Louisiana State Employees Retirement System Purchases Shares of 189,900 Sabre Co. (NASDAQ:SABR)

Louisiana State Employees Retirement System purchased a new stake in Sabre Co. (NASDAQ:SABR) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 189,900 shares of the information technology services provider’s stock, valued at approximately $836,000. Louisiana State Employees Retirement System owned about 0.05% of Sabre as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in 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 valued at $179,201,000 after buying an additional 3,665,465 shares during the last quarter. Discerene Group LP raised its stake in Sabre by 3.0% in the third quarter. Discerene Group LP now owns 15,982,725 shares of the information technology services provider’s stock valued at $71,762,000 after buying an additional 461,115 shares during the last quarter. Creative Planning raised its stake in Sabre by 0.5% in 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. Envestnet Asset Management Inc. raised its stake in Sabre by 123.2% in the third quarter. Envestnet Asset Management Inc. now owns 1,106,112 shares of the information technology services provider’s stock valued at $4,966,000 after buying an additional 610,610 shares during the last quarter. Finally, Tudor Investment Corp Et Al raised its stake in Sabre by 76.9% in the third quarter. Tudor Investment Corp Et Al now owns 846,244 shares of the information technology services provider’s stock valued at $3,800,000 after buying an additional 367,772 shares during the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Sabre Stock Up 1.4 %

Sabre stock opened at $2.80 on Friday. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -1.77 and a beta of 1.77. Sabre Co. has a 52 week low of $1.81 and a 52 week high of $5.76. The business’s 50-day moving average price is $2.48 and its 200 day moving average price is $3.47.

Sabre (NASDAQ:SABR) last posted its earnings results on Thursday, February 15th. The information technology services provider reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company had revenue of $687.05 million during the quarter, compared to analysts’ expectations of $707.89 million. Equities analysts expect that Sabre Co. will post -0.21 EPS 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.