Sabre (NASDAQ:SABR) Shares Down 5.6% – Here’s What Happened

Sabre Co. (NASDAQ:SABR) shares fell 5.6% during mid-day trading on Tuesday . The stock traded as low as $3.70 and last traded at $3.72. 3,512,836 shares traded hands during trading, a decline of 19% from the average session volume of 4,357,820 shares. The stock had previously closed at $3.94.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SABR. Sanford C. Bernstein reissued an “underperform” rating and set a $3.00 price objective on shares of Sabre in a research note on Tuesday, November 19th. StockNews.com downgraded shares of Sabre from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $3.50.

Sabre Stock Performance

The firm’s 50-day moving average is $3.62 and its 200 day moving average is $3.22.

Sabre (NASDAQ:SABR) last issued its quarterly earnings results on Thursday, October 31st. The information technology services provider reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. The company had revenue of $764.71 million for the quarter, compared to analyst estimates of $774.53 million. During the same period last year, the company posted ($0.10) EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities research analysts expect that Sabre Co. will post -0.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Sabre

Several large investors have recently made changes to their positions in the business. Earnest Partners LLC increased its position in shares of Sabre by 62.6% in the second quarter. Earnest Partners LLC now owns 33,353,912 shares of the information technology services provider’s stock worth $89,055,000 after acquiring an additional 12,838,230 shares in the last quarter. State Street Corp increased its position in shares of Sabre by 1.0% in the third quarter. State Street Corp now owns 14,018,002 shares of the information technology services provider’s stock worth $51,446,000 after acquiring an additional 140,218 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Sabre in the third quarter worth $36,185,000. Geode Capital Management LLC grew its holdings in Sabre by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 9,081,259 shares of the information technology services provider’s stock valued at $33,335,000 after purchasing an additional 145,383 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Sabre by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,454,914 shares of the information technology services provider’s stock valued at $20,020,000 after purchasing an additional 39,509 shares in the last quarter. 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.