Global Business Travel Group (NYSE:GBTG) Shares Gap Down – Here’s What Happened

Global Business Travel Group, Inc. (NYSE:GBTG)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $7.68, but opened at $7.00. Global Business Travel Group shares last traded at $7.50, with a volume of 50,442 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Citigroup upped their target price on shares of Global Business Travel Group from $9.00 to $9.50 and gave the stock a “buy” rating in a research report on Friday, October 4th. Evercore ISI lifted their price objective on shares of Global Business Travel Group from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th.

Global Business Travel Group Trading Down 1.4 %

The stock’s 50 day moving average is $7.46 and its 200 day moving average is $6.78. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.11.

Global Business Travel Group (NYSE:GBTG) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.11. Global Business Travel Group had a negative return on equity of 1.26% and a negative net margin of 1.66%. The company had revenue of $625.00 million for the quarter, compared to analysts’ expectations of $643.97 million. Sell-side analysts predict that Global Business Travel Group, Inc. will post -0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Tidal Investments LLC acquired a new stake in Global Business Travel Group in the 1st quarter valued at about $3,383,000. Rhumbline Advisers lifted its stake in Global Business Travel Group by 419.3% during the second quarter. Rhumbline Advisers now owns 143,883 shares of the company’s stock valued at $950,000 after purchasing an additional 116,175 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Global Business Travel Group by 1,116.6% during the second quarter. Bank of New York Mellon Corp now owns 1,007,861 shares of the company’s stock worth $6,652,000 after buying an additional 925,018 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Global Business Travel Group by 431.2% during the second quarter. Renaissance Technologies LLC now owns 105,700 shares of the company’s stock worth $698,000 after buying an additional 85,800 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Global Business Travel Group in the second quarter worth approximately $489,000. 82.46% of the stock is 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.