Black Creek Investment Management Inc. increased its holdings in shares of Sabre Co. (NASDAQ:SABR – Free Report) by 52.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 960,000 shares of the information technology services provider’s stock after purchasing an additional 330,000 shares during the quarter. Sabre accounts for 0.1% of Black Creek Investment Management Inc.’s portfolio, making the stock its 28th biggest holding. Black Creek Investment Management Inc. owned about 0.29% of Sabre worth $3,062,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. State of Wyoming bought a new position in shares of Sabre during the fourth quarter valued at $31,000. Northwestern Mutual Wealth Management Co. increased its position in Sabre by 147.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 7,171 shares of the information technology services provider’s stock valued at $44,000 after acquiring an additional 4,277 shares during the last quarter. Advisor Partners II LLC purchased a new stake in Sabre during the first quarter valued at $46,000. MQS Management LLC purchased a new stake in Sabre during the first quarter valued at $48,000. Finally, Parametrica Management Ltd purchased a new stake in Sabre during the first quarter valued at $51,000. 99.23% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of analysts recently commented on the company. StockNews.com assumed coverage on Sabre in a research report on Thursday, October 5th. They set a “hold” rating for the company. Mizuho reduced their price objective on Sabre from $5.00 to $4.00 and set a “neutral” rating for the company in a research report on Monday, October 16th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $5.50 price objective on shares of Sabre in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.50.
Sabre Trading Up 2.7 %
SABR traded up $0.10 on Wednesday, hitting $3.78. 172,144 shares of the company’s stock traded hands, compared to its average volume of 6,562,087. The company’s 50 day simple moving average is $4.05 and its 200-day simple moving average is $4.00. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -2.02 and a beta of 1.85. Sabre Co. has a one year low of $2.99 and a one year high of $7.92.
Insider Activity at Sabre
In related news, insider Sean E. Menke sold 100,000 shares of Sabre stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $5.07, for a total transaction of $507,000.00. Following the sale, the insider now owns 1,667,340 shares of the company’s stock, valued at approximately $8,453,413.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.32% of the stock is owned by corporate insiders.
Sabre Company Profile
Sabre Corporation, through its subsidiaries, 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 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.
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