Global Blue Group (NYSE:GB) Shares Gap Up – Here’s What Happened

Global Blue Group Holding AG (NYSE:GB)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $5.67, but opened at $6.00. Global Blue Group shares last traded at $5.70, with a volume of 3,060 shares traded.

Wall Street Analyst Weigh In

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

Global Blue Group Trading Up 6.2 %

The company has a debt-to-equity ratio of 5.30, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 27.00 and a beta of 0.44. The business has a 50 day moving average of $5.50 and a 200 day moving average of $5.17.

Hedge Funds Weigh In On Global Blue Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Global Blue Group by 1,640.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 5,061,307 shares of the company’s stock valued at $24,395,000 after purchasing an additional 4,770,550 shares during the last quarter. Scalar Gauge Management LLC boosted its stake 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 worth $1,581,000 after buying an additional 50,100 shares during the last quarter. Sei Investments Co. raised its holdings in Global Blue Group by 8.6% during the second quarter. Sei Investments Co. now owns 109,435 shares of the company’s stock worth $527,000 after acquiring an additional 8,646 shares in the last quarter. Atom Investors LP grew its position in shares of Global Blue Group by 20.2% in the 3rd 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 during the period. Finally, Independent Advisor Alliance acquired a new stake in Global Blue Group in the 3rd quarter valued at about $229,000. Institutional investors and hedge funds 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).