Global Business Travel Group (NYSE:GBTG) Reaches New 52-Week High at $7.11

Global Business Travel Group, Inc. (NYSE:GBTG)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $7.11 and last traded at $7.11, with a volume of 324581 shares. The stock had previously closed at $6.89.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Citigroup increased their price target on Global Business Travel Group from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Evercore ISI lifted their price objective on Global Business Travel Group from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th.

Global Business Travel Group Stock Up 2.0 %

The firm has a market cap of $3.32 billion, a price-to-earnings ratio of -17.69 and a beta of 0.62. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.15. The firm has a fifty day moving average price of $6.58 and a 200-day moving average price of $6.15.

Institutional Trading of Global Business Travel Group

Several hedge funds and other institutional investors have recently bought and sold shares of GBTG. American Express Co acquired a new position in Global Business Travel Group in the 4th quarter worth approximately $1,017,721,000. Tidal Investments LLC acquired a new stake in shares of Global Business Travel Group during the 1st quarter valued at about $3,383,000. Par Capital Management Inc. boosted its position in Global Business Travel Group by 42.1% in the fourth quarter. Par Capital Management Inc. now owns 770,000 shares of the company’s stock valued at $4,966,000 after buying an additional 228,149 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Global Business Travel Group by 53.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,650 shares of the company’s stock valued at $43,000 after buying an additional 2,323 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Global Business Travel Group by 431.2% during the second quarter. Renaissance Technologies LLC now owns 105,700 shares of the company’s stock worth $698,000 after purchasing an additional 85,800 shares in the last quarter. 82.46% of the stock is owned by institutional investors.

Global Business Travel Group Company Profile

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, such as airlines, hotels, ground transportation, and aggregators; and third-party travel agencies.