Sabre Corporation (NASDAQ:SABR – Get Free Report) shares rose 8.9% on Wednesday . The company traded as high as $1.87 and last traded at $1.9050. 617,463 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 8,193,203 shares. The stock had previously closed at $1.75.
Wall Street Analysts Forecast Growth
SABR has been the subject of several research analyst reports. Weiss Ratings upgraded shares of Sabre from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 8th. Sanford C. Bernstein reissued a “market perform” rating and issued a $1.50 target price on shares of Sabre in a research report on Tuesday, March 3rd. Four analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $1.97.
Check Out Our Latest Stock Analysis on SABR
Sabre Stock Down 0.5%
Sabre (NASDAQ:SABR – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.11. The company had revenue of $760.33 million for the quarter, compared to analysts’ expectations of $739.02 million. As a group, equities analysts anticipate that Sabre Corporation will post -0.13 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. Royal Bank of Canada raised its position in shares of Sabre by 46.9% in the first quarter. Royal Bank of Canada now owns 174,893 shares of the information technology services provider’s stock worth $491,000 after buying an additional 55,840 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Sabre by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 227,323 shares of the information technology services provider’s stock valued at $639,000 after acquiring an additional 9,923 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Sabre during the 1st quarter valued at about $140,000. Jones Financial Companies Lllp boosted its position in shares of Sabre by 265.7% during the 1st quarter. Jones Financial Companies Lllp now owns 286,802 shares of the information technology services provider’s stock valued at $806,000 after acquiring an additional 208,371 shares during the last quarter. Finally, United Services Automobile Association purchased a new position in shares of Sabre during the first quarter worth about $80,000. 89.42% of the stock is currently owned by hedge funds and other institutional investors.
About Sabre
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.
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