U S Global Investors Inc. Cuts Position in Sabre Corporation $SABR

Key Points

• U S Global Investors Inc. cut its Sabre stake by 25.9% in the first quarter, selling 2.64 million shares and leaving it with 7.53 million shares worth about $10.9 million.
• Sabre reported better-than-expected quarterly results, posting EPS of $0.06 versus an expected loss and revenue of $760.33 million, above analyst estimates.
• Despite the earnings beat, Wall Street remains cautious: analysts have a “Reduce” consensus on the stock, with an average price target of $1.97.

U S Global Investors Inc. lessened its position in Sabre Corporation (NASDAQ:SABR - Free Report) by 25.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,534,906 shares of the information technology services provider's stock after selling 2,638,686 shares during the quarter. Sabre accounts for approximately 1.3% of U S Global Investors Inc.'s portfolio, making the stock its 24th largest holding. U S Global Investors Inc. owned about 1.91% of Sabre worth $10,926,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SABR. DGS Capital Management LLC bought a new position in shares of Sabre during the 1st quarter valued at about $25,000. Y Intercept Hong Kong Ltd purchased a new stake in Sabre in the first quarter worth approximately $52,000. Ampfield Management L.P. purchased a new stake in Sabre in the first quarter worth approximately $7,505,000. Louisiana State Employees Retirement System purchased a new stake in Sabre in the first quarter worth approximately $254,000. Finally, Hsbc Holdings PLC grew its position in Sabre by 208.2% during the fourth quarter. Hsbc Holdings PLC now owns 35,394 shares of the information technology services provider's stock valued at $48,000 after acquiring an additional 23,911 shares during the last quarter. Institutional investors own 89.42% of the company's stock.

Sabre Price Performance

NASDAQ SABR traded down $0.06 during trading on Friday, hitting $1.85. 2,529,540 shares of the company's stock traded hands, compared to its average volume of 5,286,550. The stock has a fifty day moving average of $1.81 and a two-hundred day moving average of $1.55. Sabre Corporation has a 12-month low of $0.81 and a 12-month high of $3.29. The firm has a market cap of $731.32 million, a P/E ratio of 1.70 and a beta of 0.96.

Sabre (NASDAQ:SABR - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The information technology services provider reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.11. The company had revenue of $760.33 million during the quarter, compared to analysts' expectations of $739.02 million. As a group, analysts expect that Sabre Corporation will post -0.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

About Sabre

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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