Sabre Co. (NASDAQ:SABR) CEO Kurt Joseph Ekert Acquires 65,000 Shares of Stock

Sabre Co. (NASDAQ:SABR) CEO Kurt Joseph Ekert bought 65,000 shares of Sabre stock in a transaction dated Wednesday, May 8th. The stock was purchased at an average price of $2.57 per share, with a total value of $167,050.00. Following the purchase, the chief executive officer now directly owns 1,155,909 shares in the company, valued at approximately $2,970,686.13. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Sabre Price Performance

NASDAQ:SABR traded up $0.09 on Friday, reaching $2.89. The stock had a trading volume of 728,988 shares, compared to its average volume of 5,428,296. Sabre Co. has a 12-month low of $1.81 and a 12-month high of $5.76. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -1.93 and a beta of 1.69. The firm’s fifty day moving average is $2.48 and its two-hundred day moving average is $3.40.

Sabre (NASDAQ:SABR) last released its earnings results on Thursday, February 15th. The information technology services provider reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The business had revenue of $687.05 million for the quarter, compared to analysts’ expectations of $707.89 million. As a group, research analysts forecast that Sabre Co. will post -0.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sabre

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Sabre by 10.1% during the third quarter. Vanguard Group Inc. now owns 39,911,130 shares of the information technology services provider’s stock worth $179,201,000 after acquiring an additional 3,665,465 shares during the last quarter. Norges Bank acquired a new stake in Sabre during the 4th quarter worth approximately $9,139,000. Goldman Sachs Group Inc. raised its holdings in Sabre by 89.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,727,334 shares of the information technology services provider’s stock valued at $16,400,000 after buying an additional 1,761,499 shares during the period. Partnership Wealth Management LLC acquired a new position in Sabre during the fourth quarter valued at approximately $3,586,000. Finally, ARGA Investment Management LP grew its stake in Sabre by 114.8% during the fourth quarter. ARGA Investment Management LP now owns 1,284,656 shares of the information technology services provider’s stock worth $5,652,000 after buying an additional 686,620 shares during the period. 89.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SABR. Mizuho lowered their price objective on Sabre from $4.00 to $3.00 and set a “neutral” rating on the stock in a report on Monday, March 4th. Bank of America reduced their target price on Sabre from $4.50 to $3.00 and set a “neutral” rating for the company in a report on Monday, April 15th. Cantor Fitzgerald initiated coverage on shares of Sabre in a research report on Wednesday, February 21st. They set an “overweight” rating and a $5.00 target price on the stock. Finally, StockNews.com cut Sabre from a “buy” rating to a “hold” rating in a report on Friday, April 5th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Sabre has an average rating of “Hold” and an average target price of $4.00.

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.