Public Sector Pension Investment Board Grows Holdings in Sabre Corporation $SABR

Key Points

• The Public Sector Pension Investment Board increased its holdings in Sabre Corporation by 27.3% in Q1, now owning approximately 1,223,649 shares worth about $3.4 million.
• Several investment firms have changed their ratings on Sabre, with Rothschild & Co Redburn reducing it from "buy" to "neutral" and cutting the target price to $2.40.
• Sabre reported a loss of $0.02 per share for its latest quarter with revenue of $687.15 million, falling short of analysts' expectations of $718.16 million.

Public Sector Pension Investment Board lifted its position in shares of Sabre Corporation (NASDAQ:SABR - Free Report) by 27.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,223,649 shares of the information technology services provider's stock after acquiring an additional 262,360 shares during the period. Public Sector Pension Investment Board owned approximately 0.32% of Sabre worth $3,438,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Nuveen LLC acquired a new position in Sabre in the 1st quarter valued at approximately $3,275,000. Aigen Investment Management LP bought a new position in shares of Sabre in the first quarter valued at $106,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Sabre by 57.8% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,240,538 shares of the information technology services provider's stock valued at $9,106,000 after buying an additional 1,186,716 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Sabre in the first quarter valued at $189,000. Finally, Vanguard Group Inc. lifted its position in shares of Sabre by 2.3% during the first quarter. Vanguard Group Inc. now owns 41,795,327 shares of the information technology services provider's stock valued at $117,445,000 after purchasing an additional 936,578 shares in the last quarter. Institutional investors own 89.42% of the company's stock.

Sabre Stock Down 2.2%

NASDAQ:SABR traded down $0.04 during mid-day trading on Thursday, hitting $1.76. 6,804,754 shares of the stock traded hands, compared to its average volume of 11,632,986. The business's 50-day moving average price is $2.79 and its 200 day moving average price is $2.90. The company has a market cap of $694.34 million, a PE ratio of -1.93 and a beta of 1.47. Sabre Corporation has a 12-month low of $1.73 and a 12-month high of $4.63.

Sabre (NASDAQ:SABR - Get Free Report) last issued its quarterly earnings data 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 company's quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.05) earnings per share. Analysts anticipate that Sabre Corporation will post 0.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

About Sabre

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.