Sumitomo Mitsui Asset Management Company LTD held its stake in Sabre Corp (NASDAQ:SABR) during the second quarter, Holdings Channel reports. The institutional investor owned 16,717 shares of the information technology services provider’s stock at the end of the second quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Sabre Corp were worth $363,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in SABR. Parametrica Management Ltd purchased a new stake in Sabre Corp during the second quarter valued at $206,000. State Treasurer State of Michigan purchased a new stake in Sabre Corp during the second quarter valued at $1,846,000. Aperio Group LLC raised its stake in Sabre Corp 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 buying an additional 18,900 shares in the last quarter. Visionary Asset Management Inc. purchased a new stake in Sabre Corp during the second quarter valued at $319,000. Finally, Louisiana State Employees Retirement System purchased a new stake in Sabre Corp during the second quarter valued at $1,169,000.
Shares of Sabre Corp (SABR) opened at 17.89 on Friday. The firm has a 50-day moving average price of $21.18 and a 200 day moving average price of $22.25. The company has a market capitalization of $4.99 billion, a P/E ratio of 37.74 and a beta of 0.71. Sabre Corp has a 12-month low of $17.81 and a 12-month high of $29.45.
Sabre Corp (NASDAQ:SABR) last announced its quarterly earnings results on Tuesday, August 1st. The information technology services provider reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.03. Sabre Corp had a negative return on equity of 3.22% and a negative net margin of 0.46%. The business had revenue of $900.66 million for the quarter, compared to the consensus estimate of $895.05 million. During the same period last year, the business posted $0.37 EPS. The business’s revenue was up 6.6% compared to the same quarter last year. On average, equities research analysts predict that Sabre Corp will post $1.36 earnings per share for the current year.
The business also recently declared 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 of this dividend is Wednesday, September 20th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.13%. Sabre Corp’s dividend payout ratio is presently 116.67%.
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Several equities research analysts recently weighed in on the company. Zacks Investment Research lowered Sabre Corp from a “buy” rating to a “sell” rating in a research report on Wednesday. Bank of America Corporation lowered Sabre Corp from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $24.00 to $18.00 in a research report on Monday, August 7th. TheStreet lowered Sabre Corp from a “b” rating to a “c” rating in a research report on Tuesday, August 1st. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $24.00 price target (down from $27.00) on shares of Sabre Corp in a research report on Wednesday, August 2nd. Finally, Cowen and Company restated an “outperform” rating and set a $23.00 price target (down from $26.00) on shares of Sabre Corp in a research report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $25.13.
In other news, insider Judson Wade Jones sold 3,822 shares of Sabre Corp stock in a transaction on 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 directly owns 31,726 shares in the company, valued at approximately $568,529.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Hugh W. Jones sold 36,100 shares of Sabre Corp stock in a transaction 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 completion of the transaction, the insider now owns 82,600 shares in the company, valued at $1,661,912. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.
Sabre Corp 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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