Sabre (NASDAQ:SABR) Shares Down 4.3% – Here’s Why

Shares of Sabre Corporation (NASDAQ:SABR) fell 4.3% during mid-day trading on Wednesday . The stock traded as low as $1.89 and last traded at $1.8950. 1,089,012 shares changed hands during trading, a decline of 87% from the average session volume of 8,318,272 shares. The stock had previously closed at $1.98.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SABR. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $2.00 price objective on shares of Sabre in a report on Thursday, February 19th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $1.50 price objective on shares of Sabre in a report on Tuesday, March 3rd. Finally, Weiss Ratings raised Sabre from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 8th. Four equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $1.97.

Sabre Stock Down 0.8%

The stock has a fifty day moving average of $1.73 and a 200-day moving average of $1.50. The stock has a market cap of $776.79 million, a PE ratio of 1.81 and a beta of 0.99.

Sabre (NASDAQ:SABR) last released its quarterly earnings results on Thursday, May 7th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.11. The company had revenue of $760.33 million for the quarter, compared to analysts’ expectations of $739.02 million. Equities research analysts forecast that Sabre Corporation will post -0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sabre

A number of hedge funds and other institutional investors have recently made changes to their positions in SABR. Royal Bank of Canada grew its holdings in shares of Sabre by 46.9% during the first quarter. Royal Bank of Canada now owns 174,893 shares of the information technology services provider’s stock worth $491,000 after buying an additional 55,840 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Sabre by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 227,323 shares of the information technology services provider’s stock valued at $639,000 after purchasing an additional 9,923 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Sabre in the 1st quarter valued at approximately $140,000. Jones Financial Companies Lllp boosted its holdings in Sabre by 265.7% in the 1st quarter. Jones Financial Companies Lllp now owns 286,802 shares of the information technology services provider’s stock valued at $806,000 after purchasing an additional 208,371 shares in the last quarter. Finally, United Services Automobile Association purchased a new stake in Sabre in the 1st quarter valued at approximately $80,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

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.