UBS Group Initiates Coverage on Global Business Travel Group (NYSE:GBTG)

UBS Group started coverage on shares of Global Business Travel Group (NYSE:GBTG) in a research note released on Friday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $11.00 target price on the stock.

Several other research analysts also recently issued reports on GBTG. Citigroup upped their target price on shares of Global Business Travel Group from $9.00 to $9.50 and gave the stock a “buy” rating in a research note on Friday, October 4th. Evercore ISI raised their price target 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 Trading Up 4.0 %

NYSE GBTG opened at $9.44 on Friday. The company has a market cap of $4.44 billion, a price-to-earnings ratio of -26.22 and a beta of 0.63. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.24. Global Business Travel Group has a twelve month low of $4.49 and a twelve month high of $9.46. The business’s fifty day moving average is $7.91 and its 200 day moving average is $7.03.

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 the consensus estimate 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 company had revenue of $597.00 million for the quarter, compared to the consensus estimate of $611.89 million. During the same quarter in the previous year, the company posted ($0.02) EPS. As a group, sell-side analysts expect 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 plan on Tuesday, November 5th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to purchase up to 8.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Institutional Trading of Global Business Travel Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Tidal Investments LLC acquired a new position in Global Business Travel Group during the 1st quarter worth $3,383,000. Rhumbline Advisers raised its holdings in shares of Global Business Travel Group by 419.3% in the second quarter. Rhumbline Advisers now owns 143,883 shares of the company’s stock worth $950,000 after acquiring an additional 116,175 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Global Business Travel Group by 1,116.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,007,861 shares of the company’s stock worth $6,652,000 after acquiring an additional 925,018 shares during the period. Renaissance Technologies LLC raised its stake in shares of Global Business Travel Group by 431.2% in the 2nd quarter. Renaissance Technologies LLC now owns 105,700 shares of the company’s stock valued at $698,000 after acquiring an additional 85,800 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Global Business Travel Group during the 2nd quarter valued at $489,000. Hedge funds and other 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.