Earnest Partners LLC Has $82.43 Million Stock Position in Sabre Corporation $SABR

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 holdings in Sabre Corporation (NASDAQ:SABR - Free Report) by 7.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 about 7.56% of Sabre worth $82,426,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mackenzie Financial Corp raised its holdings in shares of Sabre by 86.9% in the 1st quarter. Mackenzie Financial Corp now owns 400,492 shares of the information technology services provider's stock worth $1,125,000 after acquiring an additional 186,192 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Sabre by 5.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 217,400 shares of the information technology services provider's stock worth $794,000 after purchasing an additional 10,998 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in Sabre by 6.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 453,288 shares of the information technology services provider's stock worth $1,274,000 after purchasing an additional 27,225 shares in the last quarter. Northern Trust Corp grew its position in Sabre by 7.8% in the 4th quarter. Northern Trust Corp now owns 4,589,185 shares of the information technology services provider's stock worth $16,751,000 after purchasing an additional 333,690 shares in the last quarter. Finally, Mariner LLC grew its position in Sabre by 17.1% in the 4th quarter. Mariner LLC now owns 106,969 shares of the information technology services provider's stock worth $390,000 after purchasing an additional 15,584 shares in the last quarter. Institutional investors and hedge funds own 89.42% of the company's stock.

Wall Street Analyst Weigh In

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

Sabre Stock Performance

Sabre stock opened at $1.73 on Wednesday. The firm's fifty day moving average price is $2.74 and its 200-day moving average price is $2.87. The stock has a market cap of $682.50 million, a P/E ratio of -1.90 and a beta of 1.47. Sabre Corporation has a fifty-two week low of $1.71 and a fifty-two week high of $4.63.

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

Sabre Company Profile

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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