The Manufacturers Life Insurance Company Buys 23,802 Shares of Sabre Co. (NASDAQ:SABR)

The Manufacturers Life Insurance Company increased its stake in Sabre Co. (NASDAQ:SABR) by 14.1% during the second quarter, Holdings Channel.com reports. The firm owned 193,055 shares of the information technology services provider’s stock after purchasing an additional 23,802 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Sabre were worth $515,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in 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 purchasing an additional 678,588 shares during the period. Earnest Partners LLC raised its holdings in Sabre by 62.6% during the second quarter. Earnest Partners LLC now owns 33,353,912 shares of the information technology services provider’s stock valued at $89,055,000 after acquiring an additional 12,838,230 shares during the period. Discerene Group LP raised its holdings in 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 valued at $46,541,000 after acquiring an additional 3,064,588 shares during the period. Goldman Sachs Group Inc. raised its holdings in Sabre by 89.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,727,334 shares of the information technology services provider’s stock valued at $16,400,000 after acquiring an additional 1,761,499 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Sabre by 4.8% during the second quarter. Bank of New York Mellon Corp now owns 3,324,270 shares of the information technology services provider’s stock valued at $8,876,000 after acquiring an additional 150,989 shares during the period. 89.42% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Sabre news, EVP Roshan Mendis bought 19,230 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was acquired at an average price of $3.08 per share, for a total transaction of $59,228.40. Following the completion of the transaction, the executive vice president now directly owns 776,966 shares of the company’s stock, valued at approximately $2,393,055.28. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Sabre Trading Up 1.2 %

SABR opened at $3.38 on Wednesday. The firm has a market cap of $1.30 billion, a P/E ratio of -2.73 and a beta of 1.73. Sabre Co. has a 12 month low of $1.81 and a 12 month high of $4.68. The stock has a 50-day moving average of $3.15 and a 200 day moving average of $2.98.

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