Empyrean Capital Partners LP Acquires 1,000,000 Shares of Sabre Corporation $SABR

Empyrean Capital Partners LP lifted its holdings in Sabre Corporation (NASDAQ:SABR) by 40.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,500,000 shares of the information technology services provider’s stock after purchasing an additional 1,000,000 shares during the quarter. Empyrean Capital Partners LP owned 0.90% of Sabre worth $9,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Fifth Third Wealth Advisors LLC purchased a new stake in shares of Sabre during the 1st quarter valued at about $28,000. Blueshift Asset Management LLC bought a new stake in shares of Sabre during the 1st quarter valued at $31,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of Sabre during the 4th quarter valued at $45,000. Abacus Planning Group Inc. bought a new stake in Sabre during the first quarter valued at about $38,000. Finally, Bank of Nova Scotia bought a new stake in Sabre during the 1st quarter valued at approximately $39,000. 89.42% of the stock is currently owned by institutional investors.

Sabre Stock Performance

Shares of SABR opened at $1.79 on Tuesday. The stock has a market capitalization of $706.17 million, a PE ratio of -1.97 and a beta of 1.52. The company has a 50 day moving average price of $2.67 and a 200-day moving average price of $2.81. Sabre Corporation has a fifty-two week low of $1.71 and a fifty-two week high of $4.63.

Sabre (NASDAQ:SABR) last announced its earnings results on Thursday, August 7th. The information technology services provider reported ($0.02) earnings per share (EPS) for the quarter. The business had revenue of $687.15 million during the quarter, compared to analyst estimates of $718.16 million. The company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.05) earnings per share. Equities research analysts forecast that Sabre Corporation will post 0.04 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SABR shares. Morgan Stanley reaffirmed a “reduce” rating on shares of Sabre in a report on Sunday, August 10th. Rothschild & Co Redburn lowered shares of Sabre from a “buy” rating to a “neutral” rating and set a $2.40 target price for the company. in a report on Friday, August 15th. Sanford C. Bernstein upgraded shares of Sabre from a “market perform” rating to an “outperform” rating and cut their price target for the company from $4.00 to $3.00 in a report on Monday, August 11th. Finally, Redburn Atlantic downgraded shares of Sabre from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $3.80.

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.