Sabre (NASDAQ:SABR) Trading 7.9% Higher – Here’s What Happened

Shares of Sabre Corporation (NASDAQ:SABR) traded up 7.9% on Friday . The stock traded as high as $1.31 and last traded at $1.3050. 4,256,857 shares were traded during trading, a decline of 14% from the average session volume of 4,932,658 shares. The stock had previously closed at $1.21.

Analyst Ratings Changes

Several equities analysts have commented on SABR shares. Zacks Research lowered shares of Sabre from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sabre in a research report on Monday, December 29th. Finally, Wall Street Zen lowered shares of Sabre from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Sabre has a consensus rating of “Reduce” and a consensus target price of $3.80.

Sabre Stock Up 7.4%

The firm has a market capitalization of $513.36 million, a price-to-earnings ratio of 1.06 and a beta of 1.07. The company has a fifty day moving average price of $1.43 and a two-hundred day moving average price of $1.83.

Sabre (NASDAQ:SABR) last released its quarterly earnings results on Wednesday, November 5th. The information technology services provider reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.05). The company had revenue of $715.18 million for the quarter, compared to analysts’ expectations of $715.32 million. During the same period last year, the business posted ($0.04) EPS. Sabre’s revenue was up 3.5% compared to the same quarter last year. On average, equities analysts anticipate that Sabre Corporation will post 0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sabre

Institutional investors have recently added to or reduced their stakes in the stock. Discerene Group LP lifted its position in Sabre by 34.5% during the 3rd quarter. Discerene Group LP now owns 28,565,608 shares of the information technology services provider’s stock worth $52,275,000 after acquiring an additional 7,323,272 shares during the period. Par Capital Management Inc. lifted its holdings in shares of Sabre by 57.7% during the second quarter. Par Capital Management Inc. now owns 19,350,000 shares of the information technology services provider’s stock worth $61,146,000 after purchasing an additional 7,082,948 shares during the period. Millennium Management LLC lifted its holdings in shares of Sabre by 1,057.1% during the third quarter. Millennium Management LLC now owns 4,248,540 shares of the information technology services provider’s stock worth $7,775,000 after purchasing an additional 3,881,379 shares during the period. U S Global Investors Inc. grew its position in Sabre by 54.0% in the 3rd quarter. U S Global Investors Inc. now owns 8,696,449 shares of the information technology services provider’s stock valued at $15,915,000 after buying an additional 3,049,688 shares during the last quarter. Finally, Simcoe Capital Management LLC acquired a new position in Sabre in the 2nd quarter valued at $7,649,000. Institutional investors and hedge funds own 89.42% of the company’s stock.

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.