Bank of New York Mellon Corp Takes Position in Sabre Corporation $SABR

Key Points

• Bank of New York Mellon purchased 2,001,780 Sabre shares worth approximately $4.18 million, giving it a 0.51% stake. Institutional investors collectively own 89.42% of the company.
• Analyst sentiment is mixed, with one Buy, three Hold, and one Sell rating; the consensus rating is Hold with a target price of $1.75.
• Sabre shares opened at $2.13, near their 12-month high of $2.30. The company reported quarterly revenue above estimates but posted an EPS loss of $0.17, missing the expected loss of $0.04.

Bank of New York Mellon Corp purchased a new stake in shares of Sabre Corporation (NASDAQ:SABR - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,001,780 shares of the information technology services provider's stock, valued at approximately $4,184,000. Bank of New York Mellon Corp owned about 0.51% of Sabre at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Mizuho Markets Americas LLC bought a new stake in Sabre in the fourth quarter worth about $2,720,000. Graham Capital Management L.P. purchased a new position in Sabre in the fourth quarter valued at about $6,054,000. Oppenheimer Asset Management Inc. purchased a new position in Sabre in the second quarter valued at about $815,000. Ampfield Management L.P. bought a new position in shares of Sabre during the 1st quarter valued at approximately $7,505,000. Finally, Discerene Group LP grew its position in shares of Sabre by 1.5% during the 1st quarter. Discerene Group LP now owns 39,093,531 shares of the information technology services provider's stock valued at $56,686,000 after acquiring an additional 569,711 shares during the period. 89.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on SABR. Citigroup reaffirmed a "buy" rating on shares of Sabre in a report on Thursday, August 27th. Weiss Ratings lowered Sabre from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $1.75.

Sabre Stock Up 3.4%

SABR opened at $2.13 on Friday. The company has a market capitalization of $859.63 million, a price-to-earnings ratio of 1.29 and a beta of 1.00. The firm has a 50-day moving average price of $2.00 and a 200-day moving average price of $1.75. Sabre Corporation has a twelve month low of $0.81 and a twelve month high of $2.30.

Sabre (NASDAQ:SABR - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The information technology services provider reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.13). The firm had revenue of $711.96 million for the quarter, compared to the consensus estimate of $697.40 million. On average, sell-side analysts expect that Sabre Corporation will post -0.21 earnings per share for the current fiscal year.

About Sabre

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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