Connor Clark & Lunn Investment Management Ltd. Takes Position in Sabre Corporation $SABR

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Sabre Corporation (NASDAQ:SABR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,647,220 shares of the information technology services provider’s stock, valued at approximately $3,443,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.41% of Sabre at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Sabre in the 2nd quarter worth approximately $114,425,000. Discerene Group LP grew its position in shares of Sabre by 1.5% during the 1st quarter. Discerene Group LP now owns 39,093,531 shares of the information technology services provider’s stock valued at $56,686,000 after purchasing an additional 569,711 shares in the last quarter. Par Capital Management Inc. increased its holdings in shares of Sabre by 57.7% in the second quarter. Par Capital Management Inc. now owns 19,350,000 shares of the information technology services provider’s stock worth $61,146,000 after purchasing an additional 7,082,948 shares during the period. State Street Corp raised its position in shares of Sabre by 2.4% in the fourth quarter. State Street Corp now owns 14,813,630 shares of the information technology services provider’s stock worth $20,147,000 after buying an additional 343,209 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Sabre by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 9,273,047 shares of the information technology services provider’s stock worth $12,614,000 after buying an additional 197,433 shares in the last quarter. 89.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on SABR shares. Weiss Ratings cut Sabre from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Citigroup reiterated a “buy” rating on shares of Sabre in a research report on Thursday. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Sabre currently has a consensus rating of “Hold” and an average price target of $1.75.

Sabre Stock Up 2.8%

NASDAQ SABR opened at $2.20 on Friday. The stock’s 50-day simple moving average is $1.98 and its two-hundred day simple moving average is $1.71. Sabre Corporation has a twelve month low of $0.81 and a twelve month high of $2.30. The company has a market capitalization of $887.88 million, a price-to-earnings ratio of 1.33 and a beta of 0.97.

Sabre (NASDAQ:SABR) last posted its quarterly earnings data on Thursday, August 6th. The information technology services provider reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.13). The firm had revenue of $711.96 million during the quarter, compared to analysts’ expectations of $697.40 million. On average, equities analysts expect that Sabre Corporation will post -0.16 earnings per share for the current fiscal year.

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.