Public Sector Pension Investment Board Increases Position in Sabre Corporation $SABR
Key Points
- The Public Sector Pension Investment Board increased its holdings in Sabre Corporation by 27.3% in Q1, now owning approximately 1,223,649 shares worth about $3.4 million.
- Several investment firms have changed their ratings on Sabre, with Rothschild & Co Redburn reducing it from "buy" to "neutral" and cutting the target price to $2.40.
- Sabre reported a loss of $0.02 per share for its latest quarter with revenue of $687.15 million, falling short of analysts' expectations of $718.16 million.
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Public Sector Pension Investment Board lifted its holdings in Sabre Corporation (NASDAQ:SABR - Free Report) by 27.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,223,649 shares of the information technology services provider's stock after purchasing an additional 262,360 shares during the period. Public Sector Pension Investment Board owned about 0.32% of Sabre worth $3,438,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. Sterling Capital Management LLC increased its stake in Sabre by 744.8% during the 4th quarter. Sterling Capital Management LLC now owns 9,589 shares of the information technology services provider's stock worth $35,000 after buying an additional 8,454 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in Sabre during the 1st quarter worth approximately $28,000. Blueshift Asset Management LLC purchased a new stake in Sabre during the 1st quarter worth approximately $31,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Sabre during the 4th quarter worth approximately $45,000. Finally, Abacus Planning Group Inc. acquired a new position in shares of Sabre during the 1st quarter worth approximately $38,000. 89.42% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages have recently weighed in on SABR. Rothschild & Co Redburn cut Sabre from a "buy" rating to a "neutral" rating and set a $2.40 target price on the stock. in a report on Friday. Morgan Stanley restated a "reduce" rating on shares of Sabre in a report on Sunday, August 10th. Finally, Sanford C. Bernstein upgraded Sabre from a "market perform" rating to an "outperform" rating and lowered their target price for the stock from $4.00 to $3.00 in a report on Monday, August 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $3.80.
Sabre Stock Performance
SABR opened at $1.80 on Tuesday. Sabre Corporation has a one year low of $1.73 and a one year high of $4.63. The stock has a market capitalization of $710.12 million, a PE ratio of -1.98 and a beta of 1.47. The business's 50 day moving average price is $2.86 and its 200 day moving average price is $2.93.
Sabre (NASDAQ:SABR - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The information technology services provider reported ($0.02) EPS for the quarter. The company had revenue of $687.15 million during the quarter, compared to analysts' expectations of $718.16 million. During the same quarter in the previous year, the company earned ($0.05) EPS. The business's revenue was down 1.1% compared to the same quarter last year. As a group, equities research analysts forecast that Sabre Corporation will post 0.04 earnings per share for the current fiscal year.
Sabre 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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