Sabre (NASDAQ:SABR) Shares Cross Above 50 Day Moving Average – Here’s Why

Sabre Corporation (NASDAQ:SABR) crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $2.09 and traded as high as $2.16. Sabre shares last traded at $2.10, with a volume of 4,854,536 shares.

Wall Street Analysts Forecast Growth

SABR has been the topic of a number of recent research reports. Citigroup restated a “buy” rating on shares of Sabre in a research note on Thursday, August 27th. Weiss Ratings cut shares of Sabre from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $1.75.

Sabre Trading Down 0.5%

The company’s 50 day moving average is $2.10 and its 200 day moving average is $1.86. The stock has a market capitalization of $855.60 million, a price-to-earnings ratio of 1.28 and a beta of 1.00.

Sabre (NASDAQ:SABR) last released its quarterly earnings data on Thursday, August 6th. The information technology services provider reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.13). The business had revenue of $711.96 million for the quarter, compared to the consensus estimate of $697.40 million. Analysts anticipate that Sabre Corporation will post -0.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Sabre

Hedge funds have recently modified their holdings of the business. Vise Technologies Inc. acquired a new stake in Sabre during the 2nd quarter worth $30,000. Engineers Gate Manager LP purchased a new stake in shares of Sabre in the second quarter valued at about $31,000. Allworth Financial LP acquired a new stake in shares of Sabre during the second quarter worth about $31,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Sabre during the second quarter worth about $32,000. Finally, Cetera Investment Advisers grew its holdings in shares of Sabre by 55.8% during the first quarter. Cetera Investment Advisers now owns 46,858 shares of the information technology services provider’s stock worth $68,000 after buying an additional 16,776 shares during the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

About Sabre

Sabre Corporation is a travel technology company that provides software, distribution, and data solutions for the global travel industry. Its platform connects airlines, hotels, travel agencies, corporate travel departments, and other travel suppliers, helping them market, sell, and manage travel services.

The company’s products and services include the Sabre Travel Marketplace, a global distribution system that enables travel buyers to search and book air, hotel, car rental, rail, and other travel content.