Shares of Sabre Co. (NASDAQ:SABR – Get Free Report) gapped down before the market opened on Monday after Bank of America lowered their price target on the stock from $4.50 to $3.00. The stock had previously closed at $2.65, but opened at $2.57. Bank of America currently has a neutral rating on the stock. Sabre shares last traded at $2.55, with a volume of 392,035 shares.
Several other brokerages have also issued reports on SABR. StockNews.com lowered Sabre from a “buy” rating to a “hold” rating in a research note on Friday, April 5th. Cantor Fitzgerald initiated coverage on Sabre in a report on Wednesday, February 21st. They issued an “overweight” rating and a $5.00 price objective on the stock. Finally, Mizuho decreased their price objective on Sabre from $4.00 to $3.00 and set a “neutral” rating on the stock in a report on Monday, March 4th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Sabre has an average rating of “Hold” and an average target price of $4.00.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Sabre by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 41,643,643 shares of the information technology services provider’s stock valued at $183,232,000 after purchasing an additional 1,732,513 shares during the period. Discerene Group LP increased its holdings in Sabre by 1.2% during the 4th quarter. Discerene Group LP now owns 16,167,025 shares of the information technology services provider’s stock valued at $71,135,000 after purchasing an additional 184,300 shares during the period. Apollo Management Holdings L.P. purchased a new position in Sabre during the 1st quarter valued at about $61,780,000. State Street Corp increased its holdings in Sabre by 2.0% during the 2nd quarter. State Street Corp now owns 11,952,040 shares of the information technology services provider’s stock valued at $38,127,000 after purchasing an additional 238,096 shares during the period. Finally, Yiheng Capital Management L.P. increased its holdings in Sabre by 13.5% during the 2nd quarter. Yiheng Capital Management L.P. now owns 11,826,186 shares of the information technology services provider’s stock valued at $37,726,000 after purchasing an additional 1,404,444 shares during the period. Hedge funds and other institutional investors own 89.42% of the company’s stock.
Sabre Trading Down 2.6 %
The business has a fifty day simple moving average of $2.74 and a two-hundred day simple moving average of $3.56. The stock has a market cap of $979.08 million, a PE ratio of -1.68 and a beta of 1.77.
Sabre (NASDAQ:SABR – Get Free Report) last issued its quarterly earnings results on Thursday, February 15th. The information technology services provider reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The firm had revenue of $687.05 million during the quarter, compared to analysts’ expectations of $707.89 million. On average, research analysts predict that Sabre Co. will post -0.21 earnings per share for the current year.
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.