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

Sabre Corporation (NASDAQ:SABR) gapped up before the market opened on Monday . The stock had previously closed at $1.18, but opened at $1.30. Sabre shares last traded at $1.4850, with a volume of 7,377,060 shares.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Wall Street Zen cut shares of Sabre from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $2.00 target price on shares of Sabre in a research report on Thursday, February 19th. Weiss Ratings restated a “sell (d+)” rating on shares of Sabre in a research note on Monday, December 29th. Finally, Zacks Research raised shares of Sabre from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 11th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $3.40.

Sabre Stock Performance

The firm has a market capitalization of $610.54 million, a P/E ratio of 1.34 and a beta of 1.02. The stock has a 50 day moving average of $1.23 and a 200-day moving average of $1.58.

Sabre (NASDAQ:SABR) last posted its quarterly earnings results on Wednesday, February 18th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.06. The business had revenue of $666.53 million during the quarter, compared to the consensus estimate of $654.08 million. As a group, sell-side analysts expect that Sabre Corporation will post 0.04 EPS for the current year.

Institutional Investors Weigh In On Sabre

Institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can increased its stake in Sabre by 7.7% in the 2nd quarter. Bank of Montreal Can now owns 59,124 shares of the information technology services provider’s stock worth $187,000 after purchasing an additional 4,208 shares during the period. Cerity Partners LLC grew its holdings in shares of Sabre by 22.6% in the second quarter. Cerity Partners LLC now owns 30,462 shares of the information technology services provider’s stock worth $96,000 after purchasing an additional 5,617 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Sabre by 7.8% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 99,566 shares of the information technology services provider’s stock valued at $315,000 after buying an additional 7,228 shares during the last quarter. Captrust Financial Advisors boosted its position in Sabre by 17.8% during the 2nd quarter. Captrust Financial Advisors now owns 54,707 shares of the information technology services provider’s stock valued at $173,000 after buying an additional 8,262 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Sabre by 17.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 61,329 shares of the information technology services provider’s stock valued at $111,000 after acquiring an additional 9,187 shares during the period. 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.