Global Business Travel Group, Inc. (NYSE:GBTG – Get Rating) was the target of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 491,400 shares, an increase of 13.8% from the November 30th total of 431,700 shares. Based on an average daily volume of 183,600 shares, the days-to-cover ratio is presently 2.7 days. Approximately 1.7% of the company’s stock are short sold.
Insider Buying and Selling
In other news, CFO Martine Gerow bought 10,000 shares of the company’s stock in a transaction on Wednesday, December 7th. The shares were purchased at an average price of $5.60 per share, with a total value of $56,000.00. Following the transaction, the chief financial officer now directly owns 422,310 shares in the company, valued at $2,364,936. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have bought 24,700 shares of company stock worth $128,442. 12.90% of the stock is owned by insiders.
Hedge Funds Weigh In On Global Business Travel Group
Several hedge funds have recently bought and sold shares of GBTG. Dendur Capital LP boosted its stake in Global Business Travel Group by 6.8% during the third quarter. Dendur Capital LP now owns 1,215,873 shares of the company’s stock valued at $6,882,000 after buying an additional 76,973 shares during the period. Vanguard Group Inc. bought a new position in shares of Global Business Travel Group in the third quarter worth approximately $1,127,000. JPMorgan Chase & Co. purchased a new stake in Global Business Travel Group in the second quarter valued at approximately $882,000. BlackRock Inc. bought a new stake in Global Business Travel Group during the third quarter valued at approximately $704,000. Finally, Cobalt Capital Management Inc. purchased a new position in Global Business Travel Group in the 2nd quarter worth approximately $327,000. Hedge funds and other institutional investors own 15.91% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts recently weighed in on GBTG shares. Citigroup assumed coverage on shares of Global Business Travel Group in a report on Wednesday, December 7th. They issued a “neutral” rating and a $6.50 price target on the stock. Evercore ISI started coverage on shares of Global Business Travel Group in a research report on Wednesday, December 21st. They set an “outperform” rating and a $8.00 target price for the company. Credit Suisse Group assumed coverage on shares of Global Business Travel Group in a report on Friday, September 30th. They issued an “outperform” rating and a $9.00 price target on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on Global Business Travel Group in a report on Monday, October 3rd. They set a “buy” rating and a $7.10 price objective for the company. Finally, Morgan Stanley started coverage on Global Business Travel Group in a research report on Wednesday, September 14th. They set an “equal weight” rating and a $9.00 price target on the stock. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Global Business Travel Group has an average rating of “Moderate Buy” and an average target price of $8.68.
Global Business Travel Group Stock Performance
GBTG stock traded up $0.11 during midday trading on Monday, reaching $6.75. 4,978 shares of the company’s stock traded hands, compared to its average volume of 399,931. The company has a 50-day moving average price of $5.51 and a two-hundred day moving average price of $6.13. Global Business Travel Group has a 52 week low of $4.26 and a 52 week high of $10.01. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.04.
Global Business Travel Group (NYSE:GBTG – Get Rating) last released its quarterly earnings data on Thursday, November 10th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.31). The company had revenue of $488.00 million during the quarter, compared to the consensus estimate of $481.29 million. Sell-side analysts forecast that Global Business Travel Group will post -0.49 earnings per share for the current year.
About Global Business Travel Group
Global Business Travel Group, Inc provides business-to-business (B2B) travel platform. The company’s platform offers a suite of technology-enabled solutions to business travelers and corporate clients, travel content suppliers, and third-party travel agencies. Its platform manages travel, expenses, and meetings and events for companies.
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