PNC Financial Services Group Inc. Reduces Holdings in Sabre Co. (NASDAQ:SABR)

PNC Financial Services Group Inc. trimmed its position in shares of Sabre Co. (NASDAQ:SABR) by 32.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,463 shares of the information technology services provider’s stock after selling 12,466 shares during the period. PNC Financial Services Group Inc.’s holdings in Sabre were worth $93,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC grew its stake in shares of Sabre by 403.5% during the third quarter. Intech Investment Management LLC now owns 91,116 shares of the information technology services provider’s stock valued at $334,000 after acquiring an additional 73,018 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Sabre by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,454,914 shares of the information technology services provider’s stock worth $20,020,000 after acquiring an additional 39,509 shares in the last quarter. Algert Global LLC boosted its holdings in Sabre by 44.2% in the third quarter. Algert Global LLC now owns 438,515 shares of the information technology services provider’s stock valued at $1,609,000 after purchasing an additional 134,340 shares during the last quarter. FMR LLC grew its stake in Sabre by 24.5% during the 3rd quarter. FMR LLC now owns 15,849 shares of the information technology services provider’s stock valued at $58,000 after purchasing an additional 3,116 shares in the last quarter. Finally, Beaconlight Capital LLC increased its holdings in Sabre by 32.2% during the 3rd quarter. Beaconlight Capital LLC now owns 3,954,980 shares of the information technology services provider’s stock worth $14,515,000 after purchasing an additional 962,665 shares during the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Wall Street Analyst Weigh In

SABR has been the subject of several research analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and set a $4.00 target price on shares of Sabre in a research note on Friday, February 21st. Bank of America raised shares of Sabre from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $4.50 to $6.10 in a report on Tuesday, March 4th. Finally, StockNews.com upgraded shares of Sabre from a “hold” rating to a “buy” rating in a research note on Friday, February 21st.

Sabre Trading Down 3.4 %

Shares of NASDAQ SABR opened at $3.39 on Wednesday. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -4.71, a price-to-earnings-growth ratio of 2.43 and a beta of 1.62. Sabre Co. has a twelve month low of $2.27 and a twelve month high of $4.63. The business has a 50 day simple moving average of $3.59 and a 200-day simple moving average of $3.58.

Sabre (NASDAQ:SABR) last released its earnings results on Thursday, February 20th. The information technology services provider reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The business had revenue of $714.72 million for the quarter, compared to analysts’ expectations of $716.60 million. As a group, equities analysts predict that Sabre Co. will post 0.04 earnings per share for the current year.

Sabre Profile

Sabre Corporation, together with its subsidiaries, operates as software and technology company for travel industry in the United States, Europe, Asia-Pacific, and internationally. It operates through two segments: Travel Solutions and Hospitality Solutions. The Travel Solutions segment operates a business-to-business travel marketplace that offers travel content, such as inventory, prices, and availability from a range of travel suppliers, including airlines, hotels, car rental brands, rail carriers, cruise lines, and tour operators with a network of travel buyers comprising online and offline travel agencies, travel management companies, and corporate travel departments.