Lateef Investment Management L.P. Decreases Position in Sabre Corp (SABR)
Lateef Investment Management L.P. reduced its stake in shares of Sabre Corp (NASDAQ:SABR) by 11.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,058,524 shares of the information technology services provider’s stock after selling 132,134 shares during the quarter. Sabre makes up approximately 1.7% of Lateef Investment Management L.P.’s portfolio, making the stock its 26th largest position. Lateef Investment Management L.P. owned about 0.39% of Sabre worth $19,159,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in Sabre by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 687,316 shares of the information technology services provider’s stock valued at $14,566,000 after acquiring an additional 5,659 shares during the last quarter. Capstone Asset Management Co. acquired a new stake in Sabre in the second quarter valued at approximately $369,000. Creative Planning lifted its stake in Sabre by 4.7% in the second quarter. Creative Planning now owns 4,578 shares of the information technology services provider’s stock valued at $100,000 after acquiring an additional 205 shares during the last quarter. Aperio Group LLC lifted its stake in Sabre by 177.4% in the second quarter. Aperio Group LLC now owns 29,553 shares of the information technology services provider’s stock valued at $643,000 after acquiring an additional 18,900 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its stake in Sabre by 157.0% in the second quarter. Great West Life Assurance Co. Can now owns 164,367 shares of the information technology services provider’s stock valued at $3,575,000 after acquiring an additional 100,423 shares during the last quarter.
A number of analysts have issued reports on the stock. Oppenheimer reiterated a “buy” rating and issued a $24.00 target price on shares of Sabre in a research note on Wednesday, November 1st. TheStreet upgraded shares of Sabre from a “c” rating to a “b-” rating in a research note on Monday, November 27th. Zacks Investment Research cut shares of Sabre from a “buy” rating to a “sell” rating in a research note on Wednesday, August 9th. Cowen set a $23.00 target price on shares of Sabre and gave the company a “buy” rating in a research note on Thursday, October 12th. Finally, Deutsche Bank reiterated a “buy” rating and issued a $22.00 target price (down from $25.00) on shares of Sabre in a research note on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. Sabre has a consensus rating of “Hold” and an average target price of $22.63.
Sabre (NASDAQ:SABR) last released its quarterly earnings results on Tuesday, October 31st. The information technology services provider reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.07. Sabre had a net margin of 5.22% and a return on equity of 53.97%. The company had revenue of $900.60 million for the quarter, compared to analyst estimates of $884.04 million. During the same quarter last year, the firm posted $0.27 earnings per share. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. sell-side analysts forecast that Sabre Corp will post 1.22 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Thursday, December 21st will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend is Wednesday, December 20th. Sabre’s dividend payout ratio is 83.58%.
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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