Sabre (NASDAQ:SABR) Trading 8.9% Higher – Here’s Why

Sabre Corporation (NASDAQ:SABR) shares rose 8.9% during mid-day trading on Wednesday . The company traded as high as $1.87 and last traded at $1.9050. 617,463 shares were traded during trading, a decline of 92% from the average session volume of 8,193,203 shares. The stock had previously closed at $1.75.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SABR. Weiss Ratings raised Sabre from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 8th. Sanford C. Bernstein reissued a “market perform” rating and issued a $1.50 price target on shares of Sabre in a report on Tuesday, March 3rd. Four equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Sabre currently has an average rating of “Reduce” and a consensus price target of $1.97.

Sabre Stock Up 11.1%

The firm has a market capitalization of $768.88 million, a PE ratio of 1.79 and a beta of 0.99. The company has a 50-day moving average of $1.76 and a 200 day moving average of $1.51.

Sabre (NASDAQ:SABR) last released its quarterly earnings results on Thursday, May 7th. The information technology services provider reported $0.06 earnings per share for the quarter, beating 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. As a group, equities analysts anticipate that Sabre Corporation will post -0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Sabre

Institutional investors have recently made changes to their positions in the stock. Discerene Group LP increased its holdings in shares of Sabre by 1.5% in the 1st quarter. Discerene Group LP now owns 39,093,531 shares of the information technology services provider’s stock worth $56,686,000 after buying an additional 569,711 shares during the last quarter. Par Capital Management Inc. lifted its holdings in shares of Sabre by 57.7% during the 2nd quarter. Par Capital Management Inc. now owns 19,350,000 shares of the information technology services provider’s stock worth $61,146,000 after acquiring an additional 7,082,948 shares during the last quarter. State Street Corp grew its position in Sabre by 2.4% in the fourth quarter. State Street Corp now owns 14,813,630 shares of the information technology services provider’s stock worth $20,147,000 after acquiring an additional 343,209 shares in the last quarter. U S Global Investors Inc. grew its position in Sabre by 17.0% in the fourth 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 acquiring an additional 1,477,143 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Sabre by 2.2% in the fourth 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 acquiring an additional 197,433 shares during the last quarter. 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.