Global Blue Group (NYSE:GB) Stock Price Down 6.5% – Here’s Why

Global Blue Group Holding AG (NYSE:GB) traded down 6.5% on Monday . The company traded as low as $5.72 and last traded at $5.75. 33,609 shares changed hands during trading, a decline of 6% from the average session volume of 35,585 shares. The stock had previously closed at $6.15.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer started coverage on Global Blue Group in a report on Thursday, October 24th. They set an “outperform” rating and a $6.00 target price on the stock.

Global Blue Group Trading Down 6.5 %

The company has a fifty day moving average of $5.49 and a two-hundred day moving average of $5.16. The company has a current ratio of 1.00, a quick ratio of 0.98 and a debt-to-equity ratio of 5.30. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 29.29 and a beta of 0.42.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Independent Advisor Alliance bought a new stake in shares of Global Blue Group during the third quarter valued at approximately $229,000. Atom Investors LP grew its position in Global Blue Group by 20.2% in the third quarter. Atom Investors LP now owns 75,001 shares of the company’s stock valued at $410,000 after acquiring an additional 12,625 shares during the period. Sei Investments Co. grew its position in Global Blue Group by 8.6% in the second quarter. Sei Investments Co. now owns 109,435 shares of the company’s stock valued at $527,000 after acquiring an additional 8,646 shares during the period. Scalar Gauge Management LLC grew its position 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. Finally, Allspring Global Investments Holdings LLC grew its position in Global Blue Group by 1,640.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 5,061,307 shares of the company’s stock valued at $24,395,000 after acquiring an additional 4,770,550 shares during the period. 89.66% of the stock is currently 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).