Global Business Travel Group, Inc. (NYSE:GBTG) Short Interest Update

Global Business Travel Group, Inc. (NYSE:GBTG) was the recipient of a significant drop in short interest during the month of March. As of March 13th, there was short interest totaling 10,428,950 shares, a drop of 21.1% from the February 26th total of 13,224,628 shares. Based on an average daily volume of 2,018,353 shares, the short-interest ratio is presently 5.2 days. Currently, 2.0% of the shares of the company are sold short.

Global Business Travel Group Trading Down 3.3%

GBTG stock opened at $5.35 on Friday. Global Business Travel Group has a 52-week low of $4.95 and a 52-week high of $8.64. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.84. The firm has a market cap of $2.80 billion, a P/E ratio of 23.24 and a beta of 0.77. The company’s 50-day simple moving average is $5.87 and its 200-day simple moving average is $7.15.

Global Business Travel Group (NYSE:GBTG) last announced its quarterly earnings results on Monday, March 9th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.04. The firm had revenue of $792.00 million during the quarter, compared to analyst estimates of $789.48 million. Global Business Travel Group had a return on equity of 6.20% and a net margin of 4.01%. As a group, equities analysts forecast that Global Business Travel Group will post -0.17 EPS for the current fiscal year.

Institutional Trading of Global Business Travel Group

A number of institutional investors and hedge funds have recently made changes to their positions in GBTG. Redwood Capital Management LLC acquired a new position in shares of Global Business Travel Group during the 3rd quarter worth approximately $173,347,000. Ares Management LLC grew its stake in Global Business Travel Group by 21.8% in the 2nd quarter. Ares Management LLC now owns 13,886,023 shares of the company’s stock valued at $87,482,000 after acquiring an additional 2,489,506 shares during the period. Vanguard Group Inc. increased its holdings in Global Business Travel Group by 24.7% in the 4th quarter. Vanguard Group Inc. now owns 13,857,451 shares of the company’s stock worth $106,010,000 after acquiring an additional 2,744,068 shares in the last quarter. Attestor Capital Ltd purchased a new stake in Global Business Travel Group in the 4th quarter worth $67,917,000. Finally, Anchorage Capital Advisors L.P. acquired a new position in Global Business Travel Group during the third quarter worth $58,073,000. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on GBTG shares. Citigroup lowered their price target on shares of Global Business Travel Group from $11.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, March 12th. UBS Group lowered their target price on Global Business Travel Group from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, March 10th. BTIG Research dropped their target price on Global Business Travel Group from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Monday, March 9th. Zacks Research upgraded Global Business Travel Group from a “strong sell” rating to a “hold” rating in a research report on Friday, January 9th. Finally, Wall Street Zen downgraded Global Business Travel Group from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.40.

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.