W.E. Donoghue & Co. LLC cut its holdings in shares of Sabre Corp (NASDAQ:SABR) by 40.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,160 shares of the information technology services provider’s stock after selling 18,844 shares during the quarter. W.E. Donoghue & Co. LLC’s holdings in Sabre were worth $625,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in SABR. Trexquant Investment LP purchased a new stake in Sabre in the 1st quarter worth about $1,217,000. Brookstone Capital Management increased its holdings in Sabre by 221.6% in the 1st quarter. Brookstone Capital Management now owns 38,874 shares of the information technology services provider’s stock worth $832,000 after acquiring an additional 26,788 shares during the last quarter. Hanson & Doremus Investment Management increased its holdings in Sabre by 10.4% in the 1st quarter. Hanson & Doremus Investment Management now owns 38,820 shares of the information technology services provider’s stock worth $830,000 after acquiring an additional 3,644 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in Sabre in the 1st quarter worth about $231,000. Finally, Sumitomo Mitsui Asset Management Company LTD increased its holdings in Sabre by 5.6% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 14,975 shares of the information technology services provider’s stock worth $320,000 after acquiring an additional 799 shares during the last quarter. 91.14% of the stock is owned by hedge funds and other institutional investors.
In other Sabre news, insider David J. Shirk sold 10,365 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $22.88, for a total value of $237,151.20. Following the completion of the transaction, the insider now owns 100,075 shares in the company, valued at approximately $2,289,716. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.69% of the stock is owned by company insiders.
Sabre (NASDAQ:SABR) last issued its earnings results on Thursday, August 1st. The information technology services provider reported $0.19 EPS for the quarter, topping the consensus estimate of $0.16 by $0.03. Sabre had a return on equity of 39.46% and a net margin of 7.80%. The business had revenue of $1,000.00 million during the quarter, compared to the consensus estimate of $998.29 million. During the same quarter last year, the company earned $0.37 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. Sell-side analysts forecast that Sabre Corp will post 0.8 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 20th will be paid a $0.14 dividend. The ex-dividend date is Thursday, September 19th. This represents a $0.56 annualized dividend and a yield of 2.24%. Sabre’s dividend payout ratio is currently 39.44%.
Several equities research analysts recently weighed in on the company. Bank of America reissued a “buy” rating and issued a $29.50 price objective (up previously from $25.00) on shares of Sabre in a report on Friday. William Blair lowered Sabre from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 30th. Zacks Investment Research raised Sabre from a “sell” rating to a “hold” rating in a report on Monday, May 6th. Mizuho assumed coverage on Sabre in a report on Thursday, June 6th. They issued a “buy” rating and a $25.00 price objective for the company. Finally, Imperial Capital decreased their price objective on Sabre from $33.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $25.17.
Sabre Company Profile
Sabre Corporation, through its subsidiary, Sabre Holdings Corporation, provides technology solutions to the travel and tourism industry worldwide. It operates in three segments: Travel Network, Airline Solutions, and Hospitality Solutions. The Travel Network segment operates as a business-to-business travel marketplace that offers travel content, such as inventory, prices, and availability from a range of travel suppliers, including airlines, hotels, car rental brands, rail carriers, cruise lines, and tour operators with a network of travel buyers comprising online and offline travel agencies, travel management companies, and corporate travel departments.
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