Global Business Travel Group (NYSE:GBTG) Reaches New 52-Week High – Here’s Why

Global Business Travel Group, Inc. (NYSE:GBTG)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $7.79 and last traded at $7.79, with a volume of 231999 shares changing hands. The stock had previously closed at $7.60.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GBTG. Evercore ISI boosted their price objective on Global Business Travel Group from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Citigroup boosted their price target on shares of Global Business Travel Group from $9.00 to $9.50 and gave the company a “buy” rating in a research note on Friday, October 4th.

Global Business Travel Group Price Performance

The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.65 and a current ratio of 1.65. The business has a 50 day simple moving average of $7.28 and a 200-day simple moving average of $6.63. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of -20.15 and a beta of 0.64.

Global Business Travel Group (NYSE:GBTG) last announced its earnings results on Tuesday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.11. The company had revenue of $625.00 million for the quarter, compared to analysts’ expectations of $643.97 million. Global Business Travel Group had a negative return on equity of 1.26% and a negative net margin of 1.66%. Equities research analysts expect that Global Business Travel Group, Inc. will post -0.08 earnings per share for the current year.

Institutional Investors Weigh In On Global Business Travel Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in shares of Global Business Travel Group by 1,116.6% in the second quarter. Bank of New York Mellon Corp now owns 1,007,861 shares of the company’s stock valued at $6,652,000 after acquiring an additional 925,018 shares in the last quarter. Tidal Investments LLC purchased a new position in Global Business Travel Group in the first quarter worth $3,383,000. Rhumbline Advisers grew its stake in Global Business Travel Group by 419.3% in the 2nd quarter. Rhumbline Advisers now owns 143,883 shares of the company’s stock valued at $950,000 after purchasing an additional 116,175 shares during the period. Ionic Capital Management LLC increased its position in shares of Global Business Travel Group by 480.1% during the 1st quarter. Ionic Capital Management LLC now owns 131,245 shares of the company’s stock valued at $789,000 after purchasing an additional 108,619 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Global Business Travel Group by 595.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 114,695 shares of the company’s stock worth $757,000 after purchasing an additional 98,213 shares during the period. Hedge funds and other institutional investors own 82.46% of the company’s stock.

Global Business Travel Group Company Profile

Global Business Travel Group, Inc provides business-to-business (B2B) travel platform in the United States and internationally. The company's platform offers a suite of technology-enabled solutions to business travelers and clients; travel content suppliers, such as airlines, hotels, ground transportation, and aggregators; and third-party travel agencies.