State of Tennessee Treasury Department Takes Position in Sabre Corporation (SABR)
State of Tennessee Treasury Department bought a new stake in Sabre Corporation (NASDAQ:SABR) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 40,000 shares of the information technology services provider’s stock, valued at approximately $871,000.
Several other institutional investors and hedge funds have also recently modified their holdings of SABR. Russell Investments Group Ltd. grew its stake in shares of Sabre Corporation by 186.4% in the 1st quarter. Russell Investments Group Ltd. now owns 38,681 shares of the information technology services provider’s stock valued at $819,000 after buying an additional 25,174 shares during the period. US Bancorp DE lifted its position in Sabre Corporation by 15.1% in the 1st quarter. US Bancorp DE now owns 46,114 shares of the information technology services provider’s stock valued at $977,000 after acquiring an additional 6,060 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Sabre Corporation by 4.1% in the 1st quarter. Bank of New York Mellon Corp now owns 1,142,485 shares of the information technology services provider’s stock valued at $24,209,000 after acquiring an additional 45,138 shares in the last quarter. Comerica Bank lifted its position in Sabre Corporation by 8.4% in the 1st quarter. Comerica Bank now owns 28,611 shares of the information technology services provider’s stock valued at $670,000 after acquiring an additional 2,217 shares in the last quarter. Finally, Karp Capital Management Corp bought a new position in Sabre Corporation in the 1st quarter valued at about $226,000.
Sabre Corporation (SABR) opened at 18.23 on Thursday. Sabre Corporation has a 12 month low of $17.30 and a 12 month high of $28.42. The company has a market cap of $5.08 billion, a PE ratio of 38.46 and a beta of 0.74. The company has a 50-day moving average of $18.33 and a 200 day moving average of $21.33.
Sabre Corporation (NASDAQ:SABR) last announced its quarterly earnings data on Tuesday, August 1st. The information technology services provider reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.03. The business had revenue of $900.66 million for the quarter, compared to analysts’ expectations of $895.05 million. Sabre Corporation had a net margin of 3.87% and a return on equity of 46.16%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.37 earnings per share. On average, equities analysts forecast that Sabre Corporation will post $1.35 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 21st will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Wednesday, September 20th. Sabre Corporation’s dividend payout ratio (DPR) is presently 116.67%.
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SABR has been the topic of several recent research reports. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $24.00 price target (down previously from $27.00) on shares of Sabre Corporation in a research report on Wednesday, August 2nd. Zacks Investment Research cut shares of Sabre Corporation from a “buy” rating to a “sell” rating in a research report on Wednesday, August 9th. Goldman Sachs Group, Inc. (The) cut shares of Sabre Corporation from a “buy” rating to a “neutral” rating and dropped their price target for the company from $25.00 to $20.00 in a research report on Monday, September 11th. Jefferies Group LLC raised shares of Sabre Corporation from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Tuesday, August 15th. Finally, BidaskClub cut shares of Sabre Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $23.22.
In other news, insider Hugh W. Jones sold 36,100 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $20.12, for a total value of $726,332.00. Following the transaction, the insider now owns 82,600 shares in the company, valued at $1,661,912. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Judson Wade Jones sold 3,822 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $17.92, for a total transaction of $68,490.24. Following the completion of the transaction, the insider now owns 31,726 shares in the company, valued at approximately $568,529.92. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.
Sabre Corporation Company Profile
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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