Mackenzie Financial Corp Has $1.13 Million Stock Holdings in Sabre Corporation (NASDAQ:SABR)

Key Points

• Mackenzie Financial Corp increased its stake in Sabre Corporation by 86.9%, owning 400,492 shares worth approximately $1,125,000 at the end of the first quarter.
• Wall Street analysts have set a consensus rating of "Hold" on Sabre with a target price of $4.28, although Morgan Stanley recently lowered its price target from $5.00 to $3.50.
• Sabre reported a revenue of $776.62 million for the last quarter, missing analysts' expectations and marking a 0.8% decline year-over-year.

Mackenzie Financial Corp boosted its position in Sabre Corporation (NASDAQ:SABR - Free Report) by 86.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 400,492 shares of the information technology services provider's stock after buying an additional 186,192 shares during the quarter. Mackenzie Financial Corp owned approximately 0.10% of Sabre worth $1,125,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Sterling Capital Management LLC raised its holdings in Sabre by 744.8% during the fourth quarter. Sterling Capital Management LLC now owns 9,589 shares of the information technology services provider's stock worth $35,000 after purchasing an additional 8,454 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new position in shares of Sabre during the 1st quarter valued at about $28,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Sabre in the 4th quarter worth approximately $45,000. Abacus Planning Group Inc. bought a new stake in shares of Sabre in the 1st quarter worth approximately $38,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Sabre during the first quarter valued at approximately $61,000. Institutional investors and hedge funds own 89.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SABR. Sanford C. Bernstein reiterated a "market perform" rating on shares of Sabre in a research report on Monday, July 14th. Morgan Stanley cut their price objective on Sabre from $5.00 to $3.50 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Sabre currently has an average rating of "Hold" and an average target price of $4.28.

Sabre Stock Performance

Shares of SABR stock traded down $1.07 on Thursday, reaching $1.93. 71,332,115 shares of the company's stock traded hands, compared to its average volume of 5,797,606. Sabre Corporation has a 12-month low of $1.73 and a 12-month high of $4.63. The company has a market capitalization of $748.47 million, a P/E ratio of -4.39 and a beta of 1.47. The business's 50 day moving average price is $2.97 and its two-hundred day moving average price is $3.01.

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