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

Sabre Corporation (NASDAQ:SABR)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $1.72, but opened at $1.6140. Sabre shares last traded at $1.6050, with a volume of 1,414,054 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SABR. Sanford C. Bernstein reiterated a “market perform” rating and set a $1.50 price objective on shares of Sabre in a research note on Tuesday, March 3rd. Cantor Fitzgerald reiterated a “neutral” rating and set a $2.00 price objective on shares of Sabre in a research note on Thursday, February 19th. Weiss Ratings upgraded shares of Sabre from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 8th. Finally, Zacks Research upgraded shares of Sabre from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 11th. Four analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Sabre has a consensus rating of “Reduce” and a consensus target price of $1.97.

Sabre Price Performance

The stock has a market cap of $630.52 million, a P/E ratio of 1.46 and a beta of 1.01. The business’s fifty day moving average price is $1.65 and its 200 day moving average price is $1.52.

Sabre (NASDAQ:SABR) last posted its earnings results on Thursday, May 7th. The information technology services provider reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.11. The company had revenue of $760.33 million during the quarter, compared to the consensus estimate of $739.02 million. On average, analysts predict that Sabre Corporation will post -0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Discerene Group LP lifted its holdings in shares of Sabre by 1.5% in the first quarter. Discerene Group LP now owns 39,093,531 shares of the information technology services provider’s stock worth $56,686,000 after acquiring an additional 569,711 shares during the last quarter. Par Capital Management Inc. raised its holdings in Sabre by 57.7% in the 2nd quarter. Par Capital Management Inc. now owns 19,350,000 shares of the information technology services provider’s stock valued at $61,146,000 after buying an additional 7,082,948 shares during the last quarter. State Street Corp raised its holdings in Sabre by 2.4% in the 4th quarter. State Street Corp now owns 14,813,630 shares of the information technology services provider’s stock valued at $20,147,000 after buying an additional 343,209 shares during the last quarter. U S Global Investors Inc. raised its holdings in Sabre by 17.0% in the 4th quarter. U S Global Investors Inc. now owns 10,173,592 shares of the information technology services provider’s stock valued at $13,836,000 after buying an additional 1,477,143 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Sabre by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 9,273,047 shares of the information technology services provider’s stock valued at $12,614,000 after buying an additional 197,433 shares during the last quarter. Institutional investors own 89.42% of the company’s stock.

Sabre Company Profile

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.