325,000 Shares in Sabre Corp (SABR) Acquired by Highbridge Capital Management LLC
Highbridge Capital Management LLC acquired a new position in shares of Sabre Corp (NASDAQ:SABR) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 325,000 shares of the information technology services provider’s stock, valued at approximately $8,476,000. Highbridge Capital Management LLC owned approximately 0.12% of Sabre as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in SABR. First Hawaiian Bank bought a new stake in shares of Sabre during the 3rd quarter worth $122,000. Russell Investments Group Ltd. acquired a new stake in shares of Sabre in the second quarter worth $156,000. Cerebellum GP LLC acquired a new stake in shares of Sabre in the third quarter worth $185,000. Wilbanks Smith & Thomas Asset Management LLC acquired a new stake in shares of Sabre in the second quarter worth $209,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of Sabre in the third quarter worth $211,000. 95.89% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:SABR opened at $25.18 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 3.58. Sabre Corp has a 1 year low of $17.91 and a 1 year high of $26.78. The firm has a market cap of $7.04 billion, a P/E ratio of 19.37, a PEG ratio of 2.69 and a beta of 0.70.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 21st will be issued a dividend of $0.14 per share. The ex-dividend date is Thursday, December 20th. This represents a $0.56 annualized dividend and a dividend yield of 2.22%. Sabre’s dividend payout ratio is 43.08%.
Several analysts have recently commented on the company. BidaskClub raised Sabre from a “hold” rating to a “buy” rating in a research report on Saturday, September 1st. Imperial Capital set a $33.00 price objective on Sabre and gave the stock a “buy” rating in a report on Monday, November 19th. Oppenheimer reiterated a “buy” rating on shares of Sabre in a report on Thursday, November 15th. Morgan Stanley increased their price objective on Sabre from $26.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, October 31st. Finally, Zacks Investment Research lowered Sabre from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $28.14.
In related news, Director Lawrence W. Kellner sold 5,944 shares of the stock in a transaction on Monday, November 26th. The stock was sold at an average price of $25.01, for a total transaction of $148,659.44. Following the completion of the sale, the director now directly owns 214,998 shares in the company, valued at $5,377,099.98. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Jami Kindle sold 8,719 shares of the stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $26.05, for a total value of $227,129.95. Following the sale, the vice president now owns 17,013 shares of the company’s stock, valued at $443,188.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,073 shares of company stock valued at $2,419,193. 0.67% of the stock is owned by corporate insiders.
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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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