Sabre (NASDAQ:SABR) Stock Price Down 9.6%

Sabre Co. (NASDAQ:SABR)’s share price fell 9.6% during mid-day trading on Friday . The stock traded as low as $2.63 and last traded at $2.63. 2,494,007 shares were traded during mid-day trading, a decline of 54% from the average session volume of 5,427,877 shares. The stock had previously closed at $2.91.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SABR shares. StockNews.com cut shares of Sabre from a “buy” rating to a “hold” rating in a research note on Friday, April 5th. Bank of America dropped their price target on Sabre from $4.50 to $3.00 and set a “neutral” rating on the stock in a research note on Monday, April 15th. Cantor Fitzgerald started coverage on shares of Sabre in a research report on Wednesday, February 21st. They issued an “overweight” rating and a $5.00 target price for the company. Finally, Mizuho lowered their price target on Sabre from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Monday, March 4th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $4.00.

Sabre Stock Performance

The firm has a market cap of $979.08 million, a P/E ratio of -1.78 and a beta of 1.69. The company’s 50 day moving average is $2.47 and its 200 day moving average is $3.43.

Sabre (NASDAQ:SABR) last released its quarterly earnings results on Thursday, February 15th. The information technology services provider reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The business had revenue of $687.05 million during the quarter, compared to analysts’ expectations of $707.89 million. On average, equities research analysts anticipate that Sabre Co. will post -0.21 EPS for the current year.

Hedge Funds Weigh In On Sabre

Institutional investors have recently made changes to their positions in the stock. Capstone Investment Advisors LLC bought a new stake in Sabre during the 1st quarter worth approximately $282,000. BNP Paribas Financial Markets lifted its holdings in Sabre by 20.5% during the first quarter. BNP Paribas Financial Markets now owns 166,659 shares of the information technology services provider’s stock worth $403,000 after acquiring an additional 28,369 shares during the period. New Mexico Educational Retirement Board purchased a new position in Sabre in the first quarter worth $159,000. First Trust Direct Indexing L.P. bought a new position in Sabre in the 1st quarter valued at $28,000. Finally, Oxinas Partners Wealth Management LLC grew its position in Sabre by 138.5% during the first quarter. Oxinas Partners Wealth Management LLC now owns 327,520 shares of the information technology services provider’s stock valued at $793,000 after buying an additional 190,200 shares during the period. Institutional investors and hedge funds own 89.42% of the company’s stock.

Sabre Company Profile

Sabre Corporation, together with its subsidiaries, operates as software and technology company for travel industry in the United States, Europe, Asia-Pacific, and internationally. It operates through two segments: Travel Solutions and Hospitality Solutions. The Travel Solutions segment operates a business-to-business travel marketplace that offers travel content, such as inventory, prices, and availability from a range of travel suppliers, including airlines, hotels, car rental brands, rail carriers, cruise lines, and tour operators with a network of travel buyers comprising online and offline travel agencies, travel management companies, and corporate travel departments.