Global Business Travel Group (NYSE:GBTG) Shares Gap Down to $6.99

Shares of Global Business Travel Group, Inc. (NYSE:GBTG – Get Rating) gapped down before the market opened on Tuesday . The stock had previously closed at $6.99, but opened at $6.78. Global Business Travel Group shares last traded at $6.87, with a volume of 15,858 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently commented on GBTG. Morgan Stanley lowered their price objective on Global Business Travel Group from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Friday, March 10th. Citigroup raised their price target on Global Business Travel Group from $6.50 to $7.50 in a report on Sunday, March 12th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $9.00 price objective on shares of Global Business Travel Group in a research note on Friday, March 10th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $8.68.

Global Business Travel Group Stock Up 2.9 %

The company has a market cap of $3.25 billion, a PE ratio of -11.27 and a beta of 0.27. The company has a fifty day moving average of $6.34 and a two-hundred day moving average of $6.33. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.64 and a current ratio of 1.64.

Global Business Travel Group (NYSE:GBTG – Get Rating) last issued its quarterly earnings results on Thursday, March 9th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.01. The company had revenue of $527.00 million for the quarter, compared to the consensus estimate of $505.15 million. Global Business Travel Group had a negative net margin of 1.30% and a negative return on equity of 2.09%. As a group, analysts anticipate that Global Business Travel Group, Inc. will post -0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Paul G. Abbott bought 8,147 shares of the stock in a transaction dated Tuesday, May 16th. The stock was purchased at an average cost of $6.25 per share, with a total value of $50,918.75. Following the completion of the purchase, the chief executive officer now owns 2,537,225 shares of the company’s stock, valued at $15,857,656.25. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Global Business Travel Group

Several large investors have recently added to or reduced their stakes in GBTG. Credit Suisse AG acquired a new stake in Global Business Travel Group in the second quarter valued at approximately $69,000. Cowen AND Company LLC acquired a new stake in Global Business Travel Group during the fourth quarter valued at $77,000. Virtu Financial LLC purchased a new position in Global Business Travel Group in the second quarter valued at $80,000. Parallax Volatility Advisers L.P. acquired a new position in shares of Global Business Travel Group in the fourth quarter worth about $120,000. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of Global Business Travel Group by 8.2% during the 1st quarter. Rockefeller Capital Management L.P. now owns 21,623 shares of the company’s stock worth $143,000 after acquiring an additional 1,630 shares in the last quarter. 15.91% of the stock is owned by hedge funds and other institutional investors.

Global Business Travel Group Company Profile

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Global Business Travel Group, Inc provides business-to-business (B2B) travel platform in the United States of America and internationally. The company's platform offers a suite of technology-enabled solutions to business travelers and clients; travel content suppliers including airlines, hotels, ground transportation, and aggregators; and third-party travel agencies.