Sabre (NASDAQ:SABR) Shares Down 5.6% – Here’s What Happened

Sabre Corporation (NASDAQ:SABR)’s share price fell 5.6% during trading on Tuesday. The company traded as low as $1.79 and last traded at $1.7750. 814,583 shares traded hands during trading, a decline of 88% from the average session volume of 6,831,285 shares. The stock had previously closed at $1.88.

Analyst Upgrades and Downgrades

SABR has been the topic of a number of research analyst reports. Weiss Ratings downgraded shares of Sabre from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Citigroup reaffirmed a “buy” rating on shares of Sabre in a research report on Thursday, August 27th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $1.75.

Sabre Trading Down 4.5%

The stock has a market cap of $724.43 million, a PE ratio of 1.09 and a beta of 1.06. The business has a 50-day moving average price of $2.12 and a 200 day moving average price of $1.89.

Sabre (NASDAQ:SABR) last announced its quarterly earnings data on Thursday, August 6th. The information technology services provider reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.13). The company had revenue of $711.96 million during the quarter, compared to the consensus estimate of $697.40 million. On average, equities analysts predict that Sabre Corporation will post -0.21 earnings per share for the current year.

Hedge Funds Weigh In On Sabre

Large investors have recently modified their holdings of the business. BlackRock Inc. bought a new position in Sabre in the 2nd quarter worth approximately $114,425,000. Arini Capital Management Ltd bought a new stake in Sabre during the 2nd quarter valued at $81,719,000. Discerene Group LP raised its holdings in Sabre by 1.5% during the 1st quarter. Discerene Group LP now owns 39,093,531 shares of the information technology services provider’s stock valued at $56,686,000 after acquiring an additional 569,711 shares during the period. Ampfield Management L.P. purchased a new stake in shares of Sabre during the first quarter worth $7,505,000. Finally, Graham Capital Management L.P. purchased a new stake in shares of Sabre during the fourth quarter worth $6,054,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

About Sabre

Sabre Corporation (NASDAQ: SABR) is a travel technology company that provides software, data, and marketplace solutions for the global travel industry. Its platform connects airlines, hotels, travel agencies, corporate travel departments, online travel companies, and other travel suppliers, helping them distribute and manage travel content, reservations, and related services.

The company’s offerings include global distribution capabilities, application programming interfaces, travel booking tools, and agency solutions such as the Sabre Red 360 platform.