Sabre (NASDAQ:SABR) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Shares of Sabre Corporation (NASDAQ:SABR) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $1.68 and traded as high as $1.89. Sabre shares last traded at $1.84, with a volume of 4,995,539 shares traded.

Wall Street Analysts Forecast Growth

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

Sabre Stock Performance

The firm has a market capitalization of $727.37 million, a P/E ratio of 1.69 and a beta of 0.99. The stock’s 50 day simple moving average is $1.68 and its 200 day simple moving average is $1.49.

Sabre (NASDAQ:SABR) last announced its quarterly earnings results on Thursday, May 7th. The information technology services provider reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.11. The business had revenue of $760.33 million during the quarter, compared to analysts’ expectations of $739.02 million. On average, analysts anticipate that Sabre Corporation will post -0.13 earnings per share for the current year.

Institutional Investors Weigh In On Sabre

Hedge funds have recently modified their holdings of the business. Discerene Group LP lifted its position in shares of Sabre by 34.5% in the 3rd quarter. Discerene Group LP now owns 28,565,608 shares of the information technology services provider’s stock worth $52,275,000 after purchasing an additional 7,323,272 shares during the period. U S Global Investors Inc. lifted its position in shares of 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 worth $13,836,000 after purchasing an additional 1,477,143 shares during the period. Simon Quick Advisors LLC purchased a new stake in shares of Sabre in the 4th quarter worth approximately $1,326,000. Mizuho Markets Americas LLC purchased a new stake in shares of Sabre in the 4th quarter worth approximately $2,720,000. Finally, Prescott Group Capital Management L.L.C. lifted its position in shares of Sabre by 766.6% in the 4th quarter. Prescott Group Capital Management L.L.C. now owns 2,954,897 shares of the information technology services provider’s stock worth $4,019,000 after purchasing an additional 2,613,913 shares during the period. Hedge funds and other institutional investors 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.