Global Business Travel Group, Inc. (NYSE:GBTG – Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $7.28 and last traded at $7.26, with a volume of 85841 shares. The stock had previously closed at $6.99.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on GBTG shares. Citigroup raised their price target on Global Business Travel Group from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Evercore ISI raised their price target on Global Business Travel Group from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th.
View Our Latest Stock Report on Global Business Travel Group
Global Business Travel Group Price Performance
Global Business Travel Group (NYSE:GBTG – Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $643.97 million. On average, equities analysts predict that Global Business Travel Group, Inc. will post -0.08 EPS for the current fiscal year.
Institutional Investors Weigh In On Global Business Travel Group
Several institutional investors have recently modified their holdings of GBTG. Amalgamated Bank raised its position in shares of Global Business Travel Group by 299.1% during the 2nd quarter. Amalgamated Bank now owns 4,342 shares of the company’s stock worth $29,000 after purchasing an additional 3,254 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Global Business Travel Group by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 971,900 shares of the company’s stock worth $5,841,000 after purchasing an additional 10,446 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of Global Business Travel Group during the 2nd quarter worth approximately $108,000. ANTIPODES PARTNERS Ltd acquired a new position in shares of Global Business Travel Group during the 1st quarter worth approximately $109,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Global Business Travel Group during the 2nd quarter worth approximately $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.
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