Sabre (NASDAQ:SABR) Stock Price Down 3.6% - Here's What Happened

Shares of Sabre Co. (NASDAQ:SABR - Get Free Report) dropped 3.6% on Tuesday . The company traded as low as $3.40 and last traded at $3.39. Approximately 290,685 shares traded hands during trading, a decline of 93% from the average daily volume of 4,005,148 shares. The stock had previously closed at $3.51.

Analysts Set New Price Targets

Several research firms have recently issued reports on SABR. StockNews.com upgraded shares of Sabre from a "hold" rating to a "buy" rating in a report on Friday, February 21st. Bank of America upgraded Sabre from a "neutral" rating to a "buy" rating and boosted their target price for the company from $4.50 to $6.10 in a research report on Tuesday, March 4th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $4.00 target price on shares of Sabre in a research note on Friday, February 21st.

Sabre Stock Down 6.4 %

The company's 50 day moving average price is $3.58 and its two-hundred day moving average price is $3.58. The stock has a market cap of $1.18 billion, a P/E ratio of -4.25, a P/E/G ratio of 2.43 and a beta of 1.62.

Sabre (NASDAQ:SABR - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The information technology services provider reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The company had revenue of $714.72 million during the quarter, compared to analysts' expectations of $716.60 million. As a group, equities research analysts forecast that Sabre Co. will post 0.04 earnings per share for the current year.

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Hedge Funds Weigh In On Sabre

A number of large investors have recently bought and sold shares of the business. FMR LLC lifted its position in shares of Sabre by 24.5% during the third quarter. FMR LLC now owns 15,849 shares of the information technology services provider's stock valued at $58,000 after buying an additional 3,116 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of Sabre by 8.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 39,995 shares of the information technology services provider's stock valued at $146,000 after purchasing an additional 3,142 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Sabre by 5.9% in the 4th quarter. Hsbc Holdings PLC now owns 57,426 shares of the information technology services provider's stock worth $209,000 after purchasing an additional 3,195 shares in the last quarter. Xponance Inc. grew its stake in Sabre by 22.1% during the 4th quarter. Xponance Inc. now owns 29,770 shares of the information technology services provider's stock worth $109,000 after buying an additional 5,395 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Sabre by 173.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 9,935 shares of the information technology services provider's stock valued at $36,000 after buying an additional 6,298 shares in the last quarter. Institutional investors 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.