Sabre (NASDAQ:SABR) Shares Up 3.5%

Sabre Co. (NASDAQ:SABR) shot up 3.5% during mid-day trading on Wednesday . The company traded as high as $2.64 and last traded at $2.64. 217,680 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 5,419,913 shares. The stock had previously closed at $2.55.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SABR. StockNews.com downgraded Sabre from a “buy” rating to a “hold” rating in a report on Friday, April 5th. Cantor Fitzgerald began coverage on Sabre in a report on Wednesday, February 21st. They set an “overweight” rating and a $5.00 price target on the stock. Mizuho lowered their price target on Sabre from $4.00 to $3.00 and set a “neutral” rating on the stock in a report on Monday, March 4th. Finally, Bank of America lowered their target price on Sabre from $4.50 to $3.00 and set a “neutral” rating on the stock in a research note on Monday. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Sabre presently has a consensus rating of “Hold” and an average price target of $4.00.

Sabre Stock Down 1.5 %

The firm has a fifty day simple moving average of $2.65 and a 200 day simple moving average of $3.53.

Sabre (NASDAQ:SABR) last posted its quarterly earnings results on Thursday, February 15th. The information technology services provider reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The business had revenue of $687.05 million during the quarter, compared to analysts’ expectations of $707.89 million. Equities research analysts expect that Sabre Co. will post -0.21 earnings per share for the current year.

Institutional Investors Weigh In On Sabre

Several large investors have recently modified their holdings of SABR. Apollo Management Holdings L.P. bought a new stake in shares of Sabre in the 1st quarter valued at approximately $61,780,000. Deutsche Bank AG grew its stake in shares of Sabre by 2,645.0% in the 1st quarter. Deutsche Bank AG now owns 4,240,732 shares of the information technology services provider’s stock valued at $18,193,000 after purchasing an additional 4,086,244 shares during the period. Vanguard Group Inc. grew its stake in shares of Sabre by 10.1% in the 3rd quarter. Vanguard Group Inc. now owns 39,911,130 shares of the information technology services provider’s stock valued at $179,201,000 after purchasing an additional 3,665,465 shares during the period. Morgan Stanley grew its stake in shares of Sabre by 139.3% in the 4th quarter. Morgan Stanley now owns 5,045,079 shares of the information technology services provider’s stock valued at $31,179,000 after purchasing an additional 2,936,382 shares during the period. Finally, Marshall Wace LLP grew its stake in shares of Sabre by 523.7% in the 2nd quarter. Marshall Wace LLP now owns 3,487,290 shares of the information technology services provider’s stock valued at $11,124,000 after purchasing an additional 2,928,138 shares during the period. 89.42% of the stock is currently owned by institutional investors.

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.