Sabre Corporation (SABR) Shares Gap Down Following Insider Selling
Sabre Corporation (NASDAQ:SABR) shares gapped down before the market opened on Tuesday following insider selling activity. The stock had previously closed at $19.24, but opened at $19.13. Sabre Corporation shares last traded at $18.93, with a volume of 984,164 shares traded.
Specifically, insider Richard A. Simonson sold 36,000 shares of the firm’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $24.43, for a total value of $879,480.00. Following the transaction, the insider now directly owns 231,103 shares in the company, valued at approximately $5,645,846.29. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Hugh W. Jones sold 36,100 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was 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 1.00% of the company’s stock.
A number of research firms have recently commented on SABR. Zacks Investment Research upgraded Sabre Corporation from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Friday, June 9th. BidaskClub downgraded Sabre Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, July 8th. Cowen and Company restated an “outperform” rating and issued a $23.00 price objective (down from $26.00) on shares of Sabre Corporation in a report on Wednesday, August 2nd. Deutsche Bank AG raised their price objective on Sabre Corporation from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, May 3rd. Finally, TheStreet upgraded Sabre Corporation from a “c” rating to a “b-” rating in a report on Monday, April 17th. Two analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $26.14.
The stock’s 50 day moving average price is $21.77 and its 200-day moving average price is $22.48. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of 40.06 and a beta of 0.71.
Sabre Corporation (NASDAQ:SABR) last released its quarterly earnings data on Tuesday, August 1st. The information technology services provider reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Sabre Corporation had a return on equity of 46.16% and a net margin of 3.87%. The firm had revenue of $900.66 million during the quarter, compared to analysts’ expectations of $895.05 million. During the same quarter last year, the firm earned $0.37 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities research analysts expect that Sabre Corporation will post $1.36 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 21st will be given 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 2.95%. Sabre Corporation’s dividend payout ratio is currently 116.67%.
Hedge funds have recently made changes to their positions in the company. Creative Planning boosted its stake in shares of Sabre Corporation by 4.7% in the second quarter. Creative Planning now owns 4,578 shares of the information technology services provider’s stock worth $100,000 after buying an additional 205 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Sabre Corporation by 4.5% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 5,412 shares of the information technology services provider’s stock worth $107,000 after buying an additional 232 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Sabre Corporation by 0.9% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 31,646 shares of the information technology services provider’s stock worth $671,000 after buying an additional 291 shares in the last quarter. Princeton Alpha Management LP boosted its stake in shares of Sabre Corporation by 2.8% in the first quarter. Princeton Alpha Management LP now owns 12,311 shares of the information technology services provider’s stock worth $261,000 after buying an additional 336 shares in the last quarter. Finally, Utah Retirement Systems boosted its stake in shares of Sabre Corporation by 1.1% in the second quarter. Utah Retirement Systems now owns 38,100 shares of the information technology services provider’s stock worth $830,000 after buying an additional 400 shares in the last quarter.
Sabre Corporation 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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