Discerene Group LP Raises Holdings in Sabre Corporation $SABR

Key Points

• Discerene Group LP raised its stake in Sabre by 34.5% to 28,565,608 shares, owning roughly 7.23% of the company and making Sabre its 7th-largest holding (about 4.5% of Discerene’s portfolio).
• Other institutional investors also increased positions—Par Capital (+57.7%) and U S Global Investors (+54%) among them—and institutional ownership of Sabre stands at about 89.42%.
• Analyst sentiment is weak (average rating: "Reduce", $2.35 target) while Sabre trades at $1.59 (market cap ~$628M); the company recently beat quarterly estimates with EPS of -$0.01 versus -$0.07 and revenue of $666.5M.

Discerene Group LP raised its stake in Sabre Corporation (NASDAQ:SABR - Free Report) by 34.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,565,608 shares of the information technology services provider's stock after purchasing an additional 7,323,272 shares during the period. Sabre accounts for approximately 4.5% of Discerene Group LP's investment portfolio, making the stock its 7th largest holding. Discerene Group LP owned about 7.23% of Sabre worth $52,275,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SABR. Par Capital Management Inc. boosted its holdings in shares of Sabre by 57.7% in the 2nd quarter. Par Capital Management Inc. now owns 19,350,000 shares of the information technology services provider's stock valued at $61,146,000 after buying an additional 7,082,948 shares in the last quarter. U S Global Investors Inc. raised its stake in shares of Sabre by 54.0% during the 3rd quarter. U S Global Investors Inc. now owns 8,696,449 shares of the information technology services provider's stock worth $15,915,000 after acquiring an additional 3,049,688 shares in the last quarter. Simcoe Capital Management LLC bought a new position in shares of Sabre during the 2nd quarter worth approximately $7,649,000. Third Point LLC purchased a new stake in Sabre during the second quarter valued at approximately $2,370,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Sabre by 19.6% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,877,107 shares of the information technology services provider's stock valued at $12,252,000 after acquiring an additional 636,569 shares during the last quarter. 89.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SABR has been the topic of several analyst reports. Zacks Research raised shares of Sabre from a "strong sell" rating to a "hold" rating in a report on Wednesday, February 11th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Sabre in a report on Monday, December 29th. Sanford C. Bernstein reissued a "market perform" rating and issued a $1.50 price objective on shares of Sabre in a research report on Tuesday. Cantor Fitzgerald restated a "neutral" rating and set a $2.00 target price on shares of Sabre in a research note on Thursday, February 19th. Finally, Wall Street Zen lowered Sabre from a "hold" rating to a "sell" rating in a research report on Saturday, November 8th. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $2.35.

Sabre Price Performance

NASDAQ SABR opened at $1.59 on Friday. The company has a market cap of $628.32 million, a price-to-earnings ratio of 1.37 and a beta of 1.02. The stock's fifty day moving average price is $1.26 and its 200 day moving average price is $1.58. Sabre Corporation has a 1 year low of $0.81 and a 1 year high of $4.01.

Sabre (NASDAQ:SABR - Get Free Report) last issued its quarterly earnings results on Wednesday, February 18th. The information technology services provider reported ($0.01) EPS for the quarter, topping analysts' consensus estimates of ($0.07) by $0.06. The firm had revenue of $666.53 million for the quarter, compared to analyst estimates of $654.08 million. Research analysts expect that Sabre Corporation will post 0.04 earnings per share for the current year.

Sabre 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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