Sabre (NASDAQ:SABR) Trading Down 8% – Here’s What Happened

Sabre Co. (NASDAQ:SABR)’s stock price traded down 8% during mid-day trading on Monday . The stock traded as low as $2.82 and last traded at $2.82. 2,809,323 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 4,183,422 shares. The stock had previously closed at $3.06.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. StockNews.com raised Sabre from a “hold” rating to a “buy” rating in a research report on Friday, February 21st. Bank of America raised shares of Sabre from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $4.50 to $6.10 in a research note on Tuesday, March 4th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $4.00 target price on shares of Sabre in a research note on Friday, February 21st.

Sabre Trading Down 8.0 %

The firm has a market capitalization of $1.09 billion, a P/E ratio of -3.90, a price-to-earnings-growth ratio of 2.43 and a beta of 1.62. The business’s 50 day simple moving average is $3.58 and its two-hundred day simple moving average is $3.59.

Sabre (NASDAQ:SABR) last announced its quarterly earnings data on Thursday, February 20th. The information technology services provider reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). The company had revenue of $714.72 million for the quarter, compared to the consensus estimate of $716.60 million. Analysts predict that Sabre Co. will post 0.04 EPS for the current fiscal year.

Institutional Trading of Sabre

A number of institutional investors have recently made changes to their positions in SABR. Intech Investment Management LLC boosted its stake in shares of Sabre by 403.5% in the 3rd quarter. Intech Investment Management LLC now owns 91,116 shares of the information technology services provider’s stock worth $334,000 after buying an additional 73,018 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Sabre by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,454,914 shares of the information technology services provider’s stock worth $20,020,000 after purchasing an additional 39,509 shares during the last quarter. FMR LLC grew its position in Sabre by 24.5% during the third quarter. FMR LLC now owns 15,849 shares of the information technology services provider’s stock valued at $58,000 after buying an additional 3,116 shares during the period. Verition Fund Management LLC increased its stake in shares of Sabre by 37.3% in the 3rd quarter. Verition Fund Management LLC now owns 189,924 shares of the information technology services provider’s stock worth $697,000 after purchasing an additional 51,595 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new position in shares of Sabre during the 3rd quarter valued at about $36,185,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

About Sabre

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.