Sabre (NASDAQ:SABR) Trading Down 8% – Here’s What Happened

Sabre Co. (NASDAQ:SABR)’s stock price fell 8% on Monday . The company traded as low as $2.82 and last traded at $2.82. 2,809,323 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 4,183,422 shares. The stock had previously closed at $3.06.

Analyst Ratings Changes

A number of brokerages have commented on SABR. Sanford C. Bernstein upgraded shares of Sabre from an “underperform” rating to a “market perform” rating and set a $3.50 price target on the stock in a research report on Tuesday. Cantor Fitzgerald reissued a “neutral” rating and issued a $4.00 price target on shares of Sabre in a research note on Friday, February 21st. Bank of America upgraded Sabre from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $4.50 to $6.10 in a report on Tuesday, March 4th. Finally, StockNews.com upgraded Sabre from a “hold” rating to a “buy” rating in a report on Friday, February 21st.

Sabre Stock Performance

The firm has a market cap of $1.00 billion, a PE ratio of -3.61, a PEG ratio of 2.43 and a beta of 1.62. The company’s 50-day simple moving average is $3.56 and its two-hundred day simple moving average is $3.58.

Sabre (NASDAQ:SABR) last announced its quarterly earnings results on Thursday, February 20th. The information technology services provider reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). The company had revenue of $714.72 million during the quarter, compared to the consensus estimate of $716.60 million. On average, analysts expect that Sabre Co. will post 0.04 EPS for the current year.

Institutional Trading of Sabre

Several large investors have recently added to or reduced their stakes in SABR. Sterling Capital Management LLC boosted its position in Sabre by 744.8% during the 4th quarter. Sterling Capital Management LLC now owns 9,589 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 8,454 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Sabre by 173.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 9,935 shares of the information technology services provider’s stock valued at $36,000 after purchasing an additional 6,298 shares during the period. Zacks Investment Management bought a new stake in shares of Sabre during the third quarter valued at approximately $41,000. MML Investors Services LLC purchased a new stake in Sabre in the third quarter worth $45,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Sabre in the fourth quarter worth $45,000. Institutional investors own 89.42% of the company’s stock.

About Sabre

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.