Global Business Travel Group (NYSE:GBTG) Reaches New 1-Year High – Time to Buy?

Global Business Travel Group, Inc. (NYSE:GBTG)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $9.65 and last traded at $9.65, with a volume of 327 shares changing hands. The stock had previously closed at $9.44.

Wall Street Analyst Weigh In

A number of research firms recently commented on GBTG. Citigroup increased their price target on Global Business Travel Group from $9.00 to $9.50 and gave the stock a “buy” rating in a research report on Friday, October 4th. Evercore ISI increased their target price on Global Business Travel Group from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, UBS Group started coverage on Global Business Travel Group in a report on Friday, November 22nd. They issued a “buy” rating and a $11.00 price target for the company.

Global Business Travel Group Stock Performance

The stock has a market cap of $4.47 billion, a price-to-earnings ratio of -26.39 and a beta of 0.63. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.24. The firm has a fifty day simple moving average of $8.00 and a 200-day simple moving average of $7.09.

Global Business Travel Group (NYSE:GBTG) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.14). The firm had revenue of $597.00 million for the quarter, compared to analyst estimates of $611.89 million. Global Business Travel Group had a negative net margin of 7.06% and a negative return on equity of 9.70%. During the same period last year, the company earned ($0.02) EPS. Analysts forecast that Global Business Travel Group, Inc. will post -0.17 EPS for the current fiscal year.

Global Business Travel Group announced that its Board of Directors has approved a stock repurchase program on Tuesday, November 5th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to buy up to 8.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Global Business Travel Group

Large investors have recently bought and sold shares of the business. Amalgamated Bank grew its holdings in Global Business Travel Group by 299.1% during the 2nd quarter. Amalgamated Bank now owns 4,342 shares of the company’s stock worth $29,000 after acquiring an additional 3,254 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Global Business Travel Group during the third quarter worth $98,000. Principal Financial Group Inc. bought a new stake in Global Business Travel Group in the second quarter valued at about $108,000. Quadrature Capital Ltd acquired a new position in Global Business Travel Group in the third quarter valued at about $137,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Global Business Travel Group during the second quarter worth about $143,000. 82.46% of the stock is currently owned by institutional investors and hedge funds.

Global Business Travel Group Company Profile

Global Business Travel Group, Inc provides business-to-business (B2B) travel platform in the United States and internationally. The company's platform offers a suite of technology-enabled solutions to business travelers and clients; travel content suppliers, such as airlines, hotels, ground transportation, and aggregators; and third-party travel agencies.