Global Business Travel Group, Inc. (NYSE:GBTG) Short Interest Down 56.1% in May

by · The Markets Daily

Global Business Travel Group, Inc. (NYSE:GBTG – Get Free Report) saw a large drop in short interest in May. As of May 15th, there was short interest totaling 4,171,328 shares, a drop of 56.1% from the April 30th total of 9,501,323 shares. Approximately 0.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 11,488,024 shares, the short-interest ratio is presently 0.4 days.

Institutional Investors Weigh In On Global Business Travel Group

Several hedge funds have recently made changes to their positions in GBTG. Amundi raised its stake in Global Business Travel Group by 145.3% during the first quarter. Amundi now owns 30,218 shares of the company’s stock valued at $169,000 after buying an additional 17,899 shares during the last quarter. California State Teachers Retirement System raised its stake in Global Business Travel Group by 43.0% during the first quarter. California State Teachers Retirement System now owns 127,138 shares of the company’s stock valued at $709,000 after buying an additional 38,242 shares during the last quarter. Quantinno Capital Management LP raised its stake in Global Business Travel Group by 720.9% during the first quarter. Quantinno Capital Management LP now owns 208,118 shares of the company’s stock valued at $1,161,000 after buying an additional 182,765 shares during the last quarter. Monarch Alternative Capital LP raised its stake in Global Business Travel Group by 9.3% during the first quarter. Monarch Alternative Capital LP now owns 7,800,000 shares of the company’s stock valued at $43,524,000 after buying an additional 661,418 shares during the last quarter. Finally, Lazard Asset Management LLC raised its stake in Global Business Travel Group by 439.0% during the first quarter. Lazard Asset Management LLC now owns 545,145 shares of the company’s stock valued at $3,042,000 after buying an additional 444,003 shares during the last quarter. 82.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on GBTG shares. Citigroup reduced their price target on Global Business Travel Group from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, March 12th. Weiss Ratings upgraded Global Business Travel Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Wall Street Zen lowered Global Business Travel Group from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Morgan Stanley reduced their price target on Global Business Travel Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Monday, March 9th. Finally, BTIG Research lowered Global Business Travel Group from a “buy” rating to a “neutral” rating in a research report on Monday, May 4th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $8.90.

View Our Latest Analysis on GBTG

Global Business Travel Group Trading Up 0.1%

Shares of GBTG stock traded up $0.01 during trading hours on Monday, reaching $9.35. The company’s stock had a trading volume of 13,162,434 shares, compared to its average volume of 7,435,179. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.90. Global Business Travel Group has a one year low of $4.95 and a one year high of $9.54. The stock has a market capitalization of $4.87 billion, a P/E ratio of 133.43 and a beta of 0.93. The firm’s fifty day simple moving average is $7.10 and its 200 day simple moving average is $6.96.

Global Business Travel Group (NYSE:GBTG – Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.05. Global Business Travel Group had a return on equity of 2.51% and a net margin of 2.93%.The company had revenue of $840.00 million for the quarter, compared to analyst estimates of $814.55 million. The firm’s quarterly revenue was up 35.3% compared to the same quarter last year. Equities research analysts expect that Global Business Travel Group will post 0.18 EPS for the current year.

About Global Business Travel Group

(Get Free Report)

Global Business Travel Group (NYSE: GBTG), formerly known as American Express Global Business Travel, is a provider of end-to-end corporate travel management solutions. The company helps organizations plan, book and manage business travel, meetings and events through an integrated suite of services. Its offerings include traveller support, expense management, virtual and in-person meeting services, data analytics and duty-of-care solutions tailored to enterprise customers.

Operating under a global network of offices and digital platforms, Global Business Travel Group serves clients across the Americas, EMEA and Asia Pacific.

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