Sabre (NASDAQ:SABR) Trading 7.8% Higher - Here's What Happened

Key Points

• Sabre shares rose 7.8% to approximately $1.995, although trading volume was 92% below the average session volume.
• Weiss Ratings upgraded Sabre from “sell” to “hold.” Analysts maintain an overall “Reduce” rating, with a consensus price target of $1.97.
• Sabre exceeded quarterly expectations, reporting $0.06 EPS versus a projected $0.05 loss and revenue of $760.33 million versus estimates of $739.02 million. Institutional investors and hedge funds own 89.42% of the company.

Sabre Corporation (NASDAQ:SABR - Get Free Report)'s share price was up 7.8% on Monday . The stock traded as high as $2.05 and last traded at $1.9950. Approximately 620,275 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 7,390,159 shares. The stock had previously closed at $1.85.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Sabre from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, July 2nd. Five research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Sabre currently has an average rating of "Reduce" and a consensus target price of $1.97.

Sabre Stock Up 6.2%

The firm has a market cap of $776.79 million, a price-to-earnings ratio of 1.80 and a beta of 0.96. The company's 50-day moving average price is $1.82 and its 200-day moving average price is $1.59.

Sabre (NASDAQ:SABR - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.11. The firm had revenue of $760.33 million during the quarter, compared to analyst estimates of $739.02 million. Analysts predict that Sabre Corporation will post -0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sabre

Institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada lifted its position in Sabre by 46.9% during the first quarter. Royal Bank of Canada now owns 174,893 shares of the information technology services provider's stock worth $491,000 after buying an additional 55,840 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Sabre by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 227,323 shares of the information technology services provider's stock worth $639,000 after acquiring an additional 9,923 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Sabre during the 1st quarter worth $140,000. Jones Financial Companies Lllp raised its holdings in shares of Sabre by 265.7% during the 1st quarter. Jones Financial Companies Lllp now owns 286,802 shares of the information technology services provider's stock worth $806,000 after acquiring an additional 208,371 shares during the period. Finally, United Services Automobile Association acquired a new position in shares of Sabre during the 1st quarter valued at about $80,000. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Sabre Company Profile

Sabre Corporation is a leading travel technology company that provides software, data, mobile and distribution solutions to the global travel industry. Through its Sabre travel marketplace, the company operates one of the world's principal global distribution systems (GDS), connecting travel buyers and suppliers across airlines, hotels, car rental companies and other travel providers. Sabre's suite of products includes reservation and ticketing systems for travel agencies, comprehensive airline operations and passenger services solutions, as well as hospitality property management and central reservation systems for hotels.

Established in 1960 as a joint venture between American Airlines and IBM, Sabre introduced one of the first computerized airline reservation systems, pioneering the automation of ticketing and inventory control.

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