Global Business Travel Group (NYSE:GBTG) Hits New 52-Week High – Still a Buy?

Global Business Travel Group, Inc. (NYSE:GBTG) shares reached a new 52-week high on Wednesday . The company traded as high as $8.39 and last traded at $8.23, with a volume of 48415 shares changing hands. The stock had previously closed at $7.73.

Analyst Ratings Changes

GBTG has been the topic of several research reports. Citigroup lifted their price target on shares of Global Business Travel Group from $9.00 to $9.50 and gave the company a “buy” rating in a report on Friday, October 4th. Evercore ISI increased their price target on Global Business Travel Group from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th.

Global Business Travel Group Price Performance

The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.11. The stock has a market cap of $3.92 billion, a P/E ratio of -85.00 and a beta of 0.63. The business has a 50-day simple moving average of $7.47 and a 200 day simple moving average of $6.79.

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 analysts’ consensus estimates of ($0.08) by ($0.14). Global Business Travel Group had a negative return on equity of 1.26% and a negative net margin of 1.66%. The firm had revenue of $597.00 million during the quarter, compared to analyst estimates of $611.89 million. During the same quarter last year, the firm posted ($0.02) EPS. On average, analysts forecast that Global Business Travel Group, Inc. will post -0.08 earnings per share for the current year.

Global Business Travel Group announced that its board has approved a share repurchase program on Tuesday, November 5th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to purchase up to 8.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Global Business Travel Group

Hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in Global Business Travel Group by 1,116.6% during the second quarter. Bank of New York Mellon Corp now owns 1,007,861 shares of the company’s stock worth $6,652,000 after acquiring an additional 925,018 shares during the period. Vanguard Group Inc. raised its stake in shares of Global Business Travel Group by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 971,900 shares of the company’s stock worth $5,841,000 after purchasing an additional 10,446 shares during the period. Tidal Investments LLC purchased a new position in shares of Global Business Travel Group in the 1st quarter worth about $3,383,000. Rhumbline Advisers grew its position in Global Business Travel Group by 419.3% during the second quarter. Rhumbline Advisers now owns 143,883 shares of the company’s stock valued at $950,000 after buying an additional 116,175 shares during the period. Finally, Ionic Capital Management LLC increased its holdings in Global Business Travel Group by 480.1% during the first quarter. Ionic Capital Management LLC now owns 131,245 shares of the company’s stock worth $789,000 after buying an additional 108,619 shares during the last quarter. Institutional investors and hedge funds own 82.46% of the company’s stock.

About Global Business Travel Group

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.