Deutsche Bank AG Sells 1,847,867 Shares of 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 cut its holdings in Sabre Corporation (NASDAQ:SABR - Free Report) by 79.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor 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 approximately 0.12% of Sabre worth $1,351,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Sabre by 2.3% in the first quarter. Vanguard Group Inc. now owns 41,795,327 shares of the information technology services provider's stock valued at $117,445,000 after acquiring an additional 936,578 shares in the last quarter. Bank of Nova Scotia acquired a new position in shares of Sabre in the first quarter valued at about $39,000. PNC Financial Services Group Inc. grew its stake in shares of Sabre by 40.1% in the first quarter. PNC Financial Services Group Inc. now owns 35,667 shares of the information technology services provider's stock valued at $100,000 after acquiring an additional 10,204 shares in the last quarter. Blueshift Asset Management LLC acquired a new position in shares of Sabre in the first quarter valued at about $31,000. Finally, XTX Topco Ltd acquired a new position in shares of Sabre in the first quarter valued at about $126,000. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Sabre Price Performance

Shares of SABR stock remained flat at $1.79 on Friday. 3,660,262 shares of the stock were exchanged, compared to its average volume of 12,461,584. The firm has a market capitalization of $706.17 million, a PE ratio of -1.97 and a beta of 1.47. Sabre Corporation has a 52-week low of $1.71 and a 52-week high of $4.63. The firm has a 50 day simple moving average of $2.69 and a 200-day simple moving average of $2.83.

Sabre (NASDAQ:SABR - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The information technology services provider reported ($0.02) earnings per share (EPS) for the quarter. The company had revenue of $687.15 million for the quarter, compared to analyst estimates of $718.16 million. Sabre's revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.05) EPS. On average, sell-side analysts forecast that Sabre Corporation will post 0.04 earnings per share for the current year.

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.