Sabre (NASDAQ:SABR) Shares Gap Down – What’s Next?

Sabre Co. (NASDAQ:SABR)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $3.79, but opened at $3.57. Sabre shares last traded at $3.41, with a volume of 974,451 shares.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SABR. StockNews.com cut Sabre from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $3.00 price target on shares of Sabre in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $3.50.

Sabre Stock Down 1.6 %

The company’s 50 day moving average is $3.50 and its 200-day moving average is $3.16.

Sabre (NASDAQ:SABR) last released its quarterly earnings data on Thursday, October 31st. The information technology services provider reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $764.71 million during the quarter, compared to analyst estimates of $774.53 million. During the same period in the previous year, the business earned ($0.10) earnings per share. The business’s quarterly revenue was up 3.3% on a year-over-year basis. Equities analysts predict that Sabre Co. will post -0.31 earnings per share for the current fiscal year.

Institutional Trading of Sabre

A number of hedge funds have recently modified their holdings of SABR. Fifth Third Wealth Advisors LLC bought a new position in Sabre in the 2nd quarter valued at about $26,000. Triangle Securities Wealth Management bought a new position in shares of Sabre during the second quarter worth approximately $29,000. Wellington Wealth Strategies LLC. acquired a new stake in Sabre during the 2nd quarter worth approximately $32,000. International Assets Investment Management LLC boosted its stake in Sabre by 267.0% in the 3rd quarter. International Assets Investment Management LLC now owns 9,047 shares of the information technology services provider’s stock valued at $33,000 after purchasing an additional 6,582 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in Sabre during the 2nd quarter worth $34,000. Institutional investors and hedge funds 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.