Sabre (NASDAQ:SABR) Shares Gap Down - Here's What Happened

Sabre Co. (NASDAQ:SABR - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $3.79, but opened at $3.57. Sabre shares last traded at $3.41, with a volume of 974,451 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SABR. Sanford C. Bernstein reaffirmed an "underperform" rating and issued a $3.00 target price on shares of Sabre in a report on Tuesday. StockNews.com cut shares of Sabre from a "buy" rating to a "hold" rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $3.50.

Sabre Price Performance

The business has a 50-day moving average of $3.47 and a 200-day moving average of $3.14. The company has a market capitalization of $1.36 billion, a P/E ratio of -4.24 and a beta of 1.74.

Sabre (NASDAQ:SABR - Get Free Report) last released its earnings results on Thursday, October 31st. The information technology services provider reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.01. The business had revenue of $764.71 million during the quarter, compared to analysts' expectations of $774.53 million. During the same quarter in the previous year, the business earned ($0.10) EPS. The business's revenue for the quarter was up 3.3% on a year-over-year basis. Sell-side analysts predict that Sabre Co. will post -0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Sabre

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Sabre by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 42,322,231 shares of the information technology services provider's stock valued at $102,420,000 after acquiring an additional 678,588 shares during the period. Earnest Partners LLC lifted its holdings in shares of Sabre by 62.6% during the second quarter. Earnest Partners LLC now owns 33,353,912 shares of the information technology services provider's stock worth $89,055,000 after purchasing an additional 12,838,230 shares during the period. State Street Corp boosted its position in Sabre by 1.0% in the third quarter. State Street Corp now owns 14,018,002 shares of the information technology services provider's stock valued at $51,446,000 after buying an additional 140,218 shares during the last quarter. Erste Asset Management GmbH acquired a new position in Sabre in the 3rd quarter worth approximately $36,185,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Sabre by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 9,081,259 shares of the information technology services provider's stock valued at $33,335,000 after acquiring an additional 145,383 shares during the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

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.

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