ING Groep NV Takes $2.72 Million Position in Sabre Corporation $SABR

ING Groep NV purchased a new stake in shares of Sabre Corporation (NASDAQ:SABR) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 2,000,000 shares of the information technology services provider’s stock, valued at approximately $2,720,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of SABR. Oak Thistle LLC bought a new stake in shares of Sabre during the fourth quarter valued at about $27,000. GSA Capital Partners LLP bought a new stake in shares of Sabre during the third quarter valued at about $32,000. Diligent Investors LLC bought a new stake in shares of Sabre during the third quarter valued at about $35,000. Caprock Group LLC bought a new stake in shares of Sabre during the third quarter valued at about $43,000. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Sabre by 970.5% during the third quarter. Caitong International Asset Management Co. Ltd now owns 24,665 shares of the information technology services provider’s stock valued at $45,000 after buying an additional 22,361 shares during the period. 89.42% of the stock is currently owned by institutional investors.

Sabre Trading Up 0.3%

SABR stock opened at $1.66 on Wednesday. The company’s 50 day moving average is $1.69 and its 200 day moving average is $1.50. The stock has a market cap of $656.21 million, a price-to-earnings ratio of 1.52 and a beta of 0.99. Sabre Corporation has a 1-year low of $0.81 and a 1-year high of $3.52.

Sabre (NASDAQ:SABR) last posted its quarterly earnings data on Thursday, May 7th. The information technology services provider reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.11. The company had revenue of $760.33 million during the quarter, compared to the consensus estimate of $739.02 million. As a group, sell-side analysts forecast that Sabre Corporation will post -0.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SABR shares. Sanford C. Bernstein reiterated a “market perform” rating and set a $1.50 price target on shares of Sabre in a research report on Tuesday, March 3rd. Zacks Research upgraded Sabre from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 11th. Cantor Fitzgerald restated a “neutral” rating and issued a $2.00 price objective on shares of Sabre in a research report on Thursday, February 19th. Finally, Weiss Ratings upgraded shares of Sabre from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, May 8th. Four investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $1.97.

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.