Global Business Travel Group (NYSE:GBTG) Coverage Initiated at UBS Group

Investment analysts at UBS Group assumed coverage on shares of Global Business Travel Group (NYSE:GBTG) in a report released on Friday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $11.00 price target on the stock. UBS Group’s target price indicates a potential upside of 21.15% from the company’s current price.

A number of other analysts have also recently weighed in on the company. Evercore ISI raised their price target on 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. Citigroup raised their price target on Global Business Travel Group from $9.00 to $9.50 and gave the company a “buy” rating in a research note on Friday, October 4th.

Global Business Travel Group Stock Up 1.1 %

Shares of NYSE GBTG opened at $9.08 on Friday. The stock has a market cap of $4.27 billion, a P/E ratio of -25.22 and a beta of 0.63. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.24. Global Business Travel Group has a 12-month low of $4.49 and a 12-month high of $9.20. The business’s fifty day simple moving average is $7.87 and its 200-day simple moving average is $7.01.

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

Global Business Travel Group announced that its board has approved a share buyback program on Tuesday, November 5th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 8.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Global Business Travel Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Amalgamated Bank increased its position in shares of Global Business Travel Group by 299.1% during the second quarter. Amalgamated Bank now owns 4,342 shares of the company’s stock worth $29,000 after purchasing an additional 3,254 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Global Business Travel Group by 1.1% during the first 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 in the last quarter. Verition Fund Management LLC acquired a new stake in shares of Global Business Travel Group during the third quarter worth about $98,000. Principal Financial Group Inc. purchased a new position in shares of Global Business Travel Group during the second quarter worth about $108,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Global Business Travel Group by 31.7% during the third quarter. The Manufacturers Life Insurance Company now owns 71,901 shares of the company’s stock worth $553,000 after buying an additional 17,313 shares during the last quarter. Institutional investors and hedge funds 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.