Global Business Travel Group (NYSE:GBTG) CEO Paul Abbott Sells 574,317 Shares of 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 value of $5,369,863.95. Following the transaction, the chief executive officer owned 2,582,911 shares in the company, valued at $24,150,217.85. This trade represents a 18.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Global Business Travel Group Price Performance

NYSE GBTG opened at $9.36 on Tuesday. The company has a market capitalization of $4.88 billion, a PE ratio of 55.03 and a beta of 0.93. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.18 and a current ratio of 1.18. The business’s fifty day moving average is $7.95 and its 200 day moving average is $7.12. Global Business Travel Group, Inc. has a fifty-two week low of $4.95 and a fifty-two week high of $9.54.

Global Business Travel Group (NYSE:GBTG) last released its earnings results on Monday, May 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.05. The company had revenue of $840.00 million for the quarter, compared to the consensus estimate of $814.55 million. Global Business Travel Group had a return on equity of 2.51% and a net margin of 2.93%.Global Business Travel Group’s revenue for the quarter was up 35.3% compared to the same quarter last year. Sell-side analysts predict that Global Business Travel Group, Inc. will post 0.18 earnings per share for the current year.

Institutional Investors Weigh In On Global Business Travel Group

Large investors have recently made changes to their positions in the company. Quantbot Technologies LP bought a new stake in shares of Global Business Travel Group in the third quarter worth about $26,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Global Business Travel Group in the fourth quarter worth about $32,000. Advisory Services Network LLC bought a new stake in shares of Global Business Travel Group in the third quarter worth about $61,000. Russell Investments Group Ltd. increased its stake in Global Business Travel Group by 1,238.9% during the third quarter. Russell Investments Group Ltd. now owns 9,024 shares of the company’s stock worth $73,000 after acquiring an additional 8,350 shares during the last quarter. Finally, CIBC Bancorp USA Inc. bought a new stake in Global Business Travel Group during the third quarter worth approximately $81,000. 82.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GBTG. Evercore downgraded Global Business Travel Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft set a $8.20 price objective on Global Business Travel Group in a research report on Wednesday, March 11th. Citigroup lowered their price objective on 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. Lake Street Capital set a $9.50 price objective on Global Business Travel Group in a research report on Monday, May 4th. Finally, Weiss Ratings upgraded Global Business Travel Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently 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.