Insider Buying: Sabre Co. (NASDAQ:SABR) CEO Buys 65,000 Shares of Stock

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

Sabre Stock Up 6.1 %

Shares of NASDAQ SABR traded up $0.16 during mid-day trading on Thursday, reaching $2.80. 6,433,588 shares of the company were exchanged, compared to its average volume of 5,483,022. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -1.95 and a beta of 1.69. Sabre Co. has a 1 year low of $1.81 and a 1 year high of $5.76. The firm has a 50-day moving average of $2.47 and a 200 day moving average of $3.41.

Sabre (NASDAQ:SABR) last issued its quarterly earnings data on Thursday, February 15th. The information technology services provider reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The company had revenue of $687.05 million during the quarter, compared to analysts’ expectations of $707.89 million. On average, equities analysts forecast that Sabre Co. will post -0.21 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SABR. Vanguard Group Inc. increased its position in Sabre by 10.1% during the 3rd quarter. Vanguard Group Inc. now owns 39,911,130 shares of the information technology services provider’s stock valued at $179,201,000 after buying an additional 3,665,465 shares in the last quarter. Norges Bank acquired a new position in Sabre during the 4th quarter valued at about $9,139,000. Goldman Sachs Group Inc. increased its position in Sabre by 89.6% during the 4th 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 in the last quarter. Partnership Wealth Management LLC acquired a new position in Sabre during the 4th quarter valued at about $3,586,000. Finally, ARGA Investment Management LP increased its position in Sabre by 114.8% during the 4th quarter. ARGA Investment Management LP now owns 1,284,656 shares of the information technology services provider’s stock valued at $5,652,000 after buying an additional 686,620 shares in the last quarter. 89.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SABR has been the subject of several research reports. Cantor Fitzgerald initiated coverage on Sabre in a report on Wednesday, February 21st. They issued an “overweight” rating and a $5.00 target price for the company. Mizuho lowered their target price on Sabre from $4.00 to $3.00 and set a “neutral” rating for the company in a report on Monday, March 4th. StockNews.com cut Sabre from a “buy” rating to a “hold” rating in a report on Friday, April 5th. Finally, Bank of America lowered 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. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target 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.