Global Blue Group (NYSE:GB) Trading 3.5% Higher – Here’s What Happened

Global Blue Group Holding AG (NYSE:GB)’s stock price rose 3.5% on Monday . The stock traded as high as $6.43 and last traded at $6.43. Approximately 3,297 shares changed hands during trading, a decline of 91% from the average daily volume of 36,110 shares. The stock had previously closed at $6.21.

Analyst Upgrades and Downgrades

Separately, Oppenheimer initiated coverage on shares of Global Blue Group in a report on Thursday, October 24th. They issued an “outperform” rating and a $6.00 target price for the company.

Global Blue Group Stock Performance

The company’s 50-day simple moving average is $5.75 and its 200 day simple moving average is $5.30. The stock has a market cap of $1.33 billion, a P/E ratio of 31.67 and a beta of 0.44. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 5.30.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Atom Investors LP grew its stake in Global Blue Group by 20.2% during the third quarter. Atom Investors LP now owns 75,001 shares of the company’s stock valued at $410,000 after acquiring an additional 12,625 shares in the last quarter. Scalar Gauge Management LLC grew its position in shares of Global Blue Group by 21.0% during the 3rd quarter. Scalar Gauge Management LLC now owns 288,983 shares of the company’s stock valued at $1,581,000 after purchasing an additional 50,100 shares in the last quarter. Independent Advisor Alliance purchased a new stake in shares of Global Blue Group in the third quarter worth $229,000. Sei Investments Co. boosted its stake in Global Blue Group by 8.6% during the second quarter. Sei Investments Co. now owns 109,435 shares of the company’s stock valued at $527,000 after buying an additional 8,646 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Global Blue Group by 1,640.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 5,061,307 shares of the company’s stock valued at $24,395,000 after acquiring an additional 4,770,550 shares in the last quarter. 89.66% of the stock is owned by institutional investors.

About Global Blue Group

Global Blue Group Holding AG, together with its subsidiaries, provides technology-enabled transaction processing services for merchants, banks, acquirers, governments, and travelers in Europe, the Asia Pacific, and internationally. The company operates in three segments: Tax Free Shopping Technology Solutions (TFSS), Added-Value Payment Solutions (AVPS), and Retail Tech Solutions (RTS).