Global Business Travel Group, Inc. (NYSE:GBTG) Sees Large Drop in Short Interest

Global Business Travel Group, Inc. (NYSE:GBTG) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 3,260,000 shares, a decline of 9.4% from the August 15th total of 3,600,000 shares. Currently, 1.8% of the shares of the stock are short sold. Based on an average daily volume of 887,600 shares, the days-to-cover ratio is currently 3.7 days.

Global Business Travel Group Trading Up 0.4 %

Shares of GBTG stock traded up $0.03 during trading hours on Tuesday, hitting $7.39. 1,220,966 shares of the company were exchanged, compared to its average volume of 506,124. The firm has a fifty day moving average of $6.87 and a 200 day moving average of $6.35. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.11. Global Business Travel Group has a 1 year low of $4.49 and a 1 year high of $7.47. The firm has a market cap of $3.49 billion, a PE ratio of -18.95 and a beta of 0.63.

Global Business Travel Group (NYSE:GBTG) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.11. Global Business Travel Group had a negative net margin of 1.66% and a negative return on equity of 1.26%. The company had revenue of $625.00 million for the quarter, compared to the consensus estimate of $643.97 million. Analysts expect that Global Business Travel Group will post -0.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GBTG. Citigroup upped their price objective on shares of Global Business Travel Group from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Evercore ISI increased their price target on Global Business Travel Group from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in shares of Global Business Travel Group by 1,116.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,007,861 shares of the company’s stock valued at $6,652,000 after acquiring an additional 925,018 shares during the period. Tidal Investments LLC purchased a new position in Global Business Travel Group in the first quarter valued at about $3,383,000. Par Capital Management Inc. lifted its stake in shares of Global Business Travel Group by 42.1% during the fourth quarter. Par Capital Management Inc. now owns 770,000 shares of the company’s stock worth $4,966,000 after purchasing an additional 228,149 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Global Business Travel Group by 419.3% in the second quarter. Rhumbline Advisers now owns 143,883 shares of the company’s stock worth $950,000 after buying an additional 116,175 shares during the period. Finally, Ionic Capital Management LLC grew its stake in shares of Global Business Travel Group by 480.1% in the first quarter. Ionic Capital Management LLC now owns 131,245 shares of the company’s stock valued at $789,000 after buying an additional 108,619 shares in 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.