Short Interest in Global Business Travel Group, Inc. (NYSE:GBTG) Drops By 6.4%

Global Business Travel Group, Inc. (NYSE:GBTG) saw a large decline in short interest in October. As of October 31st, there was short interest totalling 7,190,000 shares, a decline of 6.4% from the October 15th total of 7,680,000 shares. Approximately 4.1% of the company’s shares are sold short. Based on an average trading volume of 1,010,000 shares, the days-to-cover ratio is presently 7.1 days.

Global Business Travel Group Price Performance

GBTG stock opened at $8.88 on Tuesday. The business’s 50-day moving average is $7.75 and its two-hundred day moving average is $6.96. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a market capitalization of $4.20 billion, a P/E ratio of -24.65 and a beta of 0.63. Global Business Travel Group has a 1 year low of $4.49 and a 1 year high of $9.05.

Global Business Travel Group (NYSE:GBTG) last issued its earnings results on Tuesday, November 5th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.14). Global Business Travel Group had a negative net margin of 7.06% and a negative return on equity of 9.70%. The firm had revenue of $597.00 million during the quarter, compared to analyst estimates of $611.89 million. During the same period last year, the business earned ($0.02) EPS. Analysts anticipate that Global Business Travel Group will post -0.17 earnings per share for the current fiscal year.

Global Business Travel Group declared that its board has approved a stock repurchase plan on Tuesday, November 5th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 8.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Global Business Travel Group

Several large investors have recently bought and sold shares of GBTG. Amalgamated Bank increased its holdings in shares of Global Business Travel Group by 299.1% in the 2nd quarter. Amalgamated Bank now owns 4,342 shares of the company’s stock valued at $29,000 after acquiring an additional 3,254 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of Global Business Travel Group during the 3rd quarter worth approximately $98,000. Principal Financial Group Inc. acquired a new position in shares of Global Business Travel Group in the 2nd quarter valued at $108,000. Quadrature Capital Ltd purchased a new position in shares of Global Business Travel Group in the 3rd quarter valued at $137,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Global Business Travel Group in the second quarter valued at $143,000. Hedge funds and other institutional investors own 82.46% of the company’s stock.

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.