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

UBS Group started coverage on shares of Global Business Travel Group (NYSE:GBTG) in a research report issued on Friday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $11.00 price target on the stock. UBS Group’s price target suggests a potential upside of 21.15% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Evercore ISI increased their target price on 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 price target on 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.

Global Business Travel Group Stock Performance

NYSE GBTG opened at $9.08 on Friday. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of -25.22 and a beta of 0.63. Global Business Travel Group has a twelve month low of $4.49 and a twelve month high of $9.20. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.24. The stock has a 50-day moving average of $7.87 and a 200 day moving average of $7.01.

Global Business Travel Group (NYSE:GBTG) last released 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). The business had revenue of $597.00 million during the quarter, compared to analyst estimates of $611.89 million. Global Business Travel Group had a negative return on equity of 9.70% and a negative net margin of 7.06%. During the same period in the previous year, the company posted ($0.02) EPS. Sell-side analysts anticipate that Global Business Travel Group will post -0.17 EPS for the current fiscal year.

Global Business Travel Group declared that its Board of Directors has authorized a stock repurchase program on Tuesday, November 5th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to repurchase up to 8.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of GBTG. Bank of New York Mellon Corp boosted its position in shares of Global Business Travel Group by 1,116.6% during the second quarter. Bank of New York Mellon Corp now owns 1,007,861 shares of the company’s stock worth $6,652,000 after buying an additional 925,018 shares during the period. Tidal Investments LLC purchased a new position in shares of Global Business Travel Group during the first quarter worth $3,383,000. Geode Capital Management LLC boosted its position in shares of Global Business Travel Group by 19.8% during the third quarter. Geode Capital Management LLC now owns 2,339,395 shares of the company’s stock worth $17,993,000 after buying 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 third quarter. State Street Corp now owns 1,946,990 shares of the company’s stock worth $14,972,000 after buying an additional 346,540 shares during the period. Finally, Advantage Alpha Capital Partners LP purchased a new position in shares of Global Business Travel Group during the third quarter worth $2,077,000. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

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.