Global Business Travel Group, Inc. (NYSE:GBTG) Sees Significant Growth in Short Interest

Global Business Travel Group, Inc. (NYSE:GBTG) was the target of a significant growth in short interest in November. As of November 30th, there was short interest totalling 6,910,000 shares, a growth of 9.2% from the November 15th total of 6,330,000 shares. Based on an average daily volume of 1,040,000 shares, the short-interest ratio is currently 6.6 days. Approximately 3.9% of the shares of the stock are sold short.

Global Business Travel Group Stock Performance

Shares of Global Business Travel Group stock traded up $0.07 during trading hours on Tuesday, reaching $9.05. 47,356 shares of the stock traded hands, compared to its average volume of 642,153. The company has a 50 day moving average price of $8.49 and a 200 day moving average price of $7.43. The firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of -24.94 and a beta of 0.73. Global Business Travel Group has a one year low of $4.49 and a one year high of $9.60. 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 (NYSE:GBTG) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.22) EPS 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 analysts’ expectations 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 prior year, the firm posted ($0.02) earnings per share. On average, equities research analysts expect that Global Business Travel Group will post -0.17 earnings per share for the current fiscal year.

Global Business Travel Group announced that its Board of Directors has initiated a share buyback 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 shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. UBS Group initiated coverage on shares of Global Business Travel Group in a research report on Friday, November 22nd. They set a “buy” rating and a $11.00 price target for the company. Morgan Stanley increased their target price on Global Business Travel Group from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Finally, Citigroup upped their price target on 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.

Hedge Funds Weigh In On Global Business Travel Group

Several institutional investors have recently made changes to their positions in the company. Barclays PLC raised its holdings in Global Business Travel Group by 362.3% in the third quarter. Barclays PLC now owns 198,673 shares of the company’s stock worth $1,528,000 after purchasing an additional 155,696 shares in the last quarter. Geode Capital Management LLC increased its position in 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 valued at $17,993,000 after buying an additional 386,636 shares in the last quarter. Jane Street Group LLC raised its stake in Global Business Travel Group by 54.0% in the third quarter. Jane Street Group LLC now owns 74,886 shares of the company’s stock valued at $576,000 after buying an additional 26,269 shares during the last quarter. State Street Corp boosted its holdings in Global Business Travel Group by 21.7% in the third quarter. State Street Corp now owns 1,946,990 shares of the company’s stock worth $14,972,000 after acquiring an additional 346,540 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of Global Business Travel Group in the 3rd quarter valued at approximately $137,000. Hedge funds and other institutional investors own 82.46% of the company’s stock.

Global Business Travel Group Company Profile

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.