Connor Clark & Lunn Investment Management Ltd. increased its holdings in Sabre Corporation (NASDAQ:SABR - Free Report) by 57.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,240,538 shares of the information technology services provider's stock after purchasing an additional 1,186,716 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.84% of Sabre worth $9,106,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the business. Fifth Third Wealth Advisors LLC bought a new stake in Sabre during the first quarter worth about $28,000. Blueshift Asset Management LLC bought a new stake in Sabre during the first quarter worth about $31,000. Sterling Capital Management LLC grew its stake 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 buying an additional 8,454 shares during the last quarter. Abacus Planning Group Inc. bought a new stake in Sabre during the first quarter worth about $38,000. Finally, Bank of Nova Scotia bought a new stake in Sabre during the first quarter worth about $39,000. Institutional investors and hedge funds own 89.42% of the company's stock.
Wall Street Analyst Weigh In
SABR has been the topic of several research analyst reports. Sanford C. Bernstein raised shares of Sabre from a "market perform" rating to an "outperform" rating and decreased their price objective for the stock from $4.00 to $3.00 in a research note on Monday. Morgan Stanley reissued a "reduce" rating on shares of Sabre in a research note on Sunday. Finally, Rothschild & Co Redburn cut shares of Sabre from a "buy" rating to a "neutral" rating and set a $2.40 price target on the stock. in a research note on Friday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Sabre currently has an average rating of "Hold" and a consensus price target of $3.80.
Read Our Latest Stock Analysis on SABR
Sabre Trading Down 0.3%
Shares of SABR traded down $0.01 during mid-day trading on Friday, hitting $1.83. 7,943,764 shares of the company traded hands, compared to its average volume of 6,154,289. Sabre Corporation has a one year low of $1.73 and a one year high of $4.63. The business has a 50-day moving average of $2.90 and a 200 day moving average of $2.96. The stock has a market capitalization of $719.98 million, a price-to-earnings ratio of -2.01 and a beta of 1.47.
Sabre (NASDAQ:SABR - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The information technology services provider reported ($0.02) earnings per share (EPS) for the quarter. The business had revenue of $687.15 million for the quarter, compared to analysts' expectations of $718.16 million. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. The business's revenue was down 1.1% on a year-over-year basis. As a group, analysts anticipate that Sabre Corporation will post 0.04 earnings per share for the current year.
About Sabre
(
Free Report)
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.
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