Global Blue Group (NYSE:GB) Trading Down 6.4% - Here's Why

Global Blue Group Holding AG (NYSE:GB - Get Free Report)'s stock price fell 6.4% on Friday . The stock traded as low as $7.25 and last traded at $7.16. 123,300 shares traded hands during mid-day trading, a decline of 4% from the average session volume of 128,957 shares. The stock had previously closed at $7.65.

Analyst Upgrades and Downgrades

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

Global Blue Group Stock Performance

The firm's fifty day simple moving average is $6.41 and its 200 day simple moving average is $5.60. The company has a market capitalization of $1.50 billion, a PE ratio of 34.83 and a beta of 0.40. The company has a debt-to-equity ratio of 5.30, a current ratio of 1.00 and a quick ratio of 1.00.

Institutional Trading of Global Blue Group

Hedge funds have recently modified their holdings of the stock. Scalar Gauge Management LLC lifted 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 valued at $1,581,000 after acquiring an additional 50,100 shares during the period. Sei Investments Co. increased its holdings in shares of Global Blue Group by 8.6% during the 2nd quarter. Sei Investments Co. now owns 109,435 shares of the company's stock valued at $527,000 after purchasing an additional 8,646 shares in the last quarter. Atom Investors LP lifted its stake 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 valued at $410,000 after purchasing an additional 12,625 shares during the period. Finally, Independent Advisor Alliance purchased a new stake in Global Blue Group during the third quarter worth $229,000. Hedge funds and other institutional investors own 89.66% of the company's stock.

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).

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