Sabre Co. (NASDAQ:SABR – Get Rating)’s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $3.00 and last traded at $3.01, with a volume of 585258 shares trading hands. The stock had previously closed at $3.09.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the stock. Sanford C. Bernstein upgraded shares of Sabre from an “underperform” rating to a “market perform” rating and set a $3.50 price target on the stock in a research note on Monday, May 15th. Mizuho cut their price target on shares of Sabre from $6.00 to $4.00 and set a “neutral” rating on the stock in a research note on Monday, April 17th. Bank of America cut their price target on shares of Sabre from $6.00 to $5.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 4th. Finally, StockNews.com started coverage on shares of Sabre in a report on Thursday, May 18th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Sabre has a consensus rating of “Hold” and a consensus price target of $4.75.
Sabre Stock Performance
The firm’s fifty day moving average price is $3.54 and its 200 day moving average price is $4.90. The firm has a market capitalization of $1.03 billion, a PE ratio of -1.68 and a beta of 1.81.
Institutional Trading of Sabre
Hedge funds have recently added to or reduced their stakes in the company. Twinbeech Capital LP purchased a new stake in Sabre during the third quarter worth $957,000. Verition Fund Management LLC boosted its holdings in Sabre by 77.0% during the third quarter. Verition Fund Management LLC now owns 293,870 shares of the information technology services provider’s stock worth $1,513,000 after buying an additional 127,878 shares in the last quarter. Bank of New York Mellon Corp raised its position in Sabre by 0.3% during the third quarter. Bank of New York Mellon Corp now owns 3,219,000 shares of the information technology services provider’s stock worth $16,578,000 after acquiring an additional 10,790 shares during the period. Oxinas Partners Wealth Management LLC raised its position in Sabre by 159.9% during the first quarter. Oxinas Partners Wealth Management LLC now owns 373,830 shares of the information technology services provider’s stock worth $1,604,000 after acquiring an additional 229,990 shares during the period. Finally, Quantamental Technologies LLC raised its position in Sabre by 140.8% during the third quarter. Quantamental Technologies LLC now owns 48,910 shares of the information technology services provider’s stock worth $252,000 after acquiring an additional 28,598 shares during the period.
Sabre Company Profile
Sabre Corporation, through its subsidiaries, provides software and technology solutions for the travel industry worldwide. It operates in 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.
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