Global Business Travel Group (NYSE:GBTG) Insider Sells $3,327,113.48 in Stock

Global Business Travel Group, Inc. (NYSE:GBTG) insider Evan Konwiser sold 356,222 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $9.34, for a total value of $3,327,113.48. Following the transaction, the insider owned 502,641 shares in the company, valued at approximately $4,694,666.94. This represents a 41.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Global Business Travel Group Stock Performance

Shares of Global Business Travel Group stock opened at $9.36 on Friday. The firm has a market cap of $4.88 billion, a P/E ratio of 55.03 and a beta of 0.93. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.90. Global Business Travel Group, Inc. has a 12 month low of $4.95 and a 12 month high of $9.54. The stock’s fifty day moving average price is $7.87 and its 200-day moving average price is $7.11.

Global Business Travel Group (NYSE:GBTG) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.05 by $0.05. The firm had revenue of $840.00 million for the quarter, compared to analyst estimates of $814.55 million. 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 35.3% on a year-over-year basis. On average, equities research analysts expect that Global Business Travel Group, Inc. will post 0.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Amundi increased its holdings in shares of Global Business Travel Group by 145.3% in the 1st quarter. Amundi now owns 30,218 shares of the company’s stock valued at $169,000 after acquiring an additional 17,899 shares during the period. California State Teachers Retirement System grew its stake in Global Business Travel Group by 43.0% during the 1st quarter. California State Teachers Retirement System now owns 127,138 shares of the company’s stock worth $709,000 after buying an additional 38,242 shares during the last quarter. Quantinno Capital Management LP grew its stake in 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 buying an additional 182,765 shares during the last quarter. Monarch Alternative Capital LP grew its stake in 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 buying an additional 661,418 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in Global Business Travel Group by 439.0% during the 1st quarter. Lazard Asset Management LLC now owns 545,145 shares of the company’s stock worth $3,042,000 after buying an additional 444,003 shares during the last quarter. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Morgan Stanley cut their price target on Global Business Travel Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Monday, March 9th. Evercore downgraded Global Business Travel Group from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. UBS Group cut their price target on Global Business Travel Group from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Deutsche Bank Aktiengesellschaft set a $8.20 price target on Global Business Travel Group in a report on Wednesday, March 11th. Finally, Lake Street Capital set a $9.50 price target on Global Business Travel Group in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Global Business Travel Group presently has an average rating of “Hold” and an average price target of $8.90.

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.