Sabre Corporation $SABR Shares Sold by Earnest Partners LLC

Key Points

• Earnest Partners LLC reduced its stake in Sabre Corporation by 7.5%, owning about 29.3 million shares valued at approximately $82.4 million at the end of the first quarter.
• Several institutional investors, including Mackenzie Financial Corp and Oppenheimer Asset Management Inc., increased their holdings in Sabre, illustrating mixed investor sentiment.
• Sabre's recent earnings report showed a revenue of $687.15 million, below the analysts' estimate, leading to a consensus rating of "Hold" from research analysts.

Earnest Partners LLC lessened its stake in shares of Sabre Corporation (NASDAQ:SABR - Free Report) by 7.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,332,969 shares of the information technology services provider's stock after selling 2,376,760 shares during the period. Earnest Partners LLC owned 7.56% of Sabre worth $82,426,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of SABR. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Sabre by 57.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,240,538 shares of the information technology services provider's stock worth $9,106,000 after acquiring an additional 1,186,716 shares during the period. Nuveen LLC purchased a new position in shares of Sabre during the 1st quarter worth $3,275,000. Dimensional Fund Advisors LP raised its holdings in Sabre by 38.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,615,942 shares of the information technology services provider's stock valued at $13,198,000 after buying an additional 1,007,871 shares during the period. Erste Asset Management GmbH raised its holdings in Sabre by 10.1% in the 1st quarter. Erste Asset Management GmbH now owns 10,869,429 shares of the information technology services provider's stock valued at $30,436,000 after buying an additional 1,000,000 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Sabre by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 41,795,327 shares of the information technology services provider's stock valued at $117,445,000 after buying an additional 936,578 shares during the period. Hedge funds and other institutional investors own 89.42% of the company's stock.

Sabre Stock Performance

Shares of Sabre stock remained flat at $1.79 on Monday. The stock had a trading volume of 3,660,262 shares, compared to its average volume of 12,256,666. Sabre Corporation has a 1-year low of $1.71 and a 1-year high of $4.63. The company has a market capitalization of $706.18 million, a P/E ratio of -1.97 and a beta of 1.52. The stock's fifty day moving average is $2.69 and its 200 day moving average is $2.83.

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on SABR shares. Rothschild & Co Redburn lowered shares of Sabre from a "buy" rating to a "neutral" rating and set a $2.40 price objective on the stock. in a report on Friday, August 15th. Sanford C. Bernstein upgraded shares of Sabre from a "market perform" rating to an "outperform" rating and cut their price target 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, Redburn Atlantic lowered shares of Sabre from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average 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.