Global Business Travel Group (NYSE:GBTG) Trading Down 6.1% – Here’s What Happened

Shares of Global Business Travel Group, Inc. (NYSE:GBTG) dropped 6.1% on Wednesday . The stock traded as low as $7.44 and last traded at $7.5050. Approximately 655,944 shares were traded during mid-day trading, a decline of 45% from the average daily volume of 1,197,913 shares. The stock had previously closed at $7.99.

Wall Street Analysts Forecast Growth

GBTG has been the topic of several recent analyst reports. Zacks Research upgraded shares of Global Business Travel Group from a “strong sell” rating to a “hold” rating in a research report on Friday, January 9th. Morgan Stanley lifted their price target on shares of Global Business Travel Group from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Tuesday, November 11th. Evercore ISI increased their price objective on shares of Global Business Travel Group from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Monday, December 1st. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Global Business Travel Group in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $10.25.

Global Business Travel Group Price Performance

The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.89. The firm’s 50-day moving average price is $7.72 and its 200-day moving average price is $7.60. The stock has a market capitalization of $3.92 billion, a PE ratio of 374.50 and a beta of 0.73.

Global Business Travel Group (NYSE:GBTG) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.09). The company had revenue of $674.00 million for the quarter, compared to the consensus estimate of $615.39 million. Global Business Travel Group had a return on equity of 3.52% and a net margin of 0.40%.Global Business Travel Group’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, equities analysts forecast that Global Business Travel Group, Inc. will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GBTG. Advantage Alpha Capital Partners LP grew its stake in Global Business Travel Group by 13.0% in the 2nd quarter. Advantage Alpha Capital Partners LP now owns 795,691 shares of the company’s stock worth $5,013,000 after acquiring an additional 91,374 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Global Business Travel Group by 66.6% in the first quarter. Goldman Sachs Group Inc. now owns 736,472 shares of the company’s stock valued at $5,347,000 after purchasing an additional 294,527 shares during the period. Strs Ohio purchased a new stake in shares of Global Business Travel Group in the first quarter valued at approximately $297,000. Ares Management LLC grew its stake in Global Business Travel Group by 21.8% in the second quarter. Ares Management LLC now owns 13,886,023 shares of the company’s stock worth $87,482,000 after purchasing an additional 2,489,506 shares in the last quarter. Finally, PB Investment Partners L.P. increased its holdings in Global Business Travel Group by 36.2% during the 2nd quarter. PB Investment Partners L.P. now owns 835,496 shares of the company’s stock worth $5,264,000 after purchasing an additional 222,232 shares during the period. Hedge funds and other institutional investors own 82.46% of the company’s stock.

About Global Business Travel Group

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.