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

Global Blue Group Holding AG (NYSE:GB)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $6.23, but opened at $7.34. Global Blue Group shares last traded at $7.33, with a volume of 760,948 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 set an “outperform” rating and a $6.00 price objective for the company.

Global Blue Group Price Performance

The firm has a 50-day simple moving average of $6.98 and a two-hundred day simple moving average of $5.92. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 34.83 and a beta of 0.41. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 5.30.

Global Blue Group (NYSE:GB) last posted its earnings results on Friday, November 22nd. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Global Blue Group had a return on equity of 44.01% and a net margin of 10.29%. During the same quarter last year, the business earned $0.08 EPS. As a group, analysts predict that Global Blue Group Holding AG will post 0.3 earnings per share for the current fiscal year.

Institutional Trading of Global Blue Group

Hedge funds have recently added to or reduced their stakes in the company. WCM Investment Management LLC increased its holdings in Global Blue Group by 3.0% in the fourth quarter. WCM Investment Management LLC now owns 1,990,631 shares of the company’s stock valued at $13,437,000 after buying an additional 57,889 shares in the last quarter. Scalar Gauge Management LLC increased its stake in shares of Global Blue Group by 17.5% in the 4th quarter. Scalar Gauge Management LLC now owns 339,651 shares of the company’s stock valued at $2,354,000 after purchasing an additional 50,668 shares in the last quarter. Bank of America Corp DE acquired a new position in Global Blue Group in the 4th quarter worth about $1,200,000. Atom Investors LP boosted its position in 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 in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Global Blue Group by 74.8% in the fourth quarter. Renaissance Technologies LLC now owns 45,800 shares of the company’s stock valued at $317,000 after purchasing an additional 19,600 shares during the period. 89.66% of the stock is owned by hedge funds and other 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).