Global Business Travel Group (NYSE:GBTG) Sets New 12-Month High – Time to Buy?

Global Business Travel Group, Inc. (NYSE:GBTG)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $8.88 and last traded at $8.85, with a volume of 51111 shares. The stock had previously closed at $8.74.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Evercore ISI lifted their price target on shares of 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. Citigroup increased 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 business has a 50 day moving average of $7.57 and a 200 day moving average of $6.86. The company has a quick ratio of 1.65, a current ratio of 1.56 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $4.15 billion, a P/E ratio of -24.29 and a beta of 0.63.

Global Business Travel Group (NYSE:GBTG) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.14). The business had revenue of $597.00 million during the quarter, compared to analysts’ expectations 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 period last year, the company earned ($0.02) earnings per share. On average, sell-side analysts predict that Global Business Travel Group, Inc. will post -0.21 earnings per share for the current year.

Global Business Travel Group declared that its Board of Directors has initiated a share repurchase program on Tuesday, November 5th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 8.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Global Business Travel Group

Several institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in Global Business Travel Group by 41.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 806,519 shares of the company’s stock worth $6,202,000 after purchasing an additional 237,682 shares during the period. Intech Investment Management LLC acquired a new position in Global Business Travel Group in the third quarter valued at approximately $219,000. Quest Partners LLC purchased a new stake in Global Business Travel Group in the 3rd quarter worth approximately $610,000. Entropy Technologies LP acquired a new position in shares of Global Business Travel Group in the 3rd quarter valued at $145,000. Finally, Jag Capital Management LLC acquired a new position in shares of Global Business Travel Group in the third quarter worth about $171,000. 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.