Sabre Corporation (NASDAQ:SABR) Position Decreased by Bank of America Corp DE
Bank of America Corp DE lowered its stake in shares of Sabre Corporation (NASDAQ:SABR) by 62.2% during the first quarter, Holdings Channel reports. The firm owned 475,883 shares of the information technology services provider’s stock after selling 784,266 shares during the period. Bank of America Corp DE’s holdings in Sabre Corporation were worth $10,083,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Sabre Corporation by 3.6% in the first quarter. Vanguard Group Inc. now owns 15,474,924 shares of the information technology services provider’s stock valued at $327,913,000 after buying an additional 542,216 shares during the period. BlackRock Inc. increased its position in Sabre Corporation by 6,499.9% in the first quarter. BlackRock Inc. now owns 15,406,248 shares of the information technology services provider’s stock valued at $326,459,000 after buying an additional 15,172,817 shares during the period. FMR LLC increased its position in Sabre Corporation by 10.7% in the first quarter. FMR LLC now owns 10,733,095 shares of the information technology services provider’s stock valued at $227,434,000 after buying an additional 1,038,669 shares during the period. Burgundy Asset Management Ltd. increased its position in Sabre Corporation by 4.4% in the first quarter. Burgundy Asset Management Ltd. now owns 9,331,715 shares of the information technology services provider’s stock valued at $197,739,000 after buying an additional 393,440 shares during the period. Finally, Cantillon Capital Management LLC bought a new position in Sabre Corporation during the first quarter valued at about $83,767,000.
Shares of Sabre Corporation (NASDAQ SABR) opened at 22.28 on Friday. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 29.71 and a beta of 0.71. The company has a 50-day moving average price of $22.19 and a 200-day moving average price of $22.73. Sabre Corporation has a 12 month low of $20.09 and a 12 month high of $29.63.
Sabre Corporation (NASDAQ:SABR) last released its quarterly earnings results on Tuesday, May 2nd. The information technology services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.31 by $0.11. The company had revenue of $915.35 million for the quarter, compared to analyst estimates of $897.62 million. Sabre Corporation had a return on equity of 43.18% and a net margin of 6.22%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. On average, analysts expect that Sabre Corporation will post $1.39 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Wednesday, June 21st were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend was Monday, June 19th. Sabre Corporation’s dividend payout ratio (DPR) is 74.67%.
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SABR has been the topic of several recent analyst reports. TheStreet upgraded shares of Sabre Corporation from a “c” rating to a “b-” rating in a report on Monday, April 17th. Deutsche Bank AG upped their target price on Sabre Corporation from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, May 3rd. Zacks Investment Research upgraded Sabre Corporation from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 13th. BidaskClub lowered Sabre Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 8th. Finally, Morgan Stanley lowered Sabre Corporation from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $26.00 to $24.00 in a research report on Thursday, April 6th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $28.86.
In other Sabre Corporation news, insider Richard A. Simonson sold 36,000 shares of Sabre Corporation stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $24.43, for a total transaction of $879,480.00. Following the transaction, the insider now owns 231,103 shares of the company’s stock, valued at $5,645,846.29. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Richard A. Simonson sold 142,119 shares of Sabre Corporation stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $23.24, for a total value of $3,302,845.56. Following the transaction, the insider now directly owns 333,016 shares in the company, valued at approximately $7,739,291.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 281,117 shares of company stock worth $6,689,297. 1.80% of the stock is currently owned by corporate insiders.
About Sabre Corporation
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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