Massachusetts Financial Services Co. MA Cuts Stock Position in Sabre Co. (NASDAQ:SABR)

Massachusetts Financial Services Co. MA trimmed its position in shares of Sabre Co. (NASDAQ:SABR) by 6.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,100,889 shares of the information technology services provider’s stock after selling 453,431 shares during the period. Massachusetts Financial Services Co. MA owned about 1.60% of Sabre worth $16,289,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SABR. Discerene Group LP raised its stake in shares of Sabre by 19.0% during the first quarter. Discerene Group LP now owns 19,231,613 shares of the information technology services provider’s stock worth $46,541,000 after acquiring an additional 3,064,588 shares in the last quarter. Norges Bank purchased a new position in Sabre in the 4th quarter worth $9,139,000. Goldman Sachs Group Inc. raised its position in Sabre by 89.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,727,334 shares of the information technology services provider’s stock worth $16,400,000 after purchasing an additional 1,761,499 shares during the period. Vanguard Group Inc. lifted its stake in Sabre by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 41,643,643 shares of the information technology services provider’s stock worth $183,232,000 after purchasing an additional 1,732,513 shares during the last quarter. Finally, Tidal Investments LLC purchased a new stake in Sabre during the first quarter valued at about $3,463,000. Institutional investors own 89.42% of the company’s stock.

Insider Transactions at Sabre

In other Sabre news, EVP Roshan Mendis bought 19,230 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was bought at an average price of $3.08 per share, for a total transaction of $59,228.40. Following the completion of the acquisition, the executive vice president now directly owns 776,966 shares in the company, valued at $2,393,055.28. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.32% of the company’s stock.

Sabre Stock Down 1.2 %

NASDAQ:SABR opened at $3.22 on Friday. The firm has a market capitalization of $1.24 billion, a P/E ratio of -2.22 and a beta of 1.72. The company has a fifty day moving average of $3.10 and a 200 day moving average of $2.83. Sabre Co. has a 52 week low of $1.81 and a 52 week high of $4.75.

Sabre (NASDAQ:SABR) last posted its earnings results on Thursday, August 1st. The information technology services provider reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The firm had revenue of $767.20 million for the quarter, compared to analysts’ expectations of $752.54 million. During the same quarter in the prior year, the company posted ($0.20) earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, analysts anticipate that Sabre Co. will post -0.29 EPS for the current year.

Analyst Ratings Changes

Separately, StockNews.com raised Sabre from a “hold” rating to a “buy” rating in a research note on Tuesday, June 18th.

About Sabre

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.