Insider Selling: Global Business Travel Group (NYSE:GBTG) Insider Sells 356,222 Shares of Stock

Global Business Travel Group, Inc. (NYSE:GBTG) insider Evan Konwiser sold 356,222 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $9.34, for a total transaction of $3,327,113.48. Following the completion of the sale, the insider directly owned 502,641 shares of the company’s stock, valued at approximately $4,694,666.94. This trade represents a 41.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Global Business Travel Group Stock Performance

Shares of NYSE:GBTG traded up $0.02 on Thursday, reaching $9.36. The company’s stock had a trading volume of 3,300,405 shares, compared to its average volume of 2,850,619. The stock’s 50-day moving average is $7.72 and its two-hundred day moving average is $7.08. Global Business Travel Group, Inc. has a 52-week low of $4.95 and a 52-week high of $9.54. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a market capitalization of $4.88 billion, a P/E ratio of 55.03 and a beta of 0.93.

Global Business Travel Group (NYSE:GBTG) last issued its earnings results on Monday, May 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.05. The company had revenue of $840.00 million for the quarter, compared to analyst estimates of $814.55 million. Global Business Travel Group had a net margin of 2.93% and a return on equity of 2.51%. Global Business Travel Group’s revenue was up 35.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Global Business Travel Group, Inc. will post 0.18 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on GBTG shares. Citigroup dropped their price target on shares of Global Business Travel Group from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday, March 12th. UBS Group decreased their price objective on shares of Global Business Travel Group from $11.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, March 10th. Bank of America initiated coverage on shares of Global Business Travel Group in a report on Tuesday, April 7th. They set a “neutral” rating and a $6.50 price objective for the company. BTIG Research lowered shares of Global Business Travel Group from a “buy” rating to a “neutral” rating 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 equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Global Business Travel Group has a consensus rating of “Hold” and an average price target of $8.90.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP bought a new stake in Global Business Travel Group in the third quarter worth approximately $26,000. Northwestern Mutual Wealth Management Co. bought a new stake in Global Business Travel Group in the fourth quarter worth approximately $32,000. Advisory Services Network LLC bought a new stake in Global Business Travel Group in the third quarter worth approximately $61,000. Russell Investments Group Ltd. grew its position in Global Business Travel Group by 1,238.9% in the third quarter. Russell Investments Group Ltd. now owns 9,024 shares of the company’s stock worth $73,000 after acquiring an additional 8,350 shares in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new stake in Global Business Travel Group in the third quarter worth approximately $81,000. 82.46% of the stock is owned by hedge funds and other institutional investors.

Global Business Travel Group Company Profile

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.