Credit Suisse AG Lowers Position in Sabre Corporation (NASDAQ:SABR)
Credit Suisse AG decreased its stake in Sabre Corporation (NASDAQ:SABR) by 16.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 212,270 shares of the information technology services provider’s stock after selling 41,332 shares during the period. Credit Suisse AG owned about 0.08% of Sabre Corporation worth $4,498,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its stake in Sabre Corporation by 6,499.9% in the first quarter. BlackRock Inc. now owns 15,406,248 shares of the information technology services provider’s stock valued at $326,459,000 after buying an additional 15,172,817 shares during the last quarter. Cantillon Capital Management LLC purchased a new stake in Sabre Corporation during the first quarter valued at $83,767,000. RidgeWorth Capital Management LLC purchased a new stake in Sabre Corporation during the first quarter valued at $42,937,000. FIL Ltd boosted its stake in Sabre Corporation by 4,541.8% in the first quarter. FIL Ltd now owns 2,046,721 shares of the information technology services provider’s stock valued at $43,370,000 after buying an additional 2,002,628 shares during the last quarter. Finally, Citadel Advisors LLC boosted its stake in Sabre Corporation by 16,814.3% in the first quarter. Citadel Advisors LLC now owns 1,571,148 shares of the information technology services provider’s stock valued at $33,292,000 after buying an additional 1,580,548 shares during the last quarter.
Shares of Sabre Corporation (NASDAQ SABR) traded down 1.25% during trading on Friday, reaching $17.40. The company’s stock had a trading volume of 3,159,380 shares. The stock has a market cap of $4.85 billion, a P/E ratio of 36.71 and a beta of 0.71. Sabre Corporation has a 52-week low of $17.30 and a 52-week high of $29.45. The stock has a 50-day moving average of $20.54 and a 200-day moving average of $22.01.
Sabre Corporation (NASDAQ:SABR) last released its quarterly earnings data on Tuesday, August 1st. The information technology services provider reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.03. The firm had revenue of $900.66 million for the quarter, compared to the consensus estimate of $895.05 million. Sabre Corporation had a return on equity of 46.16% and a net margin of 3.87%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.37 earnings per share. Analysts predict that Sabre Corporation will post $1.36 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, September 21st will be issued a $0.14 dividend. The ex-dividend date is Wednesday, September 20th. This represents a $0.56 annualized dividend and a dividend yield of 3.22%. Sabre Corporation’s dividend payout ratio is currently 116.67%.
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Several research firms recently weighed in on SABR. Cowen and Company reissued an “outperform” rating and set a $23.00 price target (down from $26.00) on shares of Sabre Corporation in a report on Wednesday, August 2nd. Jefferies Group LLC raised Sabre Corporation from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Tuesday. Mizuho reissued a “buy” rating and set a $25.00 price target (down from $27.00) on shares of Sabre Corporation in a report on Wednesday, August 2nd. TheStreet cut Sabre Corporation from a “b” rating to a “c” rating in a report on Tuesday, August 1st. Finally, Zacks Investment Research cut Sabre Corporation from a “buy” rating to a “sell” rating in a report on Wednesday, August 9th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $25.11.
In other news, insider Judson Wade Jones sold 3,822 shares of Sabre Corporation stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $17.92, for a total value of $68,490.24. Following the transaction, the insider now owns 31,726 shares in the company, valued at $568,529.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Hugh W. Jones sold 36,100 shares of Sabre Corporation stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $20.12, for a total value of $726,332.00. Following the completion of the transaction, the insider now owns 82,600 shares in the company, valued at approximately $1,661,912. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.
About Sabre Corporation
Sabre Corporation is a technology solutions provider to the global travel and tourism industry. The Company provides software and services to a range of travel suppliers and travel buyers. The Company operates through two business segments: Travel Network, and Airline and Hospitality Solutions. Travel Network is its global business-to-business travel marketplace and consists primarily of its global distribution system (GDS) and a set of solutions that integrate with its GDS to serve travel suppliers and travel buyers.
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