Global Blue Group (NYSE:GB) Shares Gap Down – Here’s What Happened

Global Blue Group Holding AG (NYSE:GB)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $7.39, but opened at $7.21. Global Blue Group shares last traded at $7.40, with a volume of 34,559 shares.

Analyst Upgrades and Downgrades

Separately, Oppenheimer started coverage on Global Blue Group in a research note on Thursday, October 24th. They set an “outperform” rating and a $6.00 target price on the stock.

Global Blue Group Price Performance

The company has a market capitalization of $1.48 billion, a PE ratio of 35.31 and a beta of 0.40. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 5.30. The stock has a fifty day simple moving average of $6.48 and a 200-day simple moving average of $5.64.

Institutional Investors Weigh In On Global Blue Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sei Investments Co. increased its stake in shares of Global Blue Group by 8.6% during the second quarter. Sei Investments Co. now owns 109,435 shares of the company’s stock worth $527,000 after acquiring an additional 8,646 shares during the period. Independent Advisor Alliance purchased a new stake in shares of Global Blue Group during the 3rd quarter worth $229,000. Scalar Gauge Management LLC increased its holdings in Global Blue Group by 21.0% in the third quarter. Scalar Gauge Management LLC now owns 288,983 shares of the company’s stock valued at $1,581,000 after buying an additional 50,100 shares in the last quarter. Finally, 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. 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).