Short Interest in Sabre Corp (SABR) Drops By 12.3%
Sabre Corp (NASDAQ:SABR) was the target of a significant decline in short interest in February. As of February 15th, there was short interest totalling 21,676,066 shares, a decline of 12.3% from the January 31st total of 24,715,002 shares. Based on an average daily volume of 3,238,557 shares, the days-to-cover ratio is presently 6.7 days. Approximately 11.0% of the shares of the stock are short sold.
A number of institutional investors have recently added to or reduced their stakes in the business. Burgundy Asset Management Ltd. grew its position in Sabre by 29.3% in the fourth quarter. Burgundy Asset Management Ltd. now owns 13,976,268 shares of the information technology services provider’s stock valued at $286,513,000 after acquiring an additional 3,169,837 shares during the last quarter. Mackenzie Financial Corp grew its position in Sabre by 70.4% in the fourth quarter. Mackenzie Financial Corp now owns 4,388,602 shares of the information technology services provider’s stock valued at $89,966,000 after acquiring an additional 1,812,947 shares during the last quarter. Bank of New York Mellon Corp grew its position in Sabre by 19.2% in the fourth quarter. Bank of New York Mellon Corp now owns 3,176,740 shares of the information technology services provider’s stock valued at $65,122,000 after acquiring an additional 512,788 shares during the last quarter. Miller Howard Investments Inc. NY bought a new position in Sabre in the fourth quarter valued at about $64,563,000. Finally, Schroder Investment Management Group grew its position in Sabre by 16.1% in the fourth quarter. Schroder Investment Management Group now owns 3,076,973 shares of the information technology services provider’s stock valued at $63,078,000 after acquiring an additional 426,908 shares during the last quarter.
Sabre (NASDAQ SABR) opened at $22.93 on Friday. Sabre has a 12-month low of $17.30 and a 12-month high of $25.01. The company has a debt-to-equity ratio of 4.87, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $6,370.00, a PE ratio of 21.84, a price-to-earnings-growth ratio of 3.97 and a beta of 0.55.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Wednesday, March 21st will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Tuesday, March 20th. Sabre’s dividend payout ratio is presently 53.33%.
A number of research analysts recently commented on the company. Zacks Investment Research raised Sabre from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Friday. Deutsche Bank boosted their price target on Sabre from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, February 26th. BidaskClub raised Sabre from a “strong sell” rating to a “sell” rating in a research note on Saturday, February 17th. Mizuho reaffirmed a “buy” rating and issued a $25.00 price target on shares of Sabre in a research note on Thursday, January 25th. Finally, Evercore ISI downgraded Sabre from an “outperform” rating to an “underperform” rating in a research note on Friday, January 5th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. Sabre has an average rating of “Hold” and a consensus price target of $23.33.
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Sabre 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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