Stock Traders Buy High Volume of Sabre Put Options (NASDAQ:SABR)

Posted by on Jul 13th, 2023

Sabre Co. (NASDAQ:SABR – Get Free Report) was the target of unusually large options trading activity on Wednesday. Investors acquired 20,288 put options on the stock. This represents an increase of approximately 240% compared to the typical volume of 5,968 put options.

Sabre Price Performance

Sabre stock opened at $3.85 on Thursday. The firm has a 50 day simple moving average of $3.40 and a 200-day simple moving average of $4.65. The stock has a market capitalization of $1.28 billion, a PE ratio of -2.09 and a beta of 1.79. Sabre has a 12-month low of $2.99 and a 12-month high of $8.31.

Sabre (NASDAQ:SABR – Get Free Report) last issued its quarterly earnings results on Thursday, May 4th. The information technology services provider reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.06. The firm had revenue of $742.70 million during the quarter, compared to analysts’ expectations of $727.68 million. On average, analysts forecast that Sabre will post -0.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SABR. StockNews.com assumed coverage on shares of Sabre in a report on Thursday, May 18th. They set a “hold” rating for the company. Sanford C. Bernstein raised shares of Sabre from an “underperform” rating to a “market perform” rating and set a $3.50 target price on the stock in a research note on Monday, May 15th. Mizuho cut their target price 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. Finally, Bank of America dropped 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Sabre presently has an average rating of “Hold” and a consensus target price of $4.75.

Institutional Trading of Sabre

Institutional investors and hedge funds have recently modified their holdings of the company. First Bank & Trust acquired a new stake in shares of Sabre during the 2nd quarter worth about $91,000. Apollo Management Holdings L.P. acquired a new stake in shares of Sabre in the first quarter valued at approximately $61,780,000. First Trust Advisors LP increased its holdings in Sabre by 175.4% during the first quarter. First Trust Advisors LP now owns 562,842 shares of the information technology services provider’s stock worth $2,415,000 after buying an additional 358,472 shares during the last quarter. Geode Capital Management LLC increased its holdings in Sabre by 4.6% during the first quarter. Geode Capital Management LLC now owns 6,374,709 shares of the information technology services provider’s stock worth $27,348,000 after buying an additional 278,109 shares during the last quarter. Finally, Glenview Capital Management LLC increased its holdings in Sabre by 93.6% during the first quarter. Glenview Capital Management LLC now owns 2,200,398 shares of the information technology services provider’s stock worth $9,440,000 after buying an additional 1,063,680 shares during the last quarter.

About Sabre

(Get Free Report)

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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