The Manufacturers Life Insurance Company Sells 255,783 Shares of Sabre Co. (NASDAQ:SABR)

Posted by Defense World Staff on Jun 10th, 2023

The Manufacturers Life Insurance Company reduced its position in Sabre Co. (NASDAQ:SABR – Get Rating) by 11.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,938,649 shares of the information technology services provider’s stock after selling 255,783 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.59% of Sabre worth $11,981,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of SABR. Raymond James & Associates boosted its stake in shares of Sabre by 8.1% in the 1st quarter. Raymond James & Associates now owns 177,468 shares of the information technology services provider’s stock valued at $2,028,000 after purchasing an additional 13,361 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Sabre by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 3,141,433 shares of the information technology services provider’s stock worth $35,907,000 after acquiring an additional 26,741 shares in the last quarter. MetLife Investment Management LLC raised its holdings in Sabre by 42.6% during the first quarter. MetLife Investment Management LLC now owns 223,500 shares of the information technology services provider’s stock worth $2,555,000 after buying an additional 66,759 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Sabre by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 118,536 shares of the information technology services provider’s stock worth $1,355,000 after buying an additional 11,302 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its holdings in Sabre by 9.7% during the first quarter. Great West Life Assurance Co. Can now owns 181,986 shares of the information technology services provider’s stock worth $2,140,000 after buying an additional 16,079 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SABR shares. Bank of America lowered their target price on shares of Sabre from $6.00 to $5.00 and set an “underperform” rating for the company in a report on Tuesday, April 4th. Morgan Stanley cut their target price on shares of Sabre from $7.00 to $6.50 and set an “equal weight” rating for the company in a research report on Thursday, February 16th. Sanford C. Bernstein upgraded shares of Sabre from an “underperform” rating to a “market perform” rating and set a $3.50 target price for the company in a research report on Monday, May 15th. Mizuho cut their target price on shares of Sabre from $6.00 to $4.00 and set a “neutral” rating for the company in a research report on Monday, April 17th. Finally, StockNews.com assumed coverage on shares of Sabre in a research report on Thursday, May 18th. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $4.75.

Sabre Price Performance

SABR stock opened at $3.33 on Friday. Sabre Co. has a one year low of $3.00 and a one year high of $8.31. The company’s 50 day moving average price is $3.70 and its two-hundred day moving average price is $5.06.

Sabre (NASDAQ:SABR – Get Rating) last posted its quarterly earnings results on Thursday, May 4th. The information technology services provider reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.06. The business had revenue of $742.70 million for the quarter, compared to analysts’ expectations of $727.68 million. As a group, analysts anticipate that Sabre Co. will post -0.75 earnings per share for the current year.

Sabre Company Profile

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Sabre Corp. is a technology solutions provider to the global travel and tourism industry. It provides data-driven business intelligence, mobile, distribution and software-as-a-service solutions. The firm operates through the following segments: Travel Solutions and Hospitality Solutions. The Travel Solutions segment provides global travel for suppliers and buyers through a business-to-business travel marketplace.