Global Business Travel Group (NYSE:GBTG) Reaches New 12-Month High – Time to Buy?

Shares of Global Business Travel Group, Inc. (NYSE:GBTG) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $8.88 and last traded at $8.85, with a volume of 51111 shares. The stock had previously closed at $8.74.

Analysts Set New Price Targets

GBTG has been the subject of a number of research reports. Citigroup raised their price target on shares of Global Business Travel Group from $9.00 to $9.50 and gave the company a “buy” rating in a report on Friday, October 4th. Evercore ISI boosted their target price on Global Business Travel Group from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th.

Global Business Travel Group Stock Performance

The stock’s 50 day moving average is $7.57 and its two-hundred day moving average is $6.86. The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of -24.29 and a beta of 0.63. The company has a current ratio of 1.56, a quick ratio of 1.65 and a debt-to-equity ratio of 1.24.

Global Business Travel Group (NYSE:GBTG) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.14). Global Business Travel Group had a negative return on equity of 9.70% and a negative net margin of 7.06%. The business had revenue of $597.00 million for the quarter, compared to analyst estimates of $611.89 million. During the same quarter in the prior year, the company earned ($0.02) earnings per share. Analysts expect that Global Business Travel Group, Inc. will post -0.21 earnings per share for the current fiscal year.

Global Business Travel Group declared that its Board of Directors has approved a stock repurchase plan on Tuesday, November 5th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to repurchase up to 8.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Global Business Travel Group

Large investors have recently modified their holdings of the business. Amalgamated Bank lifted its position 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 worth $29,000 after purchasing an additional 3,254 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of Global Business Travel Group during the 2nd quarter valued at $108,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Global Business Travel Group during the 2nd quarter worth $143,000. Entropy Technologies LP purchased a new position in shares of Global Business Travel Group in the 3rd quarter worth about $145,000. Finally, Victory Capital Management Inc. bought a new position in Global Business Travel Group during the second quarter valued at about $147,000. 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.