Neuburgh Advisers LLC reduced its holdings in Sabre Corp (NASDAQ:SABR) by 40.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,880 shares of the information technology services provider’s stock after selling 22,902 shares during the quarter. Neuburgh Advisers LLC’s holdings in Sabre were worth $752,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Alpha Windward LLC purchased a new stake in Sabre in the 2nd quarter valued at about $26,000. Financial Gravity Wealth Inc. boosted its position in shares of Sabre by 303.1% in the second quarter. Financial Gravity Wealth Inc. now owns 2,979 shares of the information technology services provider’s stock worth $66,000 after acquiring an additional 2,240 shares during the last quarter. Advisory Services Network LLC boosted its position in shares of Sabre by 29.2% in the second quarter. Advisory Services Network LLC now owns 3,552 shares of the information technology services provider’s stock worth $78,000 after acquiring an additional 802 shares during the last quarter. Commerce Bank acquired a new stake in shares of Sabre in the second quarter worth approximately $210,000. Finally, Tiverton Asset Management LLC purchased a new stake in Sabre in the second quarter valued at approximately $226,000. Hedge funds and other institutional investors own 95.98% of the company’s stock.
Several equities analysts recently commented on the stock. Bank of America reaffirmed a “buy” rating and set a $29.50 price target (up previously from $25.00) on shares of Sabre in a research report on Friday, August 2nd. Mizuho started coverage on shares of Sabre in a report on Thursday, June 6th. They issued a “buy” rating and a $25.00 price target on the stock. Goldman Sachs Group cut shares of Sabre from a “neutral” rating to a “sell” rating and set a $20.00 price objective for the company. in a research note on Wednesday, June 19th. Finally, BidaskClub cut shares of Sabre from a “buy” rating to a “hold” rating in a research note on Saturday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $25.17.
Sabre (NASDAQ:SABR) last posted its quarterly earnings results on Thursday, August 1st. The information technology services provider reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.03. The firm had revenue of $1,000.00 million for the quarter, compared to analyst estimates of $998.29 million. Sabre had a net margin of 6.14% and a return on equity of 34.13%. Sabre’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 earnings per share. As a group, equities research analysts forecast that Sabre Corp will post 0.81 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, September 19th. Sabre’s payout ratio is currently 39.44%.
In other news, insider David J. Shirk sold 10,365 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $22.88, for a total value of $237,151.20. Following the completion of the sale, the insider now owns 100,075 shares of the company’s stock, valued at $2,289,716. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Judson Wade Jones sold 4,300 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $23.74, for a total value of $102,082.00. Following the completion of the sale, the executive vice president now directly owns 49,803 shares of the company’s stock, valued at approximately $1,182,323.22. The disclosure for this sale can be found here. 0.69% of the stock is owned by corporate insiders.
Sabre Corporation, through its subsidiary, Sabre Holdings Corporation, provides technology solutions to the travel and tourism industry worldwide. It operates in three segments: Travel Network, Airline Solutions, and Hospitality Solutions. The Travel Network 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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