Bank of New York Mellon Corp Sells 116,316 Shares of Sabre Corporation (NASDAQ:SABR)

Bank of New York Mellon Corp reduced its position in Sabre Corporation (NASDAQ:SABR - Free Report) by 4.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,745,712 shares of the information technology services provider's stock after selling 116,316 shares during the period. Bank of New York Mellon Corp owned about 0.71% of Sabre worth $7,715,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in SABR. Fifth Third Wealth Advisors LLC purchased a new position in Sabre in the 1st quarter worth approximately $28,000. Sterling Capital Management LLC raised its holdings in Sabre by 744.8% in the 4th quarter. Sterling Capital Management LLC now owns 9,589 shares of the information technology services provider's stock worth $35,000 after acquiring an additional 8,454 shares during the last quarter. Abacus Planning Group Inc. purchased a new position in Sabre in the 1st quarter worth approximately $38,000. Mercer Global Advisors Inc. ADV purchased a new position in Sabre in the 4th quarter worth approximately $45,000. Finally, Caxton Associates LP purchased a new position in Sabre in the 4th quarter worth approximately $94,000. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Sabre Trading Down 0.3%

NASDAQ:SABR traded down $0.01 during trading hours on Friday, reaching $3.15. The company had a trading volume of 2,862,390 shares, compared to its average volume of 4,010,937. Sabre Corporation has a 52 week low of $1.93 and a 52 week high of $4.63. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -7.16 and a beta of 1.43. The firm's 50 day moving average price is $2.92 and its 200-day moving average price is $3.03.

Sabre (NASDAQ:SABR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.01 by ($0.03). The firm had revenue of $776.62 million for the quarter, compared to analysts' expectations of $794.65 million. During the same period last year, the firm posted ($0.02) earnings per share. Sabre's revenue for the quarter was down .8% on a year-over-year basis. On average, analysts forecast that Sabre Corporation will post 0.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SABR has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price objective on shares of Sabre from $5.00 to $3.50 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Sabre in a research report on Monday, July 14th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $4.28.

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.