389,906 Shares in Sabre Corporation $SABR Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. bought a new position in shares of Sabre Corporation (NASDAQ:SABR) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 389,906 shares of the information technology services provider’s stock, valued at approximately $815,000. Oppenheimer Asset Management Inc. owned 0.10% of Sabre at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Discerene Group LP raised its position in shares of Sabre by 34.9% during the fourth quarter. Discerene Group LP now owns 38,523,820 shares of the information technology services provider’s stock worth $52,392,000 after acquiring an additional 9,958,212 shares during the last quarter. Par Capital Management Inc. increased its position in Sabre by 57.7% during the 2nd quarter. Par Capital Management Inc. now owns 19,350,000 shares of the information technology services provider’s stock valued at $61,146,000 after purchasing an additional 7,082,948 shares during the period. Cibc World Markets Corp bought a new position in Sabre during the 4th quarter worth approximately $7,377,000. Ampfield Management L.P. bought a new position in Sabre during the 1st quarter worth approximately $7,505,000. Finally, Stonehill Capital Management LLC acquired a new position in shares of Sabre in the 4th quarter worth approximately $6,660,000. Institutional investors own 89.42% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Sabre from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $1.75.

Sabre Price Performance

Shares of Sabre stock opened at $2.15 on Tuesday. Sabre Corporation has a one year low of $0.81 and a one year high of $2.30. The stock’s 50-day moving average is $1.91 and its 200 day moving average is $1.66. The firm has a market cap of $867.70 million, a price-to-earnings ratio of 1.30 and a beta of 0.97.

Sabre (NASDAQ:SABR) last issued its earnings results on Thursday, August 6th. The information technology services provider reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.13). The business had revenue of $711.96 million during the quarter, compared to analyst estimates of $697.40 million. On average, sell-side analysts expect that Sabre Corporation will post -0.13 EPS for the current fiscal year.

About Sabre

Sabre Corporation is a leading travel technology company that provides software, data, mobile and distribution solutions to the global travel industry. Through its Sabre travel marketplace, the company operates one of the world’s principal global distribution systems (GDS), connecting travel buyers and suppliers across airlines, hotels, car rental companies and other travel providers. Sabre’s suite of products includes reservation and ticketing systems for travel agencies, comprehensive airline operations and passenger services solutions, as well as hospitality property management and central reservation systems for hotels.

Established in 1960 as a joint venture between American Airlines and IBM, Sabre introduced one of the first computerized airline reservation systems, pioneering the automation of ticketing and inventory control.