Sabre (NASDAQ:SABR) Stock Price Up 8% – Here’s Why
by Teresa Graham · The Cerbat GemSabre Corporation (NASDAQ:SABR – Get Free Report)’s stock price rose 8% on Wednesday . The company traded as high as $1.72 and last traded at $1.6950. Approximately 1,437,544 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 9,536,801 shares. The stock had previously closed at $1.57.
Wall Street Analysts Forecast Growth
SABR has been the subject of a number of research reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sabre in a research note on Monday, December 29th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $2.00 price objective on shares of Sabre in a research note on Thursday, February 19th. Zacks Research raised shares of Sabre from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 11th. Finally, Sanford C. Bernstein reissued a “market perform” rating and set a $1.50 price target on shares of Sabre in a research report on Tuesday, March 3rd. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $2.35.
Check Out Our Latest Research Report on Sabre
Sabre Stock Performance
The company’s fifty day moving average is $1.37 and its two-hundred day moving average is $1.53. The company has a market cap of $685.62 million, a price-to-earnings ratio of 1.50 and a beta of 0.85.
Sabre (NASDAQ:SABR – Get Free Report) last issued its quarterly earnings results on Wednesday, February 18th. The information technology services provider reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.06. The business had revenue of $666.53 million during the quarter, compared to analyst estimates of $654.08 million. On average, sell-side analysts anticipate that Sabre Corporation will post 0.04 EPS for the current fiscal year.
Hedge Funds Weigh In On Sabre
Several hedge funds and other institutional investors have recently bought and sold shares of SABR. GSA Capital Partners LLP purchased a new stake in Sabre in the 3rd quarter worth approximately $32,000. Diligent Investors LLC purchased a new stake in Sabre in the 3rd quarter worth approximately $35,000. Oak Thistle LLC purchased a new stake in Sabre in the 4th quarter worth approximately $27,000. Caprock Group LLC purchased a new stake in Sabre in the 3rd quarter worth approximately $43,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in Sabre by 970.5% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 24,665 shares of the information technology services provider’s stock worth $45,000 after purchasing an additional 22,361 shares in the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.
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.