Insider Selling: Global Business Travel Group (NYSE:GBTG) CEO Sells 574,317 Shares of Stock

Global Business Travel Group, Inc. (NYSE:GBTG) CEO Paul Abbott sold 574,317 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 2,582,911 shares in the company, valued at approximately $24,150,217.85. This represents a 18.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Global Business Travel Group Stock Performance

NYSE:GBTG traded down $0.01 during mid-day trading on Monday, reaching $9.36. 930,335 shares of the company’s stock were exchanged, compared to its average volume of 2,818,420. Global Business Travel Group, Inc. has a one year low of $4.95 and a one year high of $9.54. The firm has a market capitalization of $4.88 billion, a PE ratio of 55.03 and a beta of 0.93. The business’s fifty day simple moving average is $7.87 and its two-hundred day simple moving average is $7.11. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.18 and a current ratio of 1.18.

Global Business Travel Group (NYSE:GBTG) last released its quarterly earnings results on Monday, May 4th. The company reported $0.10 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $814.55 million. Global Business Travel Group’s quarterly revenue was up 35.3% on a year-over-year basis. Analysts anticipate that Global Business Travel Group, Inc. will post 0.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Global Business Travel Group

A number of large investors have recently bought and sold shares of the company. Redwood Capital Management LLC acquired a new stake in Global Business Travel Group during the third quarter worth about $173,347,000. Vanguard Group Inc. boosted its stake in shares of Global Business Travel Group by 24.7% in the 4th quarter. Vanguard Group Inc. now owns 13,857,451 shares of the company’s stock valued at $106,010,000 after purchasing an additional 2,744,068 shares in the last quarter. Attestor Capital Ltd acquired a new stake in shares of Global Business Travel Group in the 4th quarter valued at approximately $67,917,000. Monarch Alternative Capital LP boosted its stake in shares of Global Business Travel Group by 9.3% in the 1st quarter. Monarch Alternative Capital LP now owns 7,800,000 shares of the company’s stock valued at $43,524,000 after purchasing an additional 661,418 shares in the last quarter. Finally, Anchorage Capital Advisors L.P. acquired a new stake in shares of Global Business Travel Group in the 3rd quarter valued at approximately $58,073,000. 82.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GBTG shares. Evercore lowered shares of Global Business Travel Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. BTIG Research downgraded shares of Global Business Travel Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft set a $8.20 price objective on shares of Global Business Travel Group in a research note on Wednesday, March 11th. Morgan Stanley reduced their price objective on shares of Global Business Travel Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Monday, March 9th. Finally, Wall Street Zen downgraded shares of 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 given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.