Sabre (NASDAQ:SABR) Stock Price Down 7.9% – Here’s What Happened

Sabre Corporation (NASDAQ:SABR) shares fell 7.9% during mid-day trading on Friday . The company traded as low as $1.53 and last traded at $1.5650. 2,221,069 shares were traded during trading, a decline of 80% from the average session volume of 11,270,308 shares. The stock had previously closed at $1.70.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $2.00 price target on shares of Sabre in a research note on Thursday, February 19th. Sanford C. Bernstein reissued a “market perform” rating and issued a $1.50 price objective on shares of Sabre in a research report on Tuesday, March 3rd. Weiss Ratings restated a “sell (d+)” rating on shares of Sabre in a research note on Monday, December 29th. Finally, Zacks Research raised shares of Sabre from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 11th. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $2.35.

Sabre Price Performance

The company has a market capitalization of $630.29 million, a PE ratio of 1.38 and a beta of 1.02. The company’s fifty day moving average is $1.29 and its 200-day moving average is $1.58.

Sabre (NASDAQ:SABR) last announced its earnings results on Wednesday, February 18th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.06. The company had revenue of $666.53 million for the quarter, compared to the consensus estimate of $654.08 million. Equities research analysts forecast that Sabre Corporation will post 0.04 EPS for the current fiscal year.

Institutional Trading of Sabre

A number of institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP acquired a new position in shares of Sabre during the third quarter worth $32,000. Diligent Investors LLC purchased a new stake in shares of Sabre during the 3rd quarter valued at $35,000. Oak Thistle LLC acquired a new stake in shares of Sabre in the 4th quarter worth $27,000. Caprock Group LLC purchased a new stake in Sabre in the third quarter valued at about $43,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Sabre by 970.5% in the third quarter. Caitong International Asset Management Co. Ltd now owns 24,665 shares of the information technology services provider’s stock worth $45,000 after acquiring an additional 22,361 shares in the last quarter. 89.42% of the stock is currently owned by 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.