Sabre Co. (NASDAQ:SABR – Get Rating) was down 8% during trading on Thursday after Mizuho lowered their price target on the stock from $8.00 to $7.00. Mizuho currently has a neutral rating on the stock. Sabre traded as low as $6.53 and last traded at $6.65. Approximately 56,261 shares traded hands during trading, a decline of 99% from the average daily volume of 4,211,707 shares. The stock had previously closed at $7.23.
SABR has been the topic of a number of other research reports. Morgan Stanley dropped their price target on Sabre from $13.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 12th. Bank of America raised Sabre from an “underperform” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Wednesday, July 6th.
Insider Transactions at Sabre
In other news, CEO Sean E. Menke sold 20,000 shares of Sabre stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $8.01, for a total transaction of $160,200.00. Following the completion of the transaction, the chief executive officer now directly owns 1,257,888 shares in the company, valued at approximately $10,075,682.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.
Institutional Trading of Sabre
Several institutional investors have recently added to or reduced their stakes in SABR. ProShare Advisors LLC boosted its stake in Sabre by 30.8% in the 4th quarter. ProShare Advisors LLC now owns 29,253 shares of the information technology services provider’s stock valued at $252,000 after purchasing an additional 6,888 shares during the period. First Trust Advisors LP bought a new stake in Sabre in the 4th quarter valued at $743,000. Swiss National Bank raised its holdings in Sabre by 0.6% in the 4th quarter. Swiss National Bank now owns 674,500 shares of the information technology services provider’s stock valued at $5,794,000 after acquiring an additional 3,900 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Sabre by 8.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 59,924 shares of the information technology services provider’s stock valued at $515,000 after acquiring an additional 4,627 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in shares of Sabre during the 4th quarter worth $85,000.
Sabre Price Performance
The stock has a 50-day moving average of $6.85 and a 200 day moving average of $8.26. The company has a market cap of $2.21 billion, a P/E ratio of -3.97 and a beta of 1.73.
Sabre (NASDAQ:SABR – Get Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The information technology services provider reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.12. The firm had revenue of $657.53 million for the quarter, compared to analyst estimates of $649.71 million. The company’s quarterly revenue was up 56.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.61) earnings per share. Sell-side analysts predict that Sabre Co. will post -1.35 EPS for the current year.
Sabre Company Profile
Sabre Corporation, through its subsidiary, Sabre Holdings Corporation, provides software and technology solutions for the travel industry worldwide. It operates in two segments, Travel Solutions and Hospitality Solutions. The Travel Solutions segment operates as 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.