State of New Jersey Common Pension Fund D Cuts Stake in Sabre Co. (NASDAQ:SABR)

State of New Jersey Common Pension Fund D reduced its stake in shares of Sabre Co. (NASDAQ:SABRGet Rating) by 34.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 220,138 shares of the information technology services provider’s stock after selling 114,222 shares during the period. State of New Jersey Common Pension Fund D owned 0.07% of Sabre worth $2,516,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of SABR. Causeway Capital Management LLC lifted its holdings in shares of Sabre by 33.0% during the 4th quarter. Causeway Capital Management LLC now owns 10,465,402 shares of the information technology services provider’s stock worth $89,898,000 after acquiring an additional 2,597,951 shares during the period. Fundsmith LLP lifted its holdings in shares of Sabre by 12.8% during the 4th quarter. Fundsmith LLP now owns 22,672,237 shares of the information technology services provider’s stock worth $194,755,000 after acquiring an additional 2,578,769 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in shares of Sabre during the 4th quarter worth about $20,241,000. Epoch Investment Partners Inc. lifted its holdings in shares of Sabre by 49.2% during the 4th quarter. Epoch Investment Partners Inc. now owns 5,359,216 shares of the information technology services provider’s stock worth $46,035,000 after acquiring an additional 1,766,475 shares during the period. Finally, Schroder Investment Management Group lifted its holdings in shares of Sabre by 30.7% during the 4th quarter. Schroder Investment Management Group now owns 5,348,700 shares of the information technology services provider’s stock worth $45,945,000 after acquiring an additional 1,255,247 shares during the period.

Sabre Trading Up 1.8 %

Shares of Sabre stock opened at $6.26 on Tuesday. The company has a fifty day moving average price of $6.51 and a 200 day moving average price of $8.63. Sabre Co. has a twelve month low of $5.45 and a twelve month high of $12.65. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of -3.10 and a beta of 1.83.

Sabre (NASDAQ:SABRGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The information technology services provider reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.12. The business had revenue of $584.90 million for the quarter, compared to analysts’ expectations of $536.43 million. During the same period last year, the company posted ($0.82) earnings per share. The firm’s revenue for the quarter was up 78.6% on a year-over-year basis. Analysts forecast that Sabre Co. will post -1.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on SABR. StockNews.com upgraded shares of Sabre from a “sell” rating to a “hold” rating in a report on Sunday, May 8th. Bank of America raised shares of Sabre from an “underperform” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Wednesday, July 6th. Mizuho decreased their price target on shares of Sabre from $11.00 to $6.00 and set a “neutral” rating for the company in a research report on Tuesday, July 19th. Finally, Morgan Stanley decreased their price target on shares of Sabre from $13.00 to $10.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 12th.

Sabre Company Profile

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Sabre Corporation, through its subsidiary, Sabre Holdings Corporation, provides software and technology solutions for the travel industry worldwide. It operates in two segments, Travel Solutions and Hospitality Solutions. The Travel Solutions segment operates as 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.

See Also

Institutional Ownership by Quarter for Sabre (NASDAQ:SABR)

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