Principal Financial Group Inc. Sells 66,322 Shares of Sabre Co. (NASDAQ:SABR)

Principal Financial Group Inc. reduced its stake in shares of Sabre Co. (NASDAQ:SABR) by 3.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,820,038 shares of the information technology services provider’s stock after selling 66,322 shares during the quarter. Principal Financial Group Inc. owned approximately 0.47% of Sabre worth $6,680,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SABR. BNP Paribas Financial Markets increased its position in Sabre by 20.5% during the 1st quarter. BNP Paribas Financial Markets now owns 166,659 shares of the information technology services provider’s stock valued at $403,000 after purchasing an additional 28,369 shares during the period. Swiss National Bank raised its stake in Sabre by 20.8% in the first quarter. Swiss National Bank now owns 711,900 shares of the information technology services provider’s stock worth $1,723,000 after buying an additional 122,400 shares in the last quarter. ProShare Advisors LLC lifted its holdings in Sabre by 7.2% during the first quarter. ProShare Advisors LLC now owns 67,840 shares of the information technology services provider’s stock worth $164,000 after buying an additional 4,580 shares during the period. Vanguard Group Inc. raised its position in shares of Sabre by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 42,322,231 shares of the information technology services provider’s stock worth $102,420,000 after acquiring an additional 678,588 shares in the last quarter. Finally, UniSuper Management Pty Ltd purchased a new stake in shares of Sabre during the 1st quarter worth $784,000. Institutional investors own 89.42% of the company’s stock.

Wall Street Analysts Forecast Growth

SABR has been the topic of several analyst reports. Sanford C. Bernstein reiterated an “underperform” rating and issued a $3.00 target price on shares of Sabre in a research note on Tuesday. StockNews.com cut shares of Sabre from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $3.50.

Sabre Stock Performance

Shares of SABR stock opened at $3.66 on Wednesday. Sabre Co. has a fifty-two week low of $1.81 and a fifty-two week high of $4.68. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -4.63 and a beta of 1.74. The stock’s 50-day simple moving average is $3.49 and its 200-day simple moving average is $3.15.

Sabre (NASDAQ:SABR) last released its earnings results on Thursday, October 31st. The information technology services provider reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01. The company had revenue of $764.71 million for the quarter, compared to analysts’ expectations of $774.53 million. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.10) EPS. As a group, equities analysts forecast that Sabre Co. will post -0.31 earnings per share for the current year.

Sabre Company 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.