Global Business Travel Group, Inc. (NYSE:GBTG) Short Interest Update

Global Business Travel Group, Inc. (NYSE:GBTG) was the recipient of a significant decline in short interest during the month of 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 shares of the stock are sold short. Based on an average daily volume of 1,010,000 shares, the days-to-cover ratio is presently 7.1 days.

Global Business Travel Group Stock Performance

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

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

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GBTG. Bank of New York Mellon Corp lifted its stake 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 valued at $6,652,000 after purchasing an additional 925,018 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of Global Business Travel Group in the 1st quarter worth approximately $3,383,000. Geode Capital Management LLC boosted its position in shares of Global Business Travel Group by 19.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,339,395 shares of the company’s stock worth $17,993,000 after purchasing an additional 386,636 shares during the period. State Street Corp boosted its position in shares of Global Business Travel Group by 21.7% during the 3rd quarter. State Street Corp now owns 1,946,990 shares of the company’s stock worth $14,972,000 after purchasing an additional 346,540 shares during the period. Finally, Advantage Alpha Capital Partners LP purchased a new stake in Global Business Travel Group in the third quarter valued at approximately $2,077,000. 82.46% of the stock is currently owned by institutional investors and hedge funds.

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.