Voya Investment Management LLC Sells 225,991 Shares of Sabre Corporation $SABR

Key Points

• Voya Investment Management LLC reduced its stake in Sabre Corporation by 19.8%, now holding 913,992 shares valued at approximately $2.57 million.
• Several hedge funds increased their holdings in Sabre during the 1st quarter, with Connor Clark & Lunn Investment Management increasing theirs by 57.8% to own over 3.2 million shares.
• Sabre's stock has a current market price of $1.88 and a 52-week range between $1.69 and $4.63, reflecting volatility in its performance.

Voya Investment Management LLC decreased its position in Sabre Corporation (NASDAQ:SABR - Free Report) by 19.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 913,992 shares of the information technology services provider's stock after selling 225,991 shares during the quarter. Voya Investment Management LLC owned approximately 0.24% of Sabre worth $2,568,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of SABR. Fifth Third Wealth Advisors LLC purchased a new stake in shares of Sabre in the first quarter worth $28,000. Blueshift Asset Management LLC purchased a new stake in shares of Sabre in the first quarter worth $31,000. Abacus Planning Group Inc. purchased a new stake in shares of Sabre in the first quarter worth $38,000. Bank of Nova Scotia purchased a new stake in shares of Sabre in the first quarter worth $39,000. Finally, State of Wyoming purchased a new stake in shares of Sabre in the first quarter worth $49,000. 89.42% of the stock is owned by hedge funds and other institutional investors.

Sabre Stock Up 0.8%

NASDAQ:SABR traded up $0.02 on Tuesday, hitting $1.88. The stock had a trading volume of 1,032,457 shares, compared to its average volume of 6,146,492. The business's 50-day simple moving average is $2.25 and its two-hundred day simple moving average is $2.58. Sabre Corporation has a 52-week low of $1.69 and a 52-week high of $4.63. The stock has a market cap of $739.71 million, a price-to-earnings ratio of -2.06 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) EPS for the quarter. The company had revenue of $687.15 million during the quarter, compared to the consensus estimate of $718.16 million. During the same quarter in the previous year, the company posted ($0.05) earnings per share. The company's quarterly revenue was down 1.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Sabre Corporation will post 0.04 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.