Insider Selling: Sabre Corp. (SABR) CEO Sells 198,000 Shares of Stock
Sabre Corp. (NASDAQ:SABR) CEO Thomas Klein sold 198,000 shares of the company’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $26.96, for a total value of $5,338,080.00. Following the completion of the transaction, the chief executive officer now owns 363,018 shares of the company’s stock, valued at $9,786,965.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Sabre Corp. (NASDAQ:SABR) opened at 26.71 on Wednesday. The company has a market capitalization of $7.43 billion, a PE ratio of 15.57 and a beta of 0.86. Sabre Corp. has a 12 month low of $22.03 and a 12 month high of $30.45. The firm has a 50-day moving average price of $27.57 and a 200-day moving average price of $28.00.
Sabre Corp. (NASDAQ:SABR) last issued its earnings results on Tuesday, August 2nd. The company reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.01. Sabre Corp. had a return on equity of 56.62% and a net margin of 14.87%. The company earned $845.20 million during the quarter, compared to the consensus estimate of $852.33 million. During the same period in the previous year, the company posted $0.27 EPS. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. On average, equities research analysts predict that Sabre Corp. will post $1.44 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Wednesday, September 21st will be paid a dividend of $0.13 per share. The ex-dividend date is Monday, September 19th. This represents a $0.52 annualized dividend and a dividend yield of 1.95%. Sabre Corp.’s dividend payout ratio is currently 30.41%.
Several hedge funds and other institutional investors have recently modified their holdings of SABR. Findlay Park Partners LLP increased its position in shares of Sabre Corp. by 6.0% in the first quarter. Findlay Park Partners LLP now owns 6,528,122 shares of the company’s stock valued at $188,793,000 after buying an additional 372,362 shares in the last quarter. Scopia Capital Management LP acquired a new position in shares of Sabre Corp. during the first quarter valued at approximately $177,673,000. Burgundy Asset Management Ltd. increased its position in shares of Sabre Corp. by 21.9% in the second quarter. Burgundy Asset Management Ltd. now owns 5,861,224 shares of the company’s stock valued at $157,022,000 after buying an additional 1,053,285 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Sabre Corp. by 19.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,287,617 shares of the company’s stock valued at $141,655,000 after buying an additional 848,501 shares in the last quarter. Finally, Vulcan Value Partners LLC acquired a new position in shares of Sabre Corp. during the second quarter valued at approximately $131,419,000.
A number of research analysts recently commented on the company. KeyCorp cut their target price on Sabre Corp. from $35.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, August 3rd. Oppenheimer Holdings Inc. cut their target price on Sabre Corp. from $34.00 to $32.00 and set an “outperform” rating for the company in a research note on Wednesday, August 3rd. SunTrust Banks Inc. upgraded Sabre Corp. from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 1st. Morgan Stanley restated a “buy” rating and issued a $38.00 target price on shares of Sabre Corp. in a research note on Wednesday, August 3rd. Finally, Jefferies Group restated a “buy” rating and issued a $33.00 target price on shares of Sabre Corp. in a research note on Tuesday, June 21st. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $33.89.
About Sabre Corp.
Sabre Corporation is a technology solutions provider to the global travel and tourism industry. The Company’s software, data, mobile and distribution solutions are used by hundreds of airlines and thousands of hotel properties to manage critical operations, including passenger and guest reservations, revenue management, flight, network and crew management.
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