Sabre (NASDAQ:SABR) Shares Down 3.6% – Here’s What Happened

Sabre Co. (NASDAQ:SABR)’s share price traded down 3.6% on Tuesday . The company traded as low as $3.40 and last traded at $3.39. 290,685 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 4,005,148 shares. The stock had previously closed at $3.51.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Bank of America raised Sabre from a “neutral” rating to a “buy” rating and boosted their target price for the company from $4.50 to $6.10 in a research report on Tuesday, March 4th. StockNews.com upgraded Sabre from a “hold” rating to a “buy” rating in a report on Friday, February 21st. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $4.00 target price on shares of Sabre in a report on Friday, February 21st.

Sabre Stock Down 2.1 %

The company’s 50-day simple moving average is $3.59 and its 200 day simple moving average is $3.58. The firm has a market capitalization of $1.28 billion, a PE ratio of -4.61, a price-to-earnings-growth ratio of 2.43 and a beta of 1.62.

Sabre (NASDAQ:SABR) last issued its quarterly earnings results on Thursday, February 20th. The information technology services provider reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). The firm had revenue of $714.72 million during the quarter, compared to analyst estimates of $716.60 million. On average, sell-side analysts forecast that Sabre Co. will post 0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sabre

Large investors have recently made changes to their positions in the stock. Erste Asset Management GmbH acquired a new stake in Sabre during the 3rd quarter valued at approximately $36,185,000. U S Global Investors Inc. purchased a new position in shares of Sabre in the 4th quarter valued at about $20,509,000. Arrowstreet Capital Limited Partnership grew its holdings in Sabre by 831.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,859,649 shares of the information technology services provider’s stock valued at $21,388,000 after purchasing an additional 5,230,239 shares during the period. Norges Bank acquired a new stake in Sabre in the 4th quarter valued at $5,955,000. Finally, Cooper Creek Partners Management LLC grew its position in shares of Sabre by 139.7% in the fourth quarter. Cooper Creek Partners Management LLC now owns 2,638,059 shares of the information technology services provider’s stock valued at $9,629,000 after purchasing an additional 1,537,625 shares during the period. 89.42% of the stock is owned by hedge funds and other institutional investors.

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.