Lazard Asset Management LLC Purchases New Position in Sabre Co. (NASDAQ:SABR)

Lazard Asset Management LLC purchased a new stake in shares of Sabre Co. (NASDAQ:SABRGet Rating) during the 2nd quarter, Holdings Channel reports. The fund purchased 63,033 shares of the information technology services provider’s stock, valued at approximately $367,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in SABR. Parallel Advisors LLC grew its holdings in shares of Sabre by 83.1% during the 1st quarter. Parallel Advisors LLC now owns 2,780 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 1,262 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Sabre by 73.2% during the 1st quarter. SG Americas Securities LLC now owns 106,367 shares of the information technology services provider’s stock valued at $1,216,000 after purchasing an additional 44,952 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of Sabre by 2.0% during the 1st quarter. Mutual of America Capital Management LLC now owns 294,964 shares of the information technology services provider’s stock valued at $3,371,000 after purchasing an additional 5,646 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Sabre by 22.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 999,589 shares of the information technology services provider’s stock valued at $11,425,000 after purchasing an additional 181,029 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in shares of Sabre by 24.8% during the 1st quarter. Commonwealth Equity Services LLC now owns 168,684 shares of the information technology services provider’s stock valued at $1,928,000 after purchasing an additional 33,500 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms recently commented on SABR. Morgan Stanley cut their target price on shares of Sabre from $10.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 3rd. Redburn Partners began coverage on shares of Sabre in a research report on Wednesday, September 28th. They set a “buy” rating on the stock. Mizuho cut their target price on shares of Sabre from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Monday, October 17th. Finally, StockNews.com began coverage on shares of Sabre in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.67.

Sabre Stock Performance

Shares of NASDAQ SABR opened at $5.07 on Friday. The company has a market capitalization of $1.66 billion, a P/E ratio of -3.38 and a beta of 1.79. Sabre Co. has a 52-week low of $4.46 and a 52-week high of $12.08. The company’s 50 day moving average price is $5.55 and its 200-day moving average price is $6.45.

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.

Further Reading

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Institutional Ownership by Quarter for Sabre (NASDAQ:SABR)

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