Sabre (NASDAQ:SABR) Shares Down 7.4% – Here’s Why

Sabre Corporation (NASDAQ:SABR) was down 7.4% during mid-day trading on Wednesday . The company traded as low as $1.69 and last traded at $1.6950. Approximately 1,795,441 shares traded hands during trading, a decline of 79% from the average daily volume of 8,599,932 shares. The stock had previously closed at $1.83.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Sanford C. Bernstein reiterated a “market perform” rating and set a $1.50 target price on shares of Sabre in a research report on Tuesday, March 3rd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $2.00 target price on shares of Sabre in a research note on Thursday, February 19th. Weiss Ratings upgraded Sabre from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday. Finally, Zacks Research upgraded Sabre from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 11th. Four research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $1.97.

Sabre Price Performance

The firm has a market capitalization of $679.93 million, a P/E ratio of 1.58 and a beta of 1.01. The company’s 50 day moving average price is $1.66 and its 200 day moving average price is $1.53.

Sabre (NASDAQ:SABR) last posted its quarterly earnings data on Thursday, May 7th. The information technology services provider reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.11. The company had revenue of $760.33 million during the quarter, compared to the consensus estimate of $739.02 million. On average, research analysts anticipate that Sabre Corporation will post -0.15 EPS for the current fiscal year.

Institutional Trading of Sabre

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DGS Capital Management LLC acquired a new position in Sabre during the 1st quarter valued at about $25,000. Oak Thistle LLC acquired a new position in Sabre in the fourth quarter valued at about $27,000. GSA Capital Partners LLP acquired a new stake in shares of Sabre in the 3rd quarter valued at approximately $32,000. Diligent Investors LLC acquired a new stake in Sabre in the third quarter worth $35,000. Finally, Caprock Group LLC bought a new stake in shares of Sabre in the third quarter worth about $43,000. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Sabre Company Profile

Sabre Corporation is a leading travel technology company that provides software, data, mobile and distribution solutions to the global travel industry. Through its Sabre travel marketplace, the company operates one of the world’s principal global distribution systems (GDS), connecting travel buyers and suppliers across airlines, hotels, car rental companies and other travel providers. Sabre’s suite of products includes reservation and ticketing systems for travel agencies, comprehensive airline operations and passenger services solutions, as well as hospitality property management and central reservation systems for hotels.

Established in 1960 as a joint venture between American Airlines and IBM, Sabre introduced one of the first computerized airline reservation systems, pioneering the automation of ticketing and inventory control.