Insider Selling: Global Business Travel Group (NYSE:GBTG) CEO Sells $5,369,863.95 in Stock

Global Business Travel Group, Inc. (NYSE:GBTG) CEO Paul Abbott sold 574,317 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $9.35, for a total transaction of $5,369,863.95. Following the completion of the sale, the chief executive officer directly owned 2,582,911 shares of the company’s stock, valued at $24,150,217.85. This represents a 18.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Global Business Travel Group Trading Up 0.2%

Shares of GBTG opened at $9.38 on Thursday. 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, Inc. has a 1 year low of $4.95 and a 1 year high of $9.54. The company has a 50 day simple moving average of $8.10 and a two-hundred day simple moving average of $7.14. The firm has a market cap of $4.89 billion, a P/E ratio of 55.15 and a beta of 0.93.

Global Business Travel Group (NYSE:GBTG) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. Global Business Travel Group had a net margin of 2.93% and a return on equity of 2.51%. The business had revenue of $840.00 million during the quarter, compared to analyst estimates of $814.55 million. Global Business Travel Group’s revenue for the quarter was up 35.3% on a year-over-year basis. On average, equities analysts expect that Global Business Travel Group, Inc. will post 0.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GBTG shares. Citigroup cut their price objective on shares of Global Business Travel Group from $11.00 to $9.00 and set a “buy” rating for the company in a report on Thursday, March 12th. BTIG Research lowered shares of Global Business Travel Group from a “buy” rating to a “neutral” rating in a report on Monday, May 4th. Morgan Stanley cut their target price on shares of Global Business Travel Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday, March 9th. Lake Street Capital set a $9.50 target price on shares of Global Business Travel Group in a report on Monday, May 4th. Finally, Wall Street Zen lowered shares of Global Business Travel Group from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $8.90.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Amundi grew its holdings in shares of Global Business Travel Group by 145.3% in the first quarter. Amundi now owns 30,218 shares of the company’s stock valued at $169,000 after purchasing an additional 17,899 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of Global Business Travel Group by 43.0% in the first quarter. California State Teachers Retirement System now owns 127,138 shares of the company’s stock valued at $709,000 after purchasing an additional 38,242 shares in the last quarter. Quantinno Capital Management LP lifted its position in Global Business Travel Group by 720.9% in the first quarter. Quantinno Capital Management LP now owns 208,118 shares of the company’s stock worth $1,161,000 after buying an additional 182,765 shares during the last quarter. Monarch Alternative Capital LP lifted its position in Global Business Travel Group by 9.3% in the first quarter. Monarch Alternative Capital LP now owns 7,800,000 shares of the company’s stock worth $43,524,000 after buying an additional 661,418 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its position in Global Business Travel Group by 439.0% in the first quarter. Lazard Asset Management LLC now owns 545,145 shares of the company’s stock worth $3,042,000 after buying an additional 444,003 shares during the last quarter. 82.46% of the stock is owned by hedge funds and other institutional investors.

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.