Short Interest in Global Business Travel Group, Inc. (NYSE:GBTG) Increases By 9.2%

Global Business Travel Group, Inc. (NYSE:GBTG - Get Free Report) was the recipient of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 6,910,000 shares, an increase 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 days-to-cover ratio is currently 6.6 days. Approximately 3.9% of the shares of the company are short sold.

Global Business Travel Group Trading Up 1.6 %

Shares of GBTG stock traded up $0.14 during mid-day trading on Tuesday, reaching $9.13. 1,709,348 shares of the stock traded hands, compared to its average volume of 649,073. The stock's fifty day simple moving average is $8.52 and its two-hundred day simple moving average is $7.45. Global Business Travel Group has a 1-year low of $4.49 and a 1-year high of $9.60. The company has a market cap of $4.29 billion, a price-to-earnings ratio of -25.35 and a beta of 0.73. 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 - Get Free Report) last issued 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 for the quarter, compared to the consensus estimate 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 quarter last year, the business posted ($0.02) earnings per share. On average, research analysts anticipate that Global Business Travel Group will post -0.17 EPS for the current fiscal year.

Global Business Travel Group announced that its board has authorized a share buyback program on Tuesday, November 5th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to purchase up to 8.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages recently weighed in on GBTG. Morgan Stanley boosted their target price on shares of Global Business Travel Group from $7.00 to $9.00 and gave the company an "equal weight" rating in a research note on Thursday, December 12th. UBS Group initiated coverage on Global Business Travel Group in a research note on Friday, November 22nd. They set a "buy" rating and a $11.00 price target for the company. Finally, Citigroup upped their price objective on shares of Global Business Travel Group from $9.00 to $9.50 and gave the company a "buy" rating in a research note on Friday, October 4th.

Institutional Trading of Global Business Travel Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Amalgamated Bank increased its position in Global Business Travel Group by 299.1% in the second quarter. Amalgamated Bank now owns 4,342 shares of the company's stock worth $29,000 after purchasing an additional 3,254 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of Global Business Travel Group during the third quarter valued at $98,000. Principal Financial Group Inc. acquired a new stake in Global Business Travel Group during the 2nd quarter valued at approximately $108,000. Quadrature Capital Ltd acquired a new stake in Global Business Travel Group during the 3rd quarter worth about $137,000. Finally, Entropy Technologies LP acquired a new position in Global Business Travel Group in the third quarter valued at approximately $145,000. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

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.