Sabre (NASDAQ:SABR) Shares Up 3.2% – What’s Next?

Sabre Co. (NASDAQ:SABR) rose 3.2% during mid-day trading on Friday . The company traded as high as $3.90 and last traded at $3.83. Approximately 731,206 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 4,375,151 shares. The stock had previously closed at $3.71.

Analysts Set New Price Targets

Separately, StockNews.com cut Sabre from a “buy” rating to a “hold” rating in a research note on Wednesday.

Sabre Trading Up 1.6 %

The stock has a market cap of $1.45 billion, a P/E ratio of -4.77 and a beta of 1.74. The business has a 50-day simple moving average of $3.47 and a 200 day simple moving average of $3.14.

Sabre (NASDAQ:SABR) last issued its quarterly earnings results on Thursday, October 31st. The information technology services provider reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $764.71 million for the quarter, compared to the consensus estimate of $774.53 million. The business’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company posted ($0.10) EPS. As a group, equities analysts expect that Sabre Co. will post -0.3 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SABR. Earnest Partners LLC lifted its position in shares of Sabre by 62.6% during the 2nd quarter. Earnest Partners LLC now owns 33,353,912 shares of the information technology services provider’s stock worth $89,055,000 after buying an additional 12,838,230 shares in the last quarter. Erste Asset Management GmbH bought a new stake in Sabre during the third quarter worth $36,185,000. Discerene Group LP lifted its holdings in Sabre by 19.0% during the first quarter. Discerene Group LP now owns 19,231,613 shares of the information technology services provider’s stock worth $46,541,000 after acquiring an additional 3,064,588 shares during the period. Tidal Investments LLC purchased a new position in Sabre in the first quarter worth $3,463,000. Finally, Beaconlight Capital LLC grew its stake in Sabre by 32.2% in the 3rd quarter. Beaconlight Capital LLC now owns 3,954,980 shares of the information technology services provider’s stock valued at $14,515,000 after purchasing an additional 962,665 shares during the period. Institutional investors and hedge funds own 89.42% of the company’s stock.

About Sabre

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.