its 200-day simple moving average is $7.13. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of 55.03 and a beta of 0.93.

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

Institutional Trading of Global Business Travel Group

Institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC lifted its stake in shares of Global Business Travel Group by 169.9% during the first quarter. AQR Capital Management LLC now owns 64,060 shares of the company’s stock valued at $465,000 after buying an additional 40,328 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Global Business Travel Group by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,576 shares of the company’s stock valued at $541,000 after buying an additional 3,238 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Global Business Travel Group by 66.6% during the first quarter. Goldman Sachs Group Inc. now owns 736,472 shares of the company’s stock valued at $5,347,000 after buying an additional 294,527 shares during the period. Creative Planning acquired a new position in Global Business Travel Group during the second quarter worth approximately $67,000. Finally, Legal & General Group Plc increased its position in Global Business Travel Group by 4.0% during the second quarter. Legal & General Group Plc now owns 112,365 shares of the company’s stock worth $708,000 after purchasing an additional 4,308 shares during the last quarter. Hedge funds and other institutional investors own 82.46% of the company’s stock.

Analyst Ratings Changes

GBTG has been the topic of a number of recent analyst reports. BTIG Research lowered shares of Global Business Travel Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 4th. Evercore lowered shares of Global Business Travel Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Bank of America assumed coverage on shares of Global Business Travel Group in a research report on Tuesday, April 7th. They set a “neutral” rating and a $6.50 target price 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 on the stock in a research report on Thursday, March 12th. Finally, Lake Street Capital set a $9.50 target price on shares of Global Business Travel Group in a research report on Monday, May 4th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $8.90.

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.