Sabre (NASDAQ:SABR) Trading 9% Higher – Here’s Why

Sabre Corporation (NASDAQ:SABR)’s stock price rose 9% during mid-day trading on Tuesday . The company traded as high as $1.67 and last traded at $1.6950. Approximately 1,426,944 shares traded hands during trading, a decline of 87% from the average daily volume of 11,144,521 shares. The stock had previously closed at $1.5550.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SABR. Zacks Research raised shares of Sabre from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 11th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $2.00 price objective on shares of Sabre in a research note on Thursday, February 19th. Weiss Ratings reissued a “sell (d+)” rating on shares of Sabre in a research note on Monday, December 29th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $1.50 price target on shares of Sabre in a report on Tuesday, March 3rd. Four investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Sabre has an average rating of “Reduce” and an average target price of $2.35.

Sabre Stock Performance

The firm has a 50-day moving average price of $1.29 and a two-hundred day moving average price of $1.57. The firm has a market cap of $665.86 million, a price-to-earnings ratio of 1.45 and a beta of 1.02.

Sabre (NASDAQ:SABR) last announced its quarterly earnings results on Wednesday, February 18th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. Research analysts anticipate that Sabre Corporation will post 0.04 earnings per share for the current year.

Institutional Trading of Sabre

Large investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its position in Sabre by 177.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 68,523 shares of the information technology services provider’s stock worth $93,000 after acquiring an additional 43,858 shares during the last quarter. Alpine Global Management LLC purchased a new stake in shares of Sabre in the fourth quarter valued at $176,000. EP Wealth Advisors LLC purchased a new position in Sabre in the 4th quarter valued at about $113,000. XTX Topco Ltd grew its holdings in shares of Sabre by 196.2% during the fourth quarter. XTX Topco Ltd now owns 190,088 shares of the information technology services provider’s stock worth $259,000 after buying an additional 125,905 shares in the last quarter. Finally, Saba Capital Management L.P. raised its position in shares of Sabre by 46.7% in the fourth quarter. Saba Capital Management L.P. now owns 8,879,182 shares of the information technology services provider’s stock valued at $12,076,000 after buying an additional 2,828,617 shares during the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

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.