Sabre (NASDAQ:SABR) Sets New 1-Year High – Here’s What Happened

Sabre Corporation (NASDAQ:SABR) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $2.30 and last traded at $2.2550, with a volume of 340922 shares. The stock had previously closed at $2.26.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Sabre from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $1.75.

Sabre Price Performance

The company has a 50-day simple moving average of $1.95 and a 200-day simple moving average of $1.69. The stock has a market cap of $897.97 million, a PE ratio of 1.35 and a beta of 0.97.

Sabre (NASDAQ:SABR) last released its earnings results on Thursday, August 6th. The information technology services provider reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.13). The business had revenue of $711.96 million during the quarter, compared to the consensus estimate of $697.40 million. On average, equities analysts expect that Sabre Corporation will post -0.16 EPS for the current fiscal year.

Institutional Trading of Sabre

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada increased its holdings in Sabre by 46.9% in the first quarter. Royal Bank of Canada now owns 174,893 shares of the information technology services provider’s stock valued at $491,000 after buying an additional 55,840 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Sabre by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 227,323 shares of the information technology services provider’s stock worth $639,000 after acquiring an additional 9,923 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Sabre in the 1st quarter worth approximately $140,000. Jones Financial Companies Lllp grew its holdings in shares of Sabre by 265.7% in the 1st quarter. Jones Financial Companies Lllp now owns 286,802 shares of the information technology services provider’s stock worth $806,000 after acquiring an additional 208,371 shares during the period. Finally, United Services Automobile Association acquired a new stake in shares of Sabre in the 1st quarter worth approximately $80,000. Institutional investors and hedge funds 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.