Hill City Capital LP Sells 1,950,000 Shares of Sabre Corporation $SABR

Key Points

• Hill City Capital LP has reduced its stake in Sabre Corporation by 29.5%, now holding 4,667,000 shares, which accounts for about 1.0% of its total holdings.
• Several institutional investors, including Hsbc Holdings PLC and PNC Financial Services Group Inc., have adjusted their stakes in Sabre, indicating increased interest in the stock.
• Analysts have mixed opinions on Sabre, with a consensus rating of "Hold" and a target price of $3.80, while recent trading saw shares dip to $1.73.

Hill City Capital LP lowered its stake in shares of Sabre Corporation (NASDAQ:SABR - Free Report) by 29.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,667,000 shares of the information technology services provider's stock after selling 1,950,000 shares during the period. Sabre comprises about 1.0% of Hill City Capital LP's investment portfolio, making the stock its 15th biggest holding. Hill City Capital LP owned 1.20% of Sabre worth $13,114,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Hsbc Holdings PLC raised its holdings in shares of Sabre by 5.9% during the 4th quarter. Hsbc Holdings PLC now owns 57,426 shares of the information technology services provider's stock valued at $209,000 after purchasing an additional 3,195 shares in the last quarter. State of Tennessee Department of Treasury grew its stake in Sabre by 5.1% in the 4th quarter. State of Tennessee Department of Treasury now owns 189,259 shares of the information technology services provider's stock valued at $691,000 after buying an additional 9,221 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Sabre by 0.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,683,647 shares of the information technology services provider's stock valued at $4,731,000 after purchasing an additional 9,880 shares during the period. Fifth Third Wealth Advisors LLC acquired a new stake in Sabre during the first quarter worth about $28,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Sabre by 40.1% during 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 purchasing an additional 10,204 shares during the period. Institutional investors and hedge funds own 89.42% of the company's stock.

Wall Street Analysts Forecast Growth

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

Sabre Stock Performance

Shares of Sabre stock remained flat at $1.79 during trading on Friday. 3,660,262 shares of the stock were exchanged, compared to its average volume of 6,227,577. The firm's 50 day moving average price is $2.69 and its 200-day moving average price is $2.83. Sabre Corporation has a 52 week low of $1.71 and a 52 week high of $4.63. The firm has a market capitalization of $706.18 million, a price-to-earnings ratio of -1.97 and a beta of 1.47.

Sabre (NASDAQ:SABR - Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to analyst estimates of $718.16 million. During the same period in the prior year, the business posted ($0.05) EPS. The company's revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities analysts forecast that Sabre Corporation will post 0.04 EPS for the current year.

Sabre 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.