Sabre (NASDAQ:SABR) Shares Gap Up on Strong Earnings

Sabre Corporation (NASDAQ:SABR)’s share price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $1.74, but opened at $1.98. Sabre shares last traded at $1.6940, with a volume of 993,275 shares.

The information technology services provider reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.09. The firm had revenue of $738.43 million for the quarter, compared to the consensus estimate of $731.81 million.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Zacks Research lowered Sabre from a “hold” rating to a “strong sell” rating in a research note on Monday, October 26th. Weiss Ratings downgraded shares of Sabre from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. Finally, Citigroup reiterated a “buy” rating on shares of Sabre in a research note on Thursday, August 27th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Sabre currently has an average rating of “Reduce” and a consensus target price of $1.75.

Institutional Investors Weigh In On Sabre

A number of institutional investors have recently added to or reduced their stakes in SABR. StoneX Group Inc. acquired a new position in shares of Sabre in the 3rd quarter worth approximately $33,000. Abacus Wealth Partners LLC lifted its position in shares of Sabre by 739.9% during the 3rd quarter. Abacus Wealth Partners LLC now owns 113,932 shares of the information technology services provider’s stock worth $242,000 after buying an additional 100,367 shares during the period. Hikari Power Ltd acquired a new stake in Sabre in the 3rd quarter valued at $129,000. Sequoia Financial Advisors LLC acquired a new stake in Sabre in the 2nd quarter valued at $69,000. Finally, Engineers Gate Manager LP bought a new stake in Sabre in the second quarter valued at $31,000. 89.42% of the stock is owned by institutional investors and hedge funds.

Sabre Stock Down 2.2%

The business has a 50-day simple moving average of $1.96 and a two-hundred day simple moving average of $1.74. The stock has a market capitalization of $686.89 million, a P/E ratio of 1.03 and a beta of 1.18.

About Sabre

Sabre Corporation is a travel technology company that provides software, data, and marketplace services to airlines, hotels, travel agencies, corporations, and other participants in the global travel industry. Its platforms help customers search, shop, price, book, and manage travel content across air, lodging, and other travel products.

The company’s offerings include global distribution and travel marketplace capabilities, application programming interfaces, and tools such as the Sabre Red suite for travel agencies and travel sellers.