Global Blue Group (NYSE:GB) Sets New 52-Week High – Here’s Why

Shares of Global Blue Group Holding AG (NYSE:GB) reached a new 52-week high during trading on Tuesday . The stock traded as high as $6.50 and last traded at $6.50, with a volume of 12149 shares changing hands. The stock had previously closed at $6.45.

Analyst Upgrades and Downgrades

Separately, Oppenheimer began coverage on shares of Global Blue Group in a research report on Thursday, October 24th. They issued an “outperform” rating and a $6.00 price objective on the stock.

Global Blue Group Price Performance

The stock has a 50-day moving average price of $5.72 and a two-hundred day moving average price of $5.29. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 5.30. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 31.86 and a beta of 0.44.

Institutional Investors Weigh In On Global Blue Group

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

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).