Erste Asset Management GmbH Acquires 1,000,000 Shares of Sabre Corporation $SABR

Key Points

• Erste Asset Management GmbH increased its stake in Sabre Corporation by 10.1% in the first quarter, owning approximately 10.87 million shares valued at $30.4 million.
• Multiple institutional investors, including Mackenzie Financial Corp and Invesco Ltd., have also raised their stakes in Sabre, contributing to a total institutional ownership of 89.42% in the company.
• Rothschild & Co Redburn downgraded Sabre's rating from "buy" to "neutral" with a price target of $2.40, while the consensus rating for the stock is currently a "Hold."

Erste Asset Management GmbH increased its holdings in shares of Sabre Corporation (NASDAQ:SABR - Free Report) by 10.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,869,429 shares of the information technology services provider's stock after acquiring an additional 1,000,000 shares during the quarter. Erste Asset Management GmbH owned about 2.80% of Sabre worth $30,436,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Hsbc Holdings PLC increased its holdings in shares of Sabre by 6.3% during the 1st quarter. Hsbc Holdings PLC now owns 61,063 shares of the information technology services provider's stock worth $172,000 after acquiring an additional 3,637 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Sabre during the 1st quarter worth approximately $343,000. Algert Global LLC increased its holdings in shares of Sabre by 2.5% during the 1st quarter. Algert Global LLC now owns 685,762 shares of the information technology services provider's stock worth $1,927,000 after acquiring an additional 16,890 shares during the last quarter. Ground Swell Capital LLC acquired a new position in shares of Sabre during the 1st quarter worth approximately $58,000. Finally, Neuberger Berman Group LLC increased its holdings in shares of Sabre by 72.1% during the 1st quarter. Neuberger Berman Group LLC now owns 30,504 shares of the information technology services provider's stock worth $86,000 after acquiring an additional 12,784 shares during the last quarter. 89.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Sabre Stock Up 1.7%

Shares of SABR traded up $0.03 during trading hours on Friday, hitting $1.79. 9,306,736 shares of the company were exchanged, compared to its average volume of 11,836,838. The company has a market cap of $706.18 million, a price-to-earnings ratio of -1.97 and a beta of 1.47. Sabre Corporation has a fifty-two week low of $1.73 and a fifty-two week high of $4.63. The firm's fifty day moving average is $2.78 and its 200 day moving average is $2.89.

Sabre (NASDAQ:SABR - Get Free Report) last released its earnings results on Thursday, August 7th. The information technology services provider reported ($0.02) earnings per share (EPS) for the quarter. The firm had revenue of $687.15 million during the quarter, compared to the consensus estimate of $718.16 million. The business's quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.05) earnings per share. Analysts anticipate that Sabre Corporation will post 0.04 EPS for the current year.

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.