BlackRock Inc. Takes $114.42 Million Position in Sabre Corporation $SABR

Key Points

• BlackRock acquired 54.75 million Sabre shares worth approximately $114.4 million, giving it a 13.85% stake. Institutional investors collectively own 89.42% of the company.
• Sabre reported quarterly revenue of $711.96 million, above expectations, but its loss of $0.17 per share missed estimates by $0.13. Analysts expect a full-year loss of $0.16 per share.
• SABR recently traded at $2.20, near its 52-week high, while analysts maintain a consensus “Hold” rating with a $1.75 price target.

BlackRock Inc. bought a new position in shares of Sabre Corporation (NASDAQ:SABR - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 54,748,696 shares of the information technology services provider's stock, valued at approximately $114,425,000. BlackRock Inc. owned 13.85% of Sabre at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC boosted its stake in Sabre by 22.6% during the second quarter. Cerity Partners LLC now owns 30,462 shares of the information technology services provider's stock worth $96,000 after acquiring an additional 5,617 shares in the last quarter. Captrust Financial Advisors increased its position in Sabre by 17.8% in the 2nd quarter. Captrust Financial Advisors now owns 54,707 shares of the information technology services provider's stock valued at $173,000 after buying an additional 8,262 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Sabre by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 227,323 shares of the information technology services provider's stock valued at $639,000 after buying an additional 9,923 shares in the last quarter. Empowered Funds LLC raised its stake in Sabre by 12.9% during the 1st quarter. Empowered Funds LLC now owns 91,891 shares of the information technology services provider's stock worth $258,000 after buying an additional 10,530 shares during the period. Finally, Wells Fargo & Company MN raised its stake in Sabre by 0.9% during the 4th quarter. Wells Fargo & Company MN now owns 1,157,394 shares of the information technology services provider's stock worth $1,574,000 after buying an additional 10,742 shares during the period. 89.42% of the stock is owned by institutional investors and hedge funds.

Sabre Price Performance

SABR opened at $2.20 on Friday. Sabre Corporation has a fifty-two week low of $0.81 and a fifty-two week high of $2.30. The firm has a market capitalization of $887.88 million, a P/E ratio of 1.33 and a beta of 0.97. The company's 50-day moving average is $1.98 and its 200 day moving average is $1.71.

Sabre (NASDAQ:SABR - Get Free Report) last announced its earnings results on Thursday, August 6th. The information technology services provider reported ($0.17) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.13). The firm had revenue of $711.96 million during the quarter, compared to analysts' expectations of $697.40 million. On average, equities research analysts expect that Sabre Corporation will post -0.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SABR has been the subject of a number of research reports. Citigroup reissued a "buy" rating on shares of Sabre in a research note on Thursday. Weiss Ratings lowered Sabre from a "hold (c-)" rating to a "sell (d+)" rating in a research 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $1.75.

Sabre Company Profile

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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