Global Business Travel Group (NYSE:GBTG) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Global Business Travel Group (NYSE:GBTG) issued its quarterly earnings data on Tuesday. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03), Zacks reports. Global Business Travel Group had a return on equity of 2.51% and a net margin of 2.93%.The business’s quarterly revenue was up 37.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 earnings per share.

Global Business Travel Group Price Performance

Shares of NYSE GBTG traded up $0.01 during mid-day trading on Tuesday, reaching $9.44. The company had a trading volume of 453,396 shares, compared to its average volume of 2,647,951. The company has a 50-day moving average price of $9.39 and a two-hundred day moving average price of $7.50. Global Business Travel Group has a 1-year low of $4.95 and a 1-year high of $9.54. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.90. The stock has a market cap of $4.92 billion, a PE ratio of 55.50 and a beta of 0.93.

Insider Activity

In related news, Director James Peter Bush sold 17,500 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $9.36, for a total transaction of $163,800.00. Following the transaction, the director directly owned 120,526 shares of the company’s stock, valued at approximately $1,128,123.36. The trade was a 12.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Paul G. Abbott sold 574,317 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $9.35, for a total value of $5,369,863.95. Following the sale, the chief executive officer owned 2,582,911 shares of the company’s stock, valued at $24,150,217.85. The trade was a 18.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,572,683 shares of company stock valued at $14,704,271 in the last ninety days. Corporate insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Landscape Capital Management L.L.C. grew its stake in Global Business Travel Group by 17.1% in the 4th quarter. Landscape Capital Management L.L.C. now owns 14,567 shares of the company’s stock valued at $111,000 after buying an additional 2,125 shares during the last quarter. California State Teachers Retirement System lifted its position in Global Business Travel Group by 2.5% during the 4th quarter. California State Teachers Retirement System now owns 88,896 shares of the company’s stock worth $680,000 after acquiring an additional 2,143 shares during the last quarter. State of Wyoming lifted its position in Global Business Travel Group by 6.5% during the 2nd quarter. State of Wyoming now owns 40,964 shares of the company’s stock worth $258,000 after acquiring an additional 2,504 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Global Business Travel Group by 28.2% during the fourth quarter. Russell Investments Group Ltd. now owns 11,573 shares of the company’s stock valued at $89,000 after acquiring an additional 2,549 shares during the period. Finally, Xponance LLC grew its position in shares of Global Business Travel Group by 29.2% in the fourth quarter. Xponance LLC now owns 13,416 shares of the company’s stock valued at $103,000 after purchasing an additional 3,032 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 subject of several recent analyst reports. Wall Street Zen cut Global Business Travel Group from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Bank of America assumed coverage on shares of Global Business Travel Group in a research note on Tuesday, April 7th. They set a “neutral” rating and a $6.50 price objective on the stock. Lake Street Capital set a $9.50 target price on shares of Global Business Travel Group in a research report on Monday, May 4th. BTIG Research cut shares of Global Business Travel Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 4th. Finally, Weiss Ratings raised shares of Global Business Travel Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.