Global Blue Group (NYSE:GB) Sets New 1-Year High – Here’s What Happened

Global Blue Group Holding AG (NYSE:GB)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $6.97 and last traded at $6.93, with a volume of 36715 shares trading hands. The stock had previously closed at $6.75.

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 target price on the stock.

Global Blue Group Price Performance

The company’s 50 day simple moving average is $5.84 and its 200-day simple moving average is $5.34. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 5.30. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 33.00 and a beta of 0.44.

Institutional Investors Weigh In On Global Blue Group

Several large investors have recently made changes to their positions in GB. Independent Advisor Alliance purchased a new stake in shares of Global Blue Group during the third quarter worth about $229,000. Atom Investors LP increased its holdings in Global Blue Group by 20.2% during 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. Sei Investments Co. raised 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 valued at $527,000 after purchasing an additional 8,646 shares in the last quarter. Finally, Scalar Gauge Management LLC boosted its stake in shares of Global Blue Group by 21.0% during the 3rd quarter. Scalar Gauge Management LLC now owns 288,983 shares of the company’s stock valued at $1,581,000 after buying an additional 50,100 shares during the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

Global Blue Group Company Profile

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).