Penn Capital Management Company LLC Buys Shares of 1,086,695 Sabre Corporation $SABR

Key Points

• Penn Capital Management acquired 1,086,695 Sabre shares worth approximately $2.27 million, giving it a 0.27% stake.
• Institutional investors and hedge funds own 89.42% of Sabre, with several firms recently increasing holdings or establishing new positions.
• Sabre shares rose 2.8% to $2.20, despite the company reporting a quarterly EPS loss of $0.17 that missed estimates; analysts maintain an overall “Hold” rating with an average price target of $1.75.

Penn Capital Management Company LLC purchased a new position in shares of Sabre Corporation (NASDAQ:SABR - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,086,695 shares of the information technology services provider's stock, valued at approximately $2,271,000. Penn Capital Management Company LLC owned about 0.27% of Sabre as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Royal Bank of Canada boosted its holdings in Sabre by 46.9% during the first quarter. Royal Bank of Canada now owns 174,893 shares of the information technology services provider's stock worth $491,000 after purchasing an additional 55,840 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Sabre by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 227,323 shares of the information technology services provider's stock worth $639,000 after buying an additional 9,923 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Sabre during the 1st quarter worth about $140,000. Jones Financial Companies Lllp boosted its stake in shares of Sabre by 265.7% during the 1st quarter. Jones Financial Companies Lllp now owns 286,802 shares of the information technology services provider's stock worth $806,000 after buying an additional 208,371 shares during the last quarter. Finally, United Services Automobile Association acquired a new position in shares of Sabre during the 1st quarter worth about $80,000. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Sabre Trading Up 2.8%

SABR opened at $2.20 on Friday. The stock's fifty day simple moving average is $1.98 and its 200 day simple moving average is $1.71. Sabre Corporation has a 1-year low of $0.81 and a 1-year high of $2.30. The stock has a market cap of $887.88 million, a PE ratio of 1.33 and a beta of 0.97.

Sabre (NASDAQ:SABR - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The information technology services provider reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.13). The business had revenue of $711.96 million for the quarter, compared to analysts' expectations of $697.40 million. Equities analysts forecast that Sabre Corporation will post -0.16 earnings per share for the current year.

Analysts Set New Price Targets

SABR has been the topic of a number of recent research reports. Citigroup reaffirmed a "buy" rating on shares of Sabre in a research report on Thursday. Weiss Ratings downgraded Sabre from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Sabre has an average rating of "Hold" and an average target price of $1.75.

Sabre Company Profile

Sabre Corporation is a leading travel technology company that provides software, data, mobile and distribution solutions to the global travel industry. Through its Sabre travel marketplace, the company operates one of the world's principal global distribution systems (GDS), connecting travel buyers and suppliers across airlines, hotels, car rental companies and other travel providers. Sabre's suite of products includes reservation and ticketing systems for travel agencies, comprehensive airline operations and passenger services solutions, as well as hospitality property management and central reservation systems for hotels.

Established in 1960 as a joint venture between American Airlines and IBM, Sabre introduced one of the first computerized airline reservation systems, pioneering the automation of ticketing and inventory control.

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