Sabre (NASDAQ:SABR) Stock Price Down 6.9% – Here’s What Happened

Shares of Sabre Corporation (NASDAQ:SABR) fell 6.9% during trading on Tuesday . The stock traded as low as $2.02 and last traded at $2.02. 1,454,297 shares traded hands during trading, a decline of 79% from the average session volume of 6,954,212 shares. The stock had previously closed at $2.17.

Analysts Set New Price Targets

Several brokerages have weighed in on SABR. Citigroup reissued a “buy” rating on shares of Sabre in a research report on Thursday, August 27th. Weiss Ratings downgraded shares of Sabre from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $1.75.

Sabre Stock Down 0.7%

The company has a market cap of $837.43 million, a P/E ratio of 1.26 and a beta of 1.00. The company has a fifty day moving average of $1.99 and a 200 day moving average of $1.74.

Sabre (NASDAQ:SABR) last released its earnings results on Thursday, August 6th. The information technology services provider reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates 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. As a group, research analysts forecast that Sabre Corporation will post -0.21 EPS for the current year.

Institutional Trading of Sabre

Several hedge funds have recently modified their holdings of SABR. Cerity Partners LLC raised its stake in shares of Sabre by 22.6% during the 2nd quarter. Cerity Partners LLC now owns 30,462 shares of the information technology services provider’s stock worth $96,000 after buying an additional 5,617 shares during the last quarter. Captrust Financial Advisors grew its stake in Sabre by 17.8% in the 2nd quarter. Captrust Financial Advisors now owns 54,707 shares of the information technology services provider’s stock worth $173,000 after acquiring an additional 8,262 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Sabre by 4.6% during 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 acquiring an additional 9,923 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Sabre by 12.9% in the 1st quarter. Empowered Funds LLC now owns 91,891 shares of the information technology services provider’s stock worth $258,000 after purchasing an additional 10,530 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of Sabre by 0.9% during the 4th quarter. Wells Fargo & Company MN now owns 1,157,394 shares of the information technology services provider’s stock valued at $1,574,000 after acquiring an additional 10,742 shares in the last quarter. 89.42% of the stock is owned by hedge funds and other institutional investors.

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.