Global Business Travel Group (NYSE:GBTG) Shares Gap Up – Time to Buy?

Global Business Travel Group, Inc. (NYSE:GBTG)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $5.04, but opened at $5.52. Global Business Travel Group shares last traded at $5.3950, with a volume of 430,849 shares.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective 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. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Global Business Travel Group in a report on Monday, December 29th. Evercore raised their price objective on Global Business Travel Group from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Monday, December 1st. Finally, Zacks Research raised Global Business Travel Group from a “strong sell” rating to a “hold” rating in a research report on Friday, January 9th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $10.25.

Global Business Travel Group Price Performance

The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a market capitalization of $2.87 billion, a PE ratio of 273.75 and a beta of 0.73. The company’s fifty day simple moving average is $7.23 and its two-hundred day simple moving average is $7.61.

Hedge Funds Weigh In On Global Business Travel Group

Several institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC lifted its position in shares of Global Business Travel Group by 21.1% during the third quarter. CWM LLC now owns 7,630 shares of the company’s stock worth $62,000 after purchasing an additional 1,332 shares in the last quarter. Landscape Capital Management L.L.C. lifted its holdings in Global Business Travel Group by 17.1% in the 4th quarter. Landscape Capital Management L.L.C. now owns 14,567 shares of the company’s stock worth $111,000 after buying an additional 2,125 shares in the last quarter. California State Teachers Retirement System boosted its position in Global Business Travel Group by 2.5% in the 4th quarter. California State Teachers Retirement System now owns 88,896 shares of the company’s stock valued at $680,000 after buying an additional 2,143 shares during the last quarter. State of Wyoming grew its stake in shares of Global Business Travel Group by 6.5% during the second quarter. State of Wyoming now owns 40,964 shares of the company’s stock valued at $258,000 after acquiring an additional 2,504 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Global Business Travel Group by 28.2% during the fourth quarter. Russell Investments Group Ltd. now owns 11,573 shares of the company’s stock worth $89,000 after acquiring an additional 2,549 shares during the last quarter. 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.