Global Business Travel Group (NYSE:GBTG) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Global Business Travel Group (NYSE:GBTG) announced its earnings results on Tuesday. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03), Zacks reports. Global Business Travel Group had a net margin of 2.93% and a return on equity of 2.51%. During the same period in the prior year, the company posted $0.03 EPS. The firm’s quarterly revenue was up 37.9% compared to the same quarter last year.

Global Business Travel Group Stock Performance

Shares of NYSE:GBTG traded up $0.01 during mid-day trading on Tuesday, reaching $9.44. 460,208 shares of the company traded hands, compared to its average volume of 2,648,114. The company’s 50 day moving average price is $9.39 and its 200-day moving average price is $7.50. The firm has a market cap of $4.92 billion, a PE ratio of 55.50 and a beta of 0.93. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.18 and a quick ratio of 1.18. Global Business Travel Group has a 52 week low of $4.95 and a 52 week high of $9.54.

Insider Activity at Global Business Travel Group

In related news, CFO Karen A. Williams sold 10,000 shares of Global Business Travel Group stock in a transaction on Monday, June 8th. The shares were sold at an average price of $9.35, for a total transaction of $93,500.00. Following the transaction, the chief financial officer owned 596,157 shares in the company, valued at approximately $5,574,067.95. The trade was a 1.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric J. Bock sold 90,886 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $9.35, for a total value of $849,784.10. Following the sale, the insider directly owned 773,956 shares in the company, valued at approximately $7,236,488.60. This represents a 10.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,572,683 shares of company stock worth $14,704,271 in the last 90 days. Insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Global Business Travel Group

Hedge funds have recently made changes to their positions in the company. Invesco Ltd. increased its stake in Global Business Travel Group by 20.9% in the 4th quarter. Invesco Ltd. now owns 141,062 shares of the company’s stock worth $1,079,000 after acquiring an additional 24,353 shares during the last quarter. DCM Advisors LLC bought a new stake in Global Business Travel Group in the fourth quarter worth $410,000. Vident Advisory LLC bought a new position in Global Business Travel Group during the fourth quarter valued at $344,000. XTX Topco Ltd grew its stake in shares of Global Business Travel Group by 1,744.4% in the 4th quarter. XTX Topco Ltd now owns 232,689 shares of the company’s stock worth $1,780,000 after buying an additional 220,073 shares in the last quarter. Finally, Occudo Quantitative Strategies LP bought a new stake in shares of Global Business Travel Group in the 4th quarter worth about $339,000. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. BTIG Research downgraded shares of Global Business Travel Group from a “buy” rating to a “neutral” rating in a research report on Monday, May 4th. Evercore lowered shares of Global Business Travel Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Bank of America began coverage on shares of Global Business Travel Group in a research report on Tuesday, April 7th. They set a “neutral” rating and a $6.50 price target on the stock. Weiss Ratings upgraded shares of Global Business Travel Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Finally, Lake Street Capital set a $9.50 target price on Global Business Travel Group in a report on Monday, May 4th. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Global Business Travel Group currently has an average rating of “Hold” and an average target price of $8.90.

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.