Saba Capital Management L.P. Sells 2,389,029 Shares of Sabre Corporation $SABR

Saba Capital Management L.P. decreased its holdings in shares of Sabre Corporation (NASDAQ:SABR) by 26.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,490,153 shares of the information technology services provider’s stock after selling 2,389,029 shares during the quarter. Saba Capital Management L.P.’s holdings in Sabre were worth $9,411,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in SABR. Royal Bank of Canada lifted its position in Sabre by 46.9% during the 1st quarter. Royal Bank of Canada now owns 174,893 shares of the information technology services provider’s stock worth $491,000 after buying an additional 55,840 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Sabre by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 227,323 shares of the information technology services provider’s stock worth $639,000 after buying an additional 9,923 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Sabre in the 1st quarter valued at about $140,000. Jones Financial Companies Lllp increased its position in shares of Sabre by 265.7% in the first quarter. Jones Financial Companies Lllp now owns 286,802 shares of the information technology services provider’s stock valued at $806,000 after acquiring an additional 208,371 shares during the last quarter. Finally, United Services Automobile Association bought a new stake in Sabre during the first quarter worth about $80,000. Institutional investors own 89.42% of the company’s stock.

Sabre Trading Up 7.2%

Shares of SABR opened at $1.78 on Tuesday. The company has a market cap of $703.66 million, a price-to-earnings ratio of 1.63 and a beta of 0.96. Sabre Corporation has a 1-year low of $0.81 and a 1-year high of $3.19. The company’s fifty day simple moving average is $1.80 and its 200 day simple moving average is $1.58.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Sabre from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 2nd. Five investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $1.97.

Sabre 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.