Northern Trust Corp Reduces Stock Position in Sabre Corporation $SABR

Northern Trust Corp cut its position in shares of Sabre Corporation (NASDAQ:SABR) by 11.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,068,859 shares of the information technology services provider’s stock after selling 520,326 shares during the period. Northern Trust Corp owned approximately 1.05% of Sabre worth $11,433,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Algert Global LLC raised its stake 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 in the last quarter. Ground Swell Capital LLC purchased a new stake in Sabre during the 1st quarter worth approximately $58,000. Neuberger Berman Group LLC grew its position in 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 purchasing an additional 12,784 shares during the last quarter. Public Sector Pension Investment Board grew its position in Sabre by 27.3% during the 1st quarter. Public Sector Pension Investment Board now owns 1,223,649 shares of the information technology services provider’s stock worth $3,438,000 after purchasing an additional 262,360 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Sabre during the 1st quarter worth approximately $3,275,000. 89.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SABR shares. Sanford C. Bernstein raised shares of Sabre from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $4.00 to $3.00 in a report on Monday, August 11th. Redburn Atlantic downgraded shares of Sabre from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. Rothschild & Co Redburn downgraded shares of Sabre from a “buy” rating to a “neutral” rating and set a $2.40 price target on the stock. in a report on Friday, August 15th. Finally, Morgan Stanley reissued a “reduce” rating on shares of Sabre in a report on Sunday, August 10th. 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $3.80.

Sabre Stock Down 0.6%

Shares of NASDAQ SABR opened at $1.72 on Friday. The firm has a 50-day simple moving average of $2.59 and a 200-day simple moving average of $2.79. The stock has a market capitalization of $678.56 million, a price-to-earnings ratio of -1.89 and a beta of 1.52. Sabre Corporation has a 52 week low of $1.69 and a 52 week high of $4.63.

Sabre (NASDAQ:SABR) last issued its earnings results on Thursday, August 7th. The information technology services provider reported ($0.02) EPS for the quarter. The firm had revenue of $687.15 million for the quarter, compared to analyst estimates of $718.16 million. The firm’s revenue was down 1.1% on a year-over-year basis. During the same period last year, the business earned ($0.05) EPS. As a group, equities research analysts expect that Sabre Corporation will post 0.04 EPS for the current year.

Sabre Company 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.