Global Blue Group (NYSE:GB) Sees Unusually-High Trading Volume - Here's Why

Global Blue Group Holding AG (NYSE:GB - Get Free Report) saw unusually-high trading volume on Friday . Approximately 130,912 shares traded hands during trading, an increase of 276% from the previous session's volume of 34,833 shares.The stock last traded at $5.93 and had previously closed at $6.25.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer began coverage on shares of Global Blue Group in a research note on Thursday, October 24th. They issued an "outperform" rating and a $6.00 target price for the company.

Global Blue Group Stock Down 4.6 %

The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 42.57 and a beta of 0.42. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.92. The firm has a 50 day moving average price of $5.46 and a two-hundred day moving average price of $5.12.

Global Blue Group (NYSE:GB - Get Free Report) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.03). Global Blue Group had a net margin of 7.32% and a return on equity of 48.62%. The business had revenue of $126.75 million for the quarter, compared to analyst estimates of $127.42 million. As a group, sell-side analysts expect that Global Blue Group Holding AG will post 0.38 earnings per share for the current year.

Institutional Trading of Global Blue Group

Several institutional investors have recently added to or reduced their stakes in GB. Atom Investors LP increased its position in shares of Global Blue Group by 20.2% in the 3rd quarter. Atom Investors LP now owns 75,001 shares of the company's stock worth $410,000 after purchasing an additional 12,625 shares during the last quarter. Scalar Gauge Management LLC boosted its holdings in Global Blue Group by 21.0% in the third quarter. Scalar Gauge Management LLC now owns 288,983 shares of the company's stock worth $1,581,000 after purchasing an additional 50,100 shares during the period. Independent Advisor Alliance bought a new stake in Global Blue Group during the third quarter valued at $229,000. Sei Investments Co. lifted its position in shares of Global Blue Group by 8.6% in the 2nd quarter. Sei Investments Co. now owns 109,435 shares of the company's stock worth $527,000 after buying an additional 8,646 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Global Blue Group by 1,640.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 5,061,307 shares of the company's stock valued at $24,395,000 after buying an additional 4,770,550 shares during the period. 89.66% of the stock is owned by institutional investors and hedge funds.

About Global Blue Group

Global Blue Group Holding AG, together with its subsidiaries, provides technology-enabled transaction processing services for merchants, banks, acquirers, governments, and travelers in Europe, the Asia Pacific, and internationally. The company operates in three segments: Tax Free Shopping Technology Solutions (TFSS), Added-Value Payment Solutions (AVPS), and Retail Tech Solutions (RTS).