Envestnet Asset Management Inc. boosted its stake in Saber Co. (NASDAQ:SABR – Get Rating) by 22.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 999,589 shares of the information technology services provider’s stock after purchasing an additional 181,029 shares during the quarter. Envestnet Asset Management Inc. owned about 0.31% of Saber worth $11,425,000 as of its most recent SEC filing.
Several other hedge funds and institutional investors have also recently purchased and sold other shares of SABR. ProShare Advisors LLC increased its position in Saber by 30.8% in the 4th quarter. ProShare Advisors LLC now owns 29,253 shares of the information technology services provider’s stock valued at $252,000 after buying an additional 6,888 shares in the last quarter. Bouvel Investment Partners LLC increased its holdings in shares of Saber by 2.7% during the first quarter. Bouvel Investment Partners LLC now owns 210,884 shares of the information technology services provider’s stock valued at $2,410,000 after acquiring an additional 5,621 shares in the last quarter. Causeway Capital Management LLC raised its position in shares of Saber by 33.0% during the fourth quarter. Causeway Capital Management LLC now owns 10,465,402 shares of the information technology services provider’s stock worth $89,898,000 after purchasing an additional 2,597,951 shares during the period. First Trust Advisors LP bought a new position in shares of Saber in the 4th quarter worth $743,000. Finally, Advisor Partners LLC acquired a new stake in Saber in the 4th quarter valued at $122,000.
Saber Stock Up 0.9%
Shares of NASDAQ SABR opened at $7.50 on Friday. The company has a market capitalization of $2.46 billion, a PE ratio of -4.12 and a beta of 1.82. The stock’s 50-day moving average price is $6.52 and its 200-day moving average price is $8.57. Saber Co. has a twelve month low of $5.45 and a twelve month high of $12.65.
Saber (NASDAQ:SABR – Get Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The information technology services provider reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.06. The company had revenue of $657.53 million during the quarter, compared to analysts’ expectations of $649.71 million. During the same period last year, the firm posted ($0.61) earnings per share. Saber’s quarterly revenue was up 56.7% compared to the same quarter last year. As a group, research analysts expect that Saber Co. will post -1.57 EPS for the current fiscal year.
Analysts Set New Price Targets
Several research firms have weighed in on SABR. Bank of America upgraded shares of Saber from an “underperform” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Wednesday, July 6th. StockNews.com upgraded Saber from a “sell” rating to a “hold” rating in a research note on Sunday, May 8th. Morgan Stanley lowered their price objective on Saber from $13.00 to $10.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 12th. Finally, Mizuho lifted their target price on Saber from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Wednesday.
Saber Corporation, through its subsidiary, Saber Holdings Corporation, provides software and technology solutions for the travel industry worldwide. It operates in two segments, Travel Solutions and Hospitality Solutions. The Travel Solutions segment operates as 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.
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