Sabre (NASDAQ:SABR) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Shares of Sabre Corporation (NASDAQ:SABR) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $1.68 and traded as high as $1.89. Sabre shares last traded at $1.84, with a volume of 4,995,539 shares.

Analyst Ratings Changes

Several analysts have commented on SABR shares. Zacks Research upgraded shares of Sabre from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 11th. Weiss Ratings upgraded shares of Sabre from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 8th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $1.50 price target on shares of Sabre in a research note on Tuesday, March 3rd. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $2.00 price target on shares of Sabre in a research note on Thursday, February 19th. Four analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $1.97.

Sabre Stock Performance

The business’s fifty day moving average price is $1.68 and its two-hundred day moving average price is $1.49. The stock has a market capitalization of $727.37 million, a P/E ratio of 1.69 and a beta of 0.99.

Sabre (NASDAQ:SABR) last posted its earnings results on Thursday, May 7th. The information technology services provider reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.11. The business had revenue of $760.33 million during the quarter, compared to the consensus estimate of $739.02 million. As a group, analysts forecast that Sabre Corporation will post -0.13 earnings per share for the current year.

Hedge Funds Weigh In On Sabre

Several hedge funds have recently added to or reduced their stakes in SABR. DGS Capital Management LLC bought a new position in Sabre during the 1st quarter valued at about $25,000. Wealthspire Retirement LLC bought a new position in Sabre during the 1st quarter valued at about $25,000. Oak Thistle LLC bought a new position in Sabre during the 4th quarter valued at about $27,000. GSA Capital Partners LLP bought a new position in Sabre during the 3rd quarter valued at about $32,000. Finally, Diligent Investors LLC bought a new position in Sabre during the 3rd quarter valued at about $35,000. 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.