Covenant Partners LLC Acquires New Position in Sabre Co. (NASDAQ:SABR)

Covenant Partners LLC bought a new position in Sabre Co. (NASDAQ:SABR) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 24,217 shares of the information technology services provider’s stock, valued at approximately $107,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Creative Planning grew its stake in shares of Sabre by 0.5% during the third quarter. Creative Planning now owns 1,282,390 shares of the information technology services provider’s stock valued at $5,758,000 after buying an additional 6,204 shares during the last quarter. Gotham Asset Management LLC purchased a new position in Sabre in the 3rd quarter worth approximately $404,000. Epoch Investment Partners Inc. bought a new stake in Sabre in the third quarter valued at approximately $1,173,000. Swiss National Bank boosted its stake in shares of Sabre by 2.0% during the third quarter. Swiss National Bank now owns 656,800 shares of the information technology services provider’s stock valued at $2,949,000 after purchasing an additional 13,000 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Sabre by 10.1% in the third quarter. Vanguard Group Inc. now owns 39,911,130 shares of the information technology services provider’s stock worth $179,201,000 after purchasing an additional 3,665,465 shares during the last quarter. 89.42% of the stock is currently owned by institutional investors.

Sabre Price Performance

NASDAQ:SABR traded down $0.11 during mid-day trading on Friday, hitting $2.60. 4,761,953 shares of the company’s stock were exchanged, compared to its average volume of 5,060,738. Sabre Co. has a one year low of $1.81 and a one year high of $5.76. The business has a fifty day moving average price of $2.85 and a 200 day moving average price of $3.29. The company has a market cap of $993.02 million, a PE ratio of -1.76 and a beta of 1.75.

Sabre (NASDAQ:SABR) last issued its quarterly earnings results on Thursday, May 2nd. The information technology services provider reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The company had revenue of $782.89 million during the quarter, compared to the consensus estimate of $751.02 million. On average, equities analysts forecast that Sabre Co. will post -0.28 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on SABR. Cantor Fitzgerald initiated coverage on Sabre in a research note on Wednesday, February 21st. They issued an “overweight” rating and a $5.00 price target for the company. StockNews.com lowered shares of Sabre from a “buy” rating to a “hold” rating in a research note on Friday, April 5th. Mizuho decreased their price target on shares of Sabre from $4.00 to $3.00 and set a “neutral” rating for the company in a research note on Monday, March 4th. Finally, Bank of America cut their price objective on Sabre from $4.50 to $3.00 and set a “neutral” rating on the stock in a research report on Monday, April 15th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Sabre presently has an average rating of “Hold” and an average target price of $4.13.

Insider Transactions at Sabre

In other Sabre news, Director Karl Mr. Peterson sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $2.79, for a total transaction of $27,900.00. Following the completion of the sale, the director now directly owns 134,655 shares in the company, valued at approximately $375,687.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Sabre news, CEO Kurt Joseph Ekert purchased 65,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was purchased at an average price of $2.57 per share, for a total transaction of $167,050.00. Following the completion of the purchase, the chief executive officer now directly owns 1,155,909 shares of the company’s stock, valued at $2,970,686.13. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Karl Mr. Peterson sold 10,000 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $2.79, for a total value of $27,900.00. Following the sale, the director now directly owns 134,655 shares in the company, valued at $375,687.45. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 135,000 shares of company stock valued at $368,650. Insiders own 1.32% of the company’s stock.

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.