American International Group Inc. increased its holdings in shares of Sabre Corp (NASDAQ:SABR) by 13.0% during the second quarter, HoldingsChannel.com reports. The fund owned 509,533 shares of the information technology services provider’s stock after buying an additional 58,676 shares during the period. American International Group Inc.’s holdings in Sabre were worth $12,555,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the stock. Cambiar Investors LLC grew its holdings in Sabre by 1.1% during the second quarter. Cambiar Investors LLC now owns 203,485 shares of the information technology services provider’s stock worth $5,014,000 after acquiring an additional 2,127 shares during the period. Riverhead Capital Management LLC grew its holdings in Sabre by 8.9% in the first quarter. Riverhead Capital Management LLC now owns 28,180 shares of the information technology services provider’s stock valued at $605,000 after purchasing an additional 2,300 shares during the last quarter. Flinton Capital Management LLC grew its holdings in Sabre by 8.9% in the first quarter. Flinton Capital Management LLC now owns 28,662 shares of the information technology services provider’s stock valued at $615,000 after purchasing an additional 2,346 shares during the last quarter. Natixis Advisors L.P. grew its holdings in Sabre by 10.2% in the first quarter. Natixis Advisors L.P. now owns 27,802 shares of the information technology services provider’s stock valued at $596,000 after purchasing an additional 2,565 shares during the last quarter. Finally, LS Investment Advisors LLC grew its holdings in Sabre by 13.8% in the second quarter. LS Investment Advisors LLC now owns 21,180 shares of the information technology services provider’s stock valued at $522,000 after purchasing an additional 2,567 shares during the last quarter.
Sabre stock opened at $25.26 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 3.83. The firm has a market capitalization of $6.92 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 2.68 and a beta of 0.65. Sabre Corp has a fifty-two week low of $17.47 and a fifty-two week high of $26.78.
Sabre (NASDAQ:SABR) last issued its quarterly earnings data on Tuesday, July 31st. The information technology services provider reported $0.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.02. Sabre had a return on equity of 47.59% and a net margin of 9.41%. The business had revenue of $984.38 million for the quarter, compared to the consensus estimate of $946.40 million. During the same period in the prior year, the business earned $0.35 earnings per share. The business’s revenue was up 9.3% on a year-over-year basis. equities analysts predict that Sabre Corp will post 1.31 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 21st will be given a $0.14 dividend. The ex-dividend date is Thursday, September 20th. This represents a $0.56 annualized dividend and a dividend yield of 2.22%. Sabre’s dividend payout ratio is currently 43.08%.
In other news, Director Lawrence W. Kellner sold 4,332 shares of the company’s stock in a transaction on Monday, June 4th. The stock was sold at an average price of $25.05, for a total value of $108,516.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider David J. Shirk sold 11,899 shares of the company’s stock in a transaction on Monday, June 18th. The shares were sold at an average price of $26.02, for a total value of $309,611.98. The disclosure for this sale can be found here. Insiders sold 27,230,303 shares of company stock worth $670,231,359 over the last 90 days. Company insiders own 0.67% of the company’s stock.
Several analysts have weighed in on the company. Cowen set a $30.00 target price on Sabre and gave the company a “buy” rating in a report on Thursday, July 19th. ValuEngine raised Sabre from a “hold” rating to a “buy” rating in a report on Thursday, July 19th. BidaskClub raised Sabre from a “hold” rating to a “buy” rating in a report on Wednesday, June 13th. Zacks Investment Research lowered Sabre from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 7th. Finally, Deutsche Bank upped their target price on Sabre from $25.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, June 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. Sabre currently has an average rating of “Hold” and an average target price of $26.63.
Sabre Corporation, through its subsidiary, Sabre Holdings Corporation, provides technology solutions to the travel and tourism industry worldwide. It operates through two segments, Travel Network, and Airline 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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