Global Business Travel Group (NYSE:GBTG) Stock Price Down 3.8%

Global Business Travel Group, Inc. (NYSE:GBTG)’s stock price was down 3.8% on Wednesday . The stock traded as low as $5.19 and last traded at $5.26. Approximately 76,772 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 146,989 shares. The stock had previously closed at $5.47.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GBTG shares. Credit Suisse Group increased their price objective on shares of Global Business Travel Group from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, August 11th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Global Business Travel Group from $8.80 to $9.00 and gave the stock a “buy” rating in a research note on Friday, August 11th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.90.

Global Business Travel Group Stock Up 4.7 %

The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 1.01. The business’s fifty day simple moving average is $6.64 and its 200-day simple moving average is $6.73.

Global Business Travel Group (NYSE:GBTG) last posted its earnings results on Thursday, August 10th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.16). Global Business Travel Group had a negative net margin of 2.84% and a negative return on equity of 4.74%. The business had revenue of $592.00 million during the quarter, compared to analysts’ expectations of $560.35 million. Analysts forecast that Global Business Travel Group, Inc. will post -0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. California State Teachers Retirement System purchased a new position in Global Business Travel Group during the second quarter worth $78,000. Credit Suisse AG purchased a new position in Global Business Travel Group during the second quarter worth $69,000. Citigroup Inc. purchased a new position in Global Business Travel Group during the second quarter worth $69,000. Barclays PLC purchased a new position in Global Business Travel Group during the second quarter worth $47,000. Finally, Carronade Capital Management LP boosted its stake in Global Business Travel Group by 7.1% during the second quarter. Carronade Capital Management LP now owns 3,297,158 shares of the company’s stock worth $23,838,000 after buying an additional 217,561 shares during the period. 96.92% of the stock is owned by hedge funds and other institutional investors.

About Global Business Travel Group

Global Business Travel Group, Inc provides business-to-business (B2B) travel platform in the United States 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.