Oppenheimer Asset Management Inc. Takes Position in Sabre Corporation $SABR

Oppenheimer Asset Management Inc. bought a new stake in Sabre Corporation (NASDAQ:SABR) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 389,906 shares of the information technology services provider’s stock, valued at approximately $815,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. DGS Capital Management LLC bought a new stake in shares of Sabre during the first quarter valued at approximately $25,000. Wealthspire Retirement LLC bought a new position in shares of Sabre in the 1st quarter worth $25,000. Diligent Investors LLC acquired a new stake in Sabre in the 3rd quarter valued at $35,000. Caitong International Asset Management Co. Ltd increased its stake in Sabre by 970.5% during the 3rd 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 purchasing an additional 22,361 shares in the last quarter. Finally, United Services Automobile Association bought a new stake in Sabre during the 1st quarter valued at $80,000. Institutional investors and hedge funds own 89.42% of the company’s stock.

Sabre Stock Down 3.6%

SABR stock opened at $2.15 on Tuesday. The firm has a market capitalization of $867.70 million, a PE ratio of 1.30 and a beta of 0.97. Sabre Corporation has a twelve month low of $0.81 and a twelve month high of $2.30. The stock’s 50 day moving average is $1.91 and its 200-day moving average is $1.66.

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

Analyst Upgrades and Downgrades

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 analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $1.75.

Sabre Company Profile

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.