Global Business Travel Group (NYSE:GBTG) Releases Earnings Results, Misses Expectations By $0.03 EPS

Global Business Travel Group (NYSE:GBTG) posted 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. The company had revenue of $870.00 million during the quarter, compared to analyst estimates of $810.60 million. Global Business Travel Group had a net margin of 2.93% and a return on equity of 2.51%. The company’s quarterly revenue was up 37.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.03 EPS.

Global Business Travel Group Price Performance

Shares of Global Business Travel Group stock traded up $0.01 on Wednesday, hitting $9.44. The company’s stock had a trading volume of 1,111,612 shares, compared to its average volume of 2,658,533. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.90. Global Business Travel Group has a 52-week low of $4.95 and a 52-week high of $9.54. The company has a market capitalization of $4.92 billion, a P/E ratio of 55.50 and a beta of 0.93. The firm has a fifty day moving average price of $9.39 and a 200-day moving average price of $7.51.

Analysts Set New Price Targets

GBTG has been the subject of several research analyst reports. Weiss Ratings upgraded Global Business Travel Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Lake Street Capital set a $9.50 price target on shares of Global Business Travel Group in a research note 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 report on Tuesday, April 7th. They set a “neutral” rating and a $6.50 target price on the stock. Finally, Wall Street Zen cut Global Business Travel Group from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $8.90.

Insider Buying and Selling at Global Business Travel Group

In other Global Business Travel Group news, insider Eric J. Bock sold 90,886 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $9.35, for a total value of $849,784.10. Following the completion of the transaction, the insider owned 773,956 shares in the company, valued at $7,236,488.60. This represents a 10.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Karen A. Williams sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $9.35, for a total value of $93,500.00. Following the sale, the chief financial officer owned 596,157 shares of the company’s stock, valued at $5,574,067.95. This represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 1,572,683 shares of company stock valued at $14,704,271. Corporate insiders own 5.40% of the company’s stock.

Institutional Trading of Global Business Travel Group

Hedge funds have recently made changes to their positions in the stock. Quantbot Technologies LP bought a new position in shares of Global Business Travel Group in the third quarter valued at approximately $26,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Global Business Travel Group during the 4th quarter valued at about $32,000. Advisory Services Network LLC acquired a new stake in shares of Global Business Travel Group in the third quarter valued at about $61,000. Creative Planning acquired a new position in shares of Global Business Travel Group during the second quarter worth approximately $67,000. Finally, Russell Investments Group Ltd. raised its position in shares of Global Business Travel Group by 1,238.9% during the third quarter. Russell Investments Group Ltd. now owns 9,024 shares of the company’s stock valued at $73,000 after buying an additional 8,350 shares during the last quarter. 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.