Global Business Travel Group (NYSE:GBTG) Reaches New 52-Week High – Should You Buy?

Global Business Travel Group, Inc. (NYSE:GBTG)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $9.16 and last traded at $9.13, with a volume of 478481 shares changing hands. The stock had previously closed at $8.87.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Evercore ISI raised their price objective on Global Business Travel Group from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Citigroup raised their price objective on Global Business Travel Group from $9.00 to $9.50 and gave the company a “buy” rating in a research report on Friday, October 4th.

Global Business Travel Group Stock Performance

The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.56 and a current ratio of 1.56. The stock has a 50-day moving average price of $7.75 and a 200-day moving average price of $6.96.

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

Global Business Travel Group declared that its Board of Directors has approved a share buyback plan 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 plans are typically an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Global Business Travel Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Amalgamated Bank boosted its stake in Global Business Travel Group by 299.1% in the second quarter. Amalgamated Bank now owns 4,342 shares of the company’s stock valued at $29,000 after acquiring an additional 3,254 shares during the period. Vanguard Group Inc. boosted its stake in Global Business Travel Group by 1.1% in the first quarter. Vanguard Group Inc. now owns 971,900 shares of the company’s stock valued at $5,841,000 after acquiring an additional 10,446 shares during the period. Verition Fund Management LLC acquired a new position in Global Business Travel Group in the third quarter valued at approximately $98,000. Principal Financial Group Inc. acquired a new position in Global Business Travel Group in the second quarter valued at approximately $108,000. Finally, The Manufacturers Life Insurance Company boosted its stake in Global Business Travel Group by 31.7% in the third quarter. The Manufacturers Life Insurance Company now owns 71,901 shares of the company’s stock valued at $553,000 after acquiring an additional 17,313 shares during the period. 82.46% of the stock is currently owned by institutional investors and hedge funds.

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.