Paul Abbott Sells 216,523 Shares of Global Business Travel Group (NYSE:GBTG) Stock

Global Business Travel Group, Inc. (NYSE:GBTG) CEO Paul Abbott sold 216,523 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $9.35, for a total transaction of $2,024,490.05. Following the transaction, the chief executive officer directly owned 3,157,228 shares of the company’s stock, valued at approximately $29,520,081.80. This represents a 6.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Global Business Travel Group Trading Up 0.2%

Global Business Travel Group stock opened at $9.36 on Friday. The firm has a market capitalization of $4.88 billion, a PE ratio of 55.03 and a beta of 0.93. The business’s 50-day simple moving average is $7.80 and its 200-day simple moving average is $7.09. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.18 and a current ratio of 1.18. Global Business Travel Group, Inc. has a 52 week low of $4.95 and a 52 week high of $9.54.

Global Business Travel Group (NYSE:GBTG) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.05 by $0.05. Global Business Travel Group had a return on equity of 2.51% and a net margin of 2.93%.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 quarterly revenue was up 35.3% on a year-over-year basis. Equities research analysts forecast 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

Institutional investors and hedge funds have recently bought and sold shares of the business. Amundi raised its stake 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 buying an additional 17,899 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of 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 valued at $709,000 after acquiring an additional 38,242 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of 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 valued at $1,161,000 after acquiring an additional 182,765 shares in the last quarter. Monarch Alternative Capital LP increased its stake in Global Business Travel Group by 9.3% in the first quarter. Monarch Alternative Capital LP now owns 7,800,000 shares of the company’s stock valued at $43,524,000 after acquiring an additional 661,418 shares during the period. Finally, Lazard Asset Management LLC increased its stake in Global Business Travel Group by 439.0% in the first quarter. Lazard Asset Management LLC now owns 545,145 shares of the company’s stock valued at $3,042,000 after acquiring an additional 444,003 shares during the period. Institutional investors own 82.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on GBTG shares. Evercore downgraded shares of Global Business Travel Group from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft set a $8.20 price objective on shares of Global Business Travel Group in a report on Wednesday, March 11th. Wall Street Zen cut shares of Global Business Travel Group from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Morgan Stanley decreased their target price on Global Business Travel Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Monday, March 9th. Finally, Citigroup lowered their price target on Global Business Travel Group from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday, March 12th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus 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.