Global Business Travel Group, Inc. (NYSE:GBTG – Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $7.61 and last traded at $7.61, with a volume of 877469 shares trading hands. The stock had previously closed at $7.48.
Wall Street Analyst Weigh In
A number of research analysts have commented on the stock. Citigroup increased their price objective on shares of Global Business Travel Group from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Evercore ISI increased 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.
Get Our Latest Analysis on GBTG
Global Business Travel Group Stock Performance
Global Business Travel Group (NYSE:GBTG – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.11. Global Business Travel Group had a negative net margin of 1.66% and a negative return on equity of 1.26%. The company had revenue of $625.00 million for the quarter, compared to the consensus estimate of $643.97 million. As a group, equities analysts expect that Global Business Travel Group, Inc. will post -0.08 EPS for the current year.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the business. Bank of New York Mellon Corp increased its holdings in shares of Global Business Travel Group by 1,116.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,007,861 shares of the company’s stock worth $6,652,000 after acquiring an additional 925,018 shares during the period. Vanguard Group Inc. increased its holdings in shares of Global Business Travel Group by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 971,900 shares of the company’s stock worth $5,841,000 after acquiring an additional 10,446 shares during the period. Par Capital Management Inc. increased its holdings in shares of Global Business Travel Group by 42.1% in the 4th quarter. Par Capital Management Inc. now owns 770,000 shares of the company’s stock worth $4,966,000 after acquiring an additional 228,149 shares during the period. Tidal Investments LLC acquired a new stake in shares of Global Business Travel Group in the 1st quarter worth about $3,383,000. Finally, Rhumbline Advisers increased its holdings in shares of Global Business Travel Group by 419.3% in the 2nd quarter. Rhumbline Advisers now owns 143,883 shares of the company’s stock worth $950,000 after acquiring an additional 116,175 shares during the period. 82.46% of the stock is currently owned by institutional investors.
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.
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