Saba Capital Management L.P. Has $9.41 Million Position in Sabre Corporation $SABR

Key Points

• Saba Capital Management reduced its Sabre position by 26.9% in the first quarter, selling 2.39 million shares. It still held 6.49 million shares worth approximately $9.41 million, representing a 1.64% stake.
• Institutional investors own 89.42% of Sabre. Analysts maintain a cautious outlook, with the stock carrying a consensus “Reduce” rating and an average price target of $1.97.
• Sabre reported quarterly EPS of $0.06, beating estimates by $0.11, while revenue of $760.33 million exceeded forecasts. Shares opened at $1.78, within a 52-week range of $0.81 to $3.19.

Saba Capital Management L.P. cut its holdings in Sabre Corporation (NASDAQ:SABR - Free Report) by 26.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,490,153 shares of the information technology services provider's stock after selling 2,389,029 shares during the quarter. Saba Capital Management L.P. owned about 1.64% of Sabre worth $9,411,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Cerity Partners LLC lifted its stake in shares of Sabre by 22.6% in the 2nd quarter. Cerity Partners LLC now owns 30,462 shares of the information technology services provider's stock valued at $96,000 after purchasing an additional 5,617 shares during the period. Captrust Financial Advisors boosted its position in shares of Sabre by 17.8% in the 2nd quarter. Captrust Financial Advisors now owns 54,707 shares of the information technology services provider's stock worth $173,000 after purchasing an additional 8,262 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Sabre by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 227,323 shares of the information technology services provider's stock worth $639,000 after purchasing an additional 9,923 shares during the period. Empowered Funds LLC grew its stake in shares of Sabre by 12.9% during the first quarter. Empowered Funds LLC now owns 91,891 shares of the information technology services provider's stock worth $258,000 after purchasing an additional 10,530 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in Sabre by 0.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,157,394 shares of the information technology services provider's stock valued at $1,574,000 after purchasing an additional 10,742 shares during the last quarter. Institutional investors and hedge funds own 89.42% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Sabre from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, July 2nd. Five equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus price target of $1.97.

Sabre Trading Up 7.2%

Shares of NASDAQ SABR opened at $1.78 on Tuesday. The company has a fifty day moving average price of $1.80 and a 200 day moving average price of $1.58. The firm has a market cap of $703.66 million, a PE ratio of 1.63 and a beta of 0.96. Sabre Corporation has a 1-year low of $0.81 and a 1-year high of $3.19.

Sabre (NASDAQ:SABR - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.11. The firm had revenue of $760.33 million during the quarter, compared to analyst estimates of $739.02 million. Equities research analysts forecast that Sabre Corporation will post -0.13 EPS for the current year.

Sabre 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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