Goldman Sachs Group Inc. Sells 1,742,108 Shares of Sabre Corporation $SABR

Key Points

• Goldman Sachs Group Inc. reduced its stake in Sabre Corporation by 45.2%, selling over 1.7 million shares during the first quarter, resulting in ownership of approximately 2.1 million shares worth around $5.9 million.
• Sabre's stock price has seen an increase of 2.7% recently, with a current trading value of $1.92, while its market cap stands at approximately $757.47 million.
• Analysts have mixed opinions on Sabre’s stock, with two rating it as a "Buy," three as "Hold," and one as "Sell," indicating a current average rating of "Hold."

Goldman Sachs Group Inc. decreased its stake in shares of Sabre Corporation (NASDAQ:SABR - Free Report) by 45.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,109,639 shares of the information technology services provider's stock after selling 1,742,108 shares during the period. Goldman Sachs Group Inc. owned 0.54% of Sabre worth $5,928,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SABR. Connor Clark & Lunn Investment Management Ltd. grew its position 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 purchasing an additional 1,186,716 shares during the period. Nuveen LLC acquired a new position in Sabre during the 1st quarter worth approximately $3,275,000. Erste Asset Management GmbH increased its stake in Sabre by 10.1% during the 1st quarter. Erste Asset Management GmbH now owns 10,869,429 shares of the information technology services provider's stock worth $30,436,000 after buying an additional 1,000,000 shares during the period. Empyrean Capital Partners LP lifted its holdings in Sabre by 40.0% in the 1st quarter. Empyrean Capital Partners LP now owns 3,500,000 shares of the information technology services provider's stock worth $9,835,000 after buying an additional 1,000,000 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in 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 buying an additional 936,578 shares in the last quarter. Hedge funds and other institutional investors own 89.42% of the company's stock.

Analyst Upgrades and Downgrades

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

Sabre Price Performance

NASDAQ SABR traded down $0.03 during mid-day trading on Friday, reaching $1.88. 6,946,485 shares of the stock were exchanged, compared to its average volume of 5,337,932. Sabre Corporation has a one year low of $1.69 and a one year high of $4.63. The stock has a 50 day simple moving average of $2.27 and a 200-day simple moving average of $2.62. The stock has a market cap of $741.68 million, a P/E ratio of -2.07 and a beta of 1.52.

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

Sabre 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.