Global Business Travel Group (NYSE:GBTG) Coverage Initiated by Analysts at UBS Group

UBS Group assumed coverage on shares of Global Business Travel Group (NYSE:GBTG) in a report released on Friday morning, Marketbeat reports. The brokerage issued a buy rating and a $11.00 target price on the stock.

GBTG has been the subject of several other research reports. Evercore ISI raised their target price on shares of Global Business Travel Group from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Citigroup upped their target price 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.

Global Business Travel Group Trading Up 4.0 %

Global Business Travel Group stock opened at $9.44 on Friday. The stock has a market cap of $4.44 billion, a P/E ratio of -26.22 and a beta of 0.63. Global Business Travel Group has a 1 year low of $4.49 and a 1 year high of $9.46. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.56 and a quick ratio of 1.56. The firm’s 50 day moving average price is $7.91 and its 200-day moving average price is $7.03.

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

Global Business Travel Group announced that its Board of Directors has initiated a stock buyback plan on Tuesday, November 5th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to buy up to 8.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of Global Business Travel Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its holdings in 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 worth $6,652,000 after acquiring an additional 925,018 shares during the period. Tidal Investments LLC acquired a new stake in Global Business Travel Group in the 1st quarter valued at about $3,383,000. Geode Capital Management LLC raised its position in Global Business Travel Group by 19.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,339,395 shares of the company’s stock worth $17,993,000 after purchasing an additional 386,636 shares during the last quarter. State Street Corp lifted its stake in shares of Global Business Travel Group by 21.7% during the third quarter. State Street Corp now owns 1,946,990 shares of the company’s stock valued at $14,972,000 after acquiring an additional 346,540 shares during the period. Finally, Advantage Alpha Capital Partners LP acquired a new stake in shares of Global Business Travel Group during the 3rd quarter worth approximately $2,077,000. 82.46% of the stock is currently owned by institutional investors.

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.