Sabre (NASDAQ:SABR) Stock Price Down 8% - Here's What Happened

Sabre Co. (NASDAQ:SABR - Get Free Report)'s share price dropped 8% during mid-day trading on Monday . The stock traded as low as $2.82 and last traded at $2.82. Approximately 2,809,323 shares were traded during trading, a decline of 33% from the average daily volume of 4,183,422 shares. The stock had previously closed at $3.06.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Cantor Fitzgerald reissued a "neutral" rating and issued a $4.00 target price on shares of Sabre in a report on Friday, February 21st. StockNews.com upgraded shares of Sabre from a "hold" rating to a "buy" rating in a research note on Friday, February 21st. Bank of America upgraded Sabre from a "neutral" rating to a "buy" rating and raised their price objective for the company from $4.50 to $6.10 in a research report on Tuesday, March 4th. Finally, Sanford C. Bernstein raised Sabre from an "underperform" rating to a "market perform" rating and set a $3.50 target price on the stock in a report on Tuesday.

Sabre Stock Down 8.1 %

The stock has a market capitalization of $830.05 million, a PE ratio of -2.99, a price-to-earnings-growth ratio of 2.43 and a beta of 1.39. The business's fifty day moving average is $3.52 and its two-hundred day moving average is $3.57.

Sabre (NASDAQ:SABR - Get Free Report) last posted its earnings results on Thursday, February 20th. The information technology services provider reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.03). The firm had revenue of $714.72 million for the quarter, compared to analysts' expectations of $716.60 million. Sell-side analysts expect that Sabre Co. will post 0.04 EPS for the current fiscal year.

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Institutional Investors Weigh In On Sabre

Institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its position in Sabre by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,454,914 shares of the information technology services provider's stock worth $20,020,000 after buying an additional 39,509 shares during the last quarter. FMR LLC lifted its holdings in shares of Sabre by 24.5% in the 3rd quarter. FMR LLC now owns 15,849 shares of the information technology services provider's stock worth $58,000 after acquiring an additional 3,116 shares during the last quarter. Verition Fund Management LLC boosted its stake in shares of Sabre by 37.3% during the 3rd quarter. Verition Fund Management LLC now owns 189,924 shares of the information technology services provider's stock worth $697,000 after purchasing an additional 51,595 shares during the period. Paloma Partners Management Co bought a new position in Sabre during the 3rd quarter valued at about $54,000. Finally, Point72 Asset Management L.P. purchased a new stake in Sabre in the 3rd quarter worth about $367,000. 89.42% of the stock is owned by institutional investors.

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.