Deutsche Bank AG Trims Stake in Sabre Corporation $SABR

Key Points

• Deutsche Bank AG decreased its stake in Sabre Corporation by 79.4%, owning approximately 480,777 shares worth $1.35 million after selling over 1.8 million shares in the first quarter.
• Several other institutional investors have also entered new positions in Sabre, with 89.42% of the stock now owned by hedge funds and institutions.
• Sabre reported earnings of ($0.02) per share for the last quarter, missing analyst expectations, and its revenue decreased by 1.1% compared to the same quarter last year.

Deutsche Bank AG reduced its holdings in shares of Sabre Corporation (NASDAQ:SABR - Free Report) by 79.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 480,777 shares of the information technology services provider's stock after selling 1,847,867 shares during the period. Deutsche Bank AG owned about 0.12% of Sabre worth $1,351,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC purchased a new stake in Sabre during the first quarter valued at approximately $28,000. Blueshift Asset Management LLC purchased a new stake in Sabre during the first quarter valued at approximately $31,000. Abacus Planning Group Inc. purchased a new stake in Sabre during the first quarter valued at approximately $38,000. Bank of Nova Scotia purchased a new stake in Sabre during the first quarter valued at approximately $39,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in Sabre during the fourth quarter valued at approximately $45,000. 89.42% of the stock is owned by hedge funds and other institutional investors.

Sabre Stock Performance

Shares of NASDAQ:SABR opened at $1.79 on Friday. The firm has a fifty day moving average price of $2.78 and a 200 day moving average price of $2.89. Sabre Corporation has a fifty-two week low of $1.73 and a fifty-two week high of $4.63. The firm has a market cap of $706.17 million, a price-to-earnings ratio of -1.97 and a beta of 1.47.

Sabre (NASDAQ:SABR - Get Free Report) last issued its earnings results on Thursday, August 7th. The information technology services provider reported ($0.02) earnings per share for the quarter. The company had revenue of $687.15 million for the quarter, compared to analysts' expectations of $718.16 million. During the same period last year, the company posted ($0.05) EPS. The business's revenue was down 1.1% compared to the same quarter last year. As a group, research analysts predict that Sabre Corporation will post 0.04 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SABR shares. Rothschild & Co Redburn lowered shares of Sabre from a "buy" rating to a "neutral" rating and set a $2.40 price target for the company. in a research report on Friday, August 15th. Sanford C. Bernstein upgraded shares of Sabre from a "market perform" rating to an "outperform" rating and dropped their price target for the stock from $4.00 to $3.00 in a research report on Monday, August 11th. Redburn Atlantic lowered shares of Sabre from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th. Finally, Morgan Stanley reiterated a "reduce" rating on shares of Sabre in a research report on Sunday, August 10th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $3.80.

About Sabre

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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