Paul Abbott Sells 173,460 Shares of Global Business Travel Group (NYSE:GBTG) Stock

Global Business Travel Group, Inc. (NYSE:GBTG) CEO Paul Abbott sold 173,460 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $9.36, for a total value of $1,623,585.60. Following the transaction, the chief executive officer owned 3,373,751 shares in the company, valued at $31,578,309.36. This trade represents a 4.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Global Business Travel Group Stock Up 0.2%

GBTG stock opened at $9.36 on Friday. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of 55.03 and a beta of 0.93. Global Business Travel Group, Inc. has a 1-year low of $4.95 and a 1-year high of $9.54. The firm has a fifty day moving average price of $7.80 and a two-hundred day moving average price of $7.09. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.18 and a quick ratio of 1.18.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP bought a new position in Global Business Travel Group in the 3rd quarter worth about $26,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Global Business Travel Group in the fourth quarter valued at approximately $32,000. Advisory Services Network LLC bought a new stake in shares of Global Business Travel Group during the third quarter valued at approximately $61,000. Creative Planning acquired a new position in shares of Global Business Travel Group during the second quarter worth approximately $67,000. Finally, Russell Investments Group Ltd. boosted its position in shares of 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 buying an additional 8,350 shares during the period. 82.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Evercore downgraded Global Business Travel Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Lake Street Capital set a $9.50 price target on Global Business Travel Group in a research report on Monday, May 4th. Bank of America initiated coverage on Global Business Travel Group in a report on Tuesday, April 7th. They issued a “neutral” rating and a $6.50 price target on the stock. Weiss Ratings upgraded Global Business Travel Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Finally, Citigroup dropped their target price 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. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.