Bank of America Corp DE Sells 262,072 Shares of Sabre Co. (NASDAQ:SABR)

Bank of America Corp DE reduced its stake in shares of Sabre Co. (NASDAQ:SABR - Free Report) by 9.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,409,675 shares of the information technology services provider's stock after selling 262,072 shares during the quarter. Bank of America Corp DE owned 0.62% of Sabre worth $8,795,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Sterling Capital Management LLC lifted its position 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 during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Sabre by 173.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 9,935 shares of the information technology services provider's stock worth $36,000 after acquiring an additional 6,298 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Sabre during the 4th quarter worth approximately $45,000. Briaud Financial Planning Inc acquired a new stake in shares of Sabre during the 4th quarter worth approximately $51,000. Finally, Sprott Inc. bought a new position in Sabre in the fourth quarter valued at approximately $55,000. 89.42% of the stock is owned by institutional investors and hedge funds.

Sabre Stock Up 3.5%

Shares of NASDAQ:SABR traded up $0.09 during trading on Tuesday, hitting $2.64. 5,810,889 shares of the company were exchanged, compared to its average volume of 4,519,686. Sabre Co. has a 1-year low of $1.93 and a 1-year high of $4.63. The company has a market capitalization of $1.02 billion, a P/E ratio of -3.67, a price-to-earnings-growth ratio of 2.43 and a beta of 1.36. The business's 50 day moving average is $2.55 and its 200-day moving average is $3.27.

Sabre (NASDAQ:SABR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.03). The company had revenue of $776.62 million during the quarter, compared to analyst estimates of $794.65 million. The firm's revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.02) EPS. As a group, sell-side analysts anticipate that Sabre Co. will post 0.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SABR shares. Morgan Stanley cut their target price on Sabre from $5.00 to $3.50 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Sanford C. Bernstein upgraded Sabre from an "underperform" rating to a "market perform" rating and set a $3.50 price objective for the company in a research report on Tuesday, April 1st. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $4.00 price objective on shares of Sabre in a research note on Friday, February 21st. Wall Street Zen upgraded Sabre from a "hold" rating to a "buy" rating in a research report on Friday, February 21st. Finally, Bank of America raised shares of Sabre from a "neutral" rating to a "buy" rating and increased their target price for the stock from $4.50 to $6.10 in a report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Sabre presently has a consensus rating of "Hold" and a consensus target price of $4.28.

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.