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

Sabre Co. (NASDAQ:SABR)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $3.79, but opened at $3.57. Sabre shares last traded at $3.41, with a volume of 974,451 shares traded.

Wall Street Analysts Forecast Growth

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

Sabre Stock Down 6.9 %

The stock has a market capitalization of $1.36 billion, a PE ratio of -4.24 and a beta of 1.74. The business’s 50-day moving average is $3.47 and its two-hundred day moving average is $3.14.

Sabre (NASDAQ:SABR) last released its quarterly earnings data on Thursday, October 31st. The information technology services provider reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $764.71 million for the quarter, compared to analysts’ expectations of $774.53 million. During the same period in the prior year, the firm posted ($0.10) EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, analysts anticipate that Sabre Co. will post -0.31 EPS for the current year.

Institutional Investors Weigh In On Sabre

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd bought a new stake in shares of Sabre in the 1st quarter worth approximately $784,000. ProShare Advisors LLC grew its position in shares of Sabre by 7.2% in the 1st quarter. ProShare Advisors LLC now owns 67,840 shares of the information technology services provider’s stock valued at $164,000 after purchasing an additional 4,580 shares during the period. Tidal Investments LLC acquired a new position in Sabre during the first quarter valued at approximately $3,463,000. Envestnet Asset Management Inc. lifted its position in Sabre by 51.7% during the second quarter. Envestnet Asset Management Inc. now owns 1,672,298 shares of the information technology services provider’s stock worth $4,465,000 after acquiring an additional 570,197 shares during the last quarter. Finally, Earnest Partners LLC increased its position in Sabre by 62.6% during the 2nd quarter. Earnest Partners LLC now owns 33,353,912 shares of the information technology services provider’s stock worth $89,055,000 after buying an additional 12,838,230 shares during the period. Hedge funds and other institutional investors 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.