Global Business Travel Group (NYSE:GBTG) Sees Unusually-High Trading Volume – Time to Buy?

Global Business Travel Group, Inc. (NYSE:GBTG) shares saw unusually-high trading volume on Thursday . Approximately 6,837,316 shares changed hands during mid-day trading, an increase of 176% from the previous session’s volume of 2,473,629 shares.The stock last traded at $9.4650 and had previously closed at $9.47.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Global Business Travel Group in a report on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $8.90.

Global Business Travel Group Stock Performance

The business’s 50-day simple moving average is $9.45 and its two-hundred day simple moving average is $8.26. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 55.68 and a beta of 0.93. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.88.

Global Business Travel Group (NYSE:GBTG) last posted its earnings results on Tuesday, August 4th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). Global Business Travel Group had a net margin of 2.77% and a return on equity of 2.47%. The business had revenue of $870.00 million for the quarter, compared to analyst estimates of $810.60 million. During the same quarter last year, the business earned $0.03 earnings per share. Global Business Travel Group’s revenue was up 37.9% on a year-over-year basis. As a group, sell-side analysts expect that Global Business Travel Group, Inc. will post 0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Global Business Travel Group news, CFO Karen Williams sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $9.43, for a total value of $188,600.00. Following the sale, the chief financial officer directly owned 548,257 shares of the company’s stock, valued at approximately $5,170,063.51. This trade represents a 3.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric Bock sold 64,780 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $9.46, for a total value of $612,818.80. Following the completion of the sale, the insider owned 699,177 shares of the company’s stock, valued at $6,614,214.42. This trade represents a 8.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 777,442 shares of company stock worth $7,333,521. 5.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Global Business Travel Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in GBTG. Arizona State Retirement System lifted its holdings in Global Business Travel Group by 6.8% during the second quarter. Arizona State Retirement System now owns 31,047 shares of the company’s stock valued at $292,000 after purchasing an additional 1,966 shares in the last quarter. Allworth Financial LP increased its stake in shares of Global Business Travel Group by 683.3% during the second quarter. Allworth Financial LP now owns 3,713 shares of the company’s stock worth $35,000 after purchasing an additional 3,239 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Global Business Travel Group by 47.8% during the fourth quarter. ProShare Advisors LLC now owns 23,874 shares of the company’s stock worth $183,000 after purchasing an additional 7,716 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of Global Business Travel Group by 28.2% during the 2nd quarter. Handelsbanken Fonder AB now owns 39,600 shares of the company’s stock worth $372,000 after purchasing an additional 8,700 shares during the last quarter. Finally, Stoneridge Investment Partners LLC acquired a new position in shares of Global Business Travel Group during the 2nd quarter worth about $95,000. Hedge funds and other institutional investors own 82.46% of the company’s stock.

About Global Business Travel Group

Global Business Travel Group, Inc (NYSE: GBTG) is a corporate travel management company that provides business travel, meetings and events, and related travel services to organizations worldwide. The company helps businesses manage employee travel programs, arrange transportation and lodging, support travel policy compliance, and improve the efficiency of travel-related spending.

Through its American Express Global Business Travel platform, the company offers booking and travel management tools, traveler support, expense-related solutions, and data and reporting services.