Global Blue Group (NYSE:GB) Shares Gap Up – Here’s What Happened

Shares of Global Blue Group Holding AG (NYSE:GB) gapped up prior to trading on Wednesday . The stock had previously closed at $6.23, but opened at $7.34. Global Blue Group shares last traded at $7.33, with a volume of 760,948 shares traded.

Wall Street Analyst Weigh In

Separately, Oppenheimer initiated coverage on Global Blue Group in a research note on Thursday, October 24th. They set an “outperform” rating and a $6.00 price target for the company.

Global Blue Group Stock Performance

The firm has a market capitalization of $1.46 billion, a PE ratio of 34.88 and a beta of 0.41. The company has a debt-to-equity ratio of 5.30, a current ratio of 1.00 and a quick ratio of 1.00. The business has a 50-day simple moving average of $6.93 and a 200-day simple moving average of $5.90.

Global Blue Group (NYSE:GB) last released its quarterly earnings results on Friday, November 22nd. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Global Blue Group had a net margin of 10.29% and a return on equity of 44.01%. During the same quarter in the previous year, the firm posted $0.08 earnings per share. Equities research analysts expect that Global Blue Group Holding AG will post 0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Global Blue Group

Several hedge funds and other institutional investors have recently modified their holdings of GB. Bank of America Corp DE purchased a new stake in Global Blue Group in the fourth quarter worth $1,200,000. WCM Investment Management LLC grew its holdings in shares of Global Blue Group by 3.0% in the fourth quarter. WCM Investment Management LLC now owns 1,990,631 shares of the company’s stock worth $13,437,000 after purchasing an additional 57,889 shares during the last quarter. Scalar Gauge Management LLC increased its stake in Global Blue Group by 17.5% in the 4th quarter. Scalar Gauge Management LLC now owns 339,651 shares of the company’s stock worth $2,354,000 after buying an additional 50,668 shares during the period. Independent Advisor Alliance bought a new stake in Global Blue Group during the 3rd quarter valued at about $229,000. Finally, Renaissance Technologies LLC boosted its position in Global Blue Group by 74.8% in the 4th quarter. Renaissance Technologies LLC now owns 45,800 shares of the company’s stock valued at $317,000 after buying an additional 19,600 shares during the period. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

About Global Blue Group

Global Blue Group Holding AG, together with its subsidiaries, provides technology-enabled transaction processing services for merchants, banks, acquirers, governments, and travelers in Europe, the Asia Pacific, and internationally. The company operates in three segments: Tax Free Shopping Technology Solutions (TFSS), Added-Value Payment Solutions (AVPS), and Retail Tech Solutions (RTS).