Sumitomo Mitsui Asset Management Company LTD Has $6,109,000 Stake in Sabre Corporation (SABR)
Sumitomo Mitsui Asset Management Company LTD cut its stake in shares of Sabre Corporation (NASDAQ:SABR) by 36.0% during the third quarter, Holdings Channel reports. The institutional investor owned 216,794 shares of the company’s stock after selling 121,686 shares during the period. Sumitomo Mitsui Asset Management Company LTD owned approximately 0.08% of Sabre Corporation worth $6,109,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. Vulcan Value Partners LLC purchased a new stake in shares of Sabre Corporation during the second quarter valued at $131,419,000. Fiera Capital Corp purchased a new stake in shares of Sabre Corporation during the second quarter valued at $57,914,000. Allianz Asset Management AG raised its stake in shares of Sabre Corporation by 134.2% in the second quarter. Allianz Asset Management AG now owns 3,142,323 shares of the company’s stock valued at $84,183,000 after buying an additional 1,800,389 shares in the last quarter. Hitchwood Capital Management LP raised its stake in shares of Sabre Corporation by 145.5% in the second quarter. Hitchwood Capital Management LP now owns 2,700,000 shares of the company’s stock valued at $72,333,000 after buying an additional 1,600,000 shares in the last quarter. Finally, AMI Asset Management Corp purchased a new stake in shares of Sabre Corporation during the third quarter valued at $32,399,000.
Shares of Sabre Corporation (NASDAQ:SABR) traded up 0.5373% during trading on Friday, hitting $25.0941. The stock had a trading volume of 433,767 shares. The stock’s 50-day moving average price is $25.54 and its 200 day moving average price is $26.70. Sabre Corporation has a one year low of $22.03 and a one year high of $29.76. The stock has a market cap of $7.03 billion, a price-to-earnings ratio of 20.4683 and a beta of 0.87.
Sabre Corporation (NASDAQ:SABR) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.06. Sabre Corporation had a net margin of 10.52% and a return on equity of 44.83%. The firm had revenue of $839 million for the quarter, compared to the consensus estimate of $853.31 million. During the same quarter last year, the company earned $0.29 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. On average, equities analysts forecast that Sabre Corporation will post $1.36 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Wednesday, December 21st were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Monday, December 19th. Sabre Corporation’s dividend payout ratio (DPR) is 42.62%.
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Several analysts recently weighed in on SABR shares. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Sabre Corporation in a report on Wednesday, October 19th. Zacks Investment Research lowered Sabre Corporation from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 4th. William Blair reissued an “outperform” rating on shares of Sabre Corporation in a report on Wednesday, November 2nd. Finally, Mizuho lowered their price objective on Sabre Corporation from $32.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, November 3rd. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $33.40.
In related news, insider William G. Robinson, Jr. sold 21,756 shares of the stock in a transaction dated Friday, December 16th. The shares were sold at an average price of $25.32, for a total value of $550,861.92. Following the completion of the sale, the insider now owns 92,693 shares in the company, valued at $2,346,986.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Richard A. Simonson sold 60,254 shares of the stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $24.97, for a total transaction of $1,504,542.38. Following the completion of the sale, the insider now owns 260,663 shares of the company’s stock, valued at approximately $6,508,755.11. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.
About Sabre Corporation
Sabre Corporation is a technology solutions provider to the global travel and tourism industry. The Company’s software, data, mobile and distribution solutions are used by hundreds of airlines and thousands of hotel properties to manage critical operations, including passenger and guest reservations, revenue management, flight, network and crew management.
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