Sabre (NASDAQ:SABR) Trading Up 6.4% – Here’s Why

Sabre Corporation (NASDAQ:SABR)’s stock price rose 6.4% during trading on Monday . The stock traded as high as $2.23 and last traded at $2.2350. 1,669,547 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 7,109,716 shares. The stock had previously closed at $2.10.

Wall Street Analysts Forecast Growth

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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $1.75.

Sabre Price Performance

The business’s fifty day moving average price is $1.96 and its 200-day moving average price is $1.69. The stock has a market capitalization of $912.09 million, a PE ratio of 1.37 and a beta of 0.97.

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

Hedge Funds Weigh In On Sabre

A number of institutional investors have recently added to or reduced their stakes in the business. Vise Technologies Inc. purchased a new position in shares of Sabre in the second quarter worth about $30,000. Allworth Financial LP purchased a new stake in Sabre during the 2nd quarter valued at about $31,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Sabre during the 2nd quarter valued at about $32,000. DGS Capital Management LLC bought a new position in Sabre during the 1st quarter worth approximately $25,000. Finally, Wealthspire Retirement LLC bought a new position in Sabre during the 1st quarter worth approximately $25,000. 89.42% of the stock is currently owned by institutional investors.

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.