Northern Trust Corp Lowers Holdings in Sabre Corporation $SABR

Key Points

• Northern Trust Corp reduced its stake in Sabre Corporation by 11.3% during the first quarter, now owning approximately 4.07 million shares valued at around $11.4 million.
• Several large investors are actively adjusting their positions in Sabre, with 89.42% of the stock now held by hedge funds and institutional investors.
• Sabre's stock has faced scrutiny from analysts, with both upgrades and downgrades, leading to an average rating of "Hold" and a price target of $3.80.

Northern Trust Corp trimmed its holdings in shares of Sabre Corporation (NASDAQ:SABR - Free Report) by 11.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,068,859 shares of the information technology services provider's stock after selling 520,326 shares during the quarter. Northern Trust Corp owned approximately 1.05% of Sabre worth $11,433,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Mackenzie Financial Corp increased its holdings in Sabre by 86.9% during the first quarter. Mackenzie Financial Corp now owns 400,492 shares of the information technology services provider's stock valued at $1,125,000 after buying an additional 186,192 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Sabre by 5.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 217,400 shares of the information technology services provider's stock valued at $794,000 after buying an additional 10,998 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in Sabre by 6.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 453,288 shares of the information technology services provider's stock valued at $1,274,000 after buying an additional 27,225 shares during the period. Public Sector Pension Investment Board increased its holdings in Sabre by 27.3% during the first quarter. Public Sector Pension Investment Board now owns 1,223,649 shares of the information technology services provider's stock valued at $3,438,000 after buying an additional 262,360 shares during the period. Finally, Mercer Global Advisors Inc. ADV purchased a new position in Sabre in the fourth quarter worth $45,000. 89.42% of the stock is owned by hedge funds and other institutional investors.

Sabre Stock Performance

Shares of NASDAQ SABR traded up $0.03 during mid-day trading on Tuesday, hitting $1.77. The stock had a trading volume of 3,113,420 shares, compared to its average volume of 6,147,366. The company has a 50 day moving average of $2.53 and a two-hundred day moving average of $2.74. Sabre Corporation has a twelve month low of $1.69 and a twelve month high of $4.63. The firm has a market cap of $696.31 million, a PE ratio of -1.94 and a beta of 1.52.

Sabre (NASDAQ:SABR - Get Free Report) last released its 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 analysts' expectations of $718.16 million. During the same quarter last year, the firm posted ($0.05) earnings per share. Sabre's revenue for the quarter was down 1.1% compared to the same quarter last year. Equities research analysts predict that Sabre Corporation will post 0.04 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.