Sabre (NASDAQ:SABR) Hits New 1-Year High – Here’s What Happened

Sabre Corporation (NASDAQ:SABR) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $2.30 and last traded at $2.2550, with a volume of 340922 shares trading hands. The stock had previously closed at $2.26.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Sabre from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Sabre currently has a consensus rating of “Reduce” and a consensus price target of $1.75.

Sabre Stock Performance

The stock has a 50-day simple moving average of $1.96 and a two-hundred day simple moving average of $1.70. The firm has a market cap of $879.80 million, a PE ratio of 1.32 and a beta of 0.97.

Sabre (NASDAQ:SABR) last posted its earnings results on Thursday, August 6th. The information technology services provider reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.13). The business had revenue of $711.96 million for the quarter, compared to analyst estimates of $697.40 million. As a group, sell-side analysts anticipate that Sabre Corporation will post -0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Sabre

A number of large investors have recently added to or reduced their stakes in SABR. DGS Capital Management LLC bought a new position in shares of Sabre during the 1st quarter valued at $25,000. Wealthspire Retirement LLC bought a new stake in shares of Sabre in the first quarter worth $25,000. Vise Technologies Inc. purchased a new stake in Sabre during the second quarter valued at $30,000. Allworth Financial LP purchased a new stake in Sabre during the second quarter valued at $31,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in Sabre in the second quarter valued at about $32,000. Institutional investors own 89.42% of the company’s stock.

Sabre Company Profile

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.