Sabre (NASDAQ:SABR) Stock Price Down 4.5%

Sabre Co. (NASDAQ:SABR) shares fell 4.5% during mid-day trading on Friday . The stock traded as low as $2.55 and last traded at $2.56. 798,863 shares traded hands during trading, a decline of 84% from the average session volume of 4,916,856 shares. The stock had previously closed at $2.68.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SABR shares. Bank of America dropped their target price on shares of Sabre from $4.50 to $3.00 and set a “neutral” rating for the company in a report on Monday, April 15th. Mizuho dropped their price objective on shares of Sabre from $4.00 to $3.00 and set a “neutral” rating for the company in a research note on Monday, March 4th. Finally, StockNews.com upgraded shares of Sabre from a “hold” rating to a “buy” rating in a report on Tuesday, June 18th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $4.13.

Sabre Stock Performance

The business has a 50 day simple moving average of $2.86 and a 200-day simple moving average of $3.22. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -1.79 and a beta of 1.75.

Sabre (NASDAQ:SABR) last announced its quarterly earnings results on Thursday, May 2nd. The information technology services provider reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. The firm had revenue of $782.89 million for the quarter, compared to analyst estimates of $751.02 million. Equities analysts predict that Sabre Co. will post -0.28 earnings per share for the current fiscal year.

Insider Activity

In other Sabre news, CFO Michael O. Randolfi bought 50,000 shares of Sabre stock in a transaction on Friday, May 3rd. The shares were bought at an average price of $2.98 per share, for a total transaction of $149,000.00. Following the completion of the transaction, the chief financial officer now directly owns 587,665 shares of the company’s stock, valued at $1,751,241.70. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other Sabre news, Director Karl Mr. Peterson sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $2.79, for a total value of $27,900.00. Following the sale, the director now owns 134,655 shares of the company’s stock, valued at $375,687.45. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael O. Randolfi purchased 50,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were purchased at an average price of $2.98 per share, for a total transaction of $149,000.00. Following the completion of the purchase, the chief financial officer now directly owns 587,665 shares of the company’s stock, valued at $1,751,241.70. The disclosure for this purchase can be found here. Insiders bought a total of 135,000 shares of company stock valued at $368,650 in the last 90 days. Company insiders own 1.32% of the company’s stock.

Institutional Investors Weigh In On Sabre

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Sabre by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 42,322,231 shares of the information technology services provider’s stock valued at $102,420,000 after acquiring an additional 678,588 shares in the last quarter. Earnest Partners LLC grew its holdings in shares of Sabre by 1.1% in the first quarter. Earnest Partners LLC now owns 20,515,682 shares of the information technology services provider’s stock valued at $49,648,000 after purchasing an additional 227,204 shares in the last quarter. Discerene Group LP increased its stake in Sabre by 19.0% during the 1st quarter. Discerene Group LP now owns 19,231,613 shares of the information technology services provider’s stock worth $46,541,000 after buying an additional 3,064,588 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Sabre by 4.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,546,160 shares of the information technology services provider’s stock worth $24,403,000 after buying an additional 250,796 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Sabre by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,115,032 shares of the information technology services provider’s stock valued at $22,506,000 after buying an additional 50,597 shares during the period. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Sabre Company Profile

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.