Lateef Investment Management L.P. Has $351,000 Holdings in Sabre Corp (SABR)
Lateef Investment Management L.P. trimmed its position in shares of Sabre Corp (NASDAQ:SABR) by 98.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,246 shares of the information technology services provider’s stock after selling 904,759 shares during the period. Lateef Investment Management L.P.’s holdings in Sabre were worth $351,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of SABR. Burgundy Asset Management Ltd. boosted its stake in Sabre by 29.6% during the 1st quarter. Burgundy Asset Management Ltd. now owns 18,117,265 shares of the information technology services provider’s stock valued at $388,615,000 after purchasing an additional 4,140,997 shares during the period. Sound Shore Management Inc. CT raised its position in shares of Sabre by 45.4% during the 1st quarter. Sound Shore Management Inc. CT now owns 8,307,383 shares of the information technology services provider’s stock worth $178,193,000 after buying an additional 2,592,886 shares in the last quarter. BlackRock Inc. raised its position in shares of Sabre by 8.0% during the 1st quarter. BlackRock Inc. now owns 19,748,768 shares of the information technology services provider’s stock worth $423,609,000 after buying an additional 1,458,040 shares in the last quarter. First Trust Advisors LP raised its position in shares of Sabre by 2,182.7% during the 2nd quarter. First Trust Advisors LP now owns 1,303,900 shares of the information technology services provider’s stock worth $32,128,000 after buying an additional 1,246,779 shares in the last quarter. Finally, Mackay Shields LLC bought a new stake in shares of Sabre during the 1st quarter worth about $19,215,000.
In other news, major shareholder Lake Group L.L.C. Silver sold 6,155,616 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $24.72, for a total transaction of $152,166,827.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Lawrence W. Kellner sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $25.00, for a total transaction of $375,000.00. Following the sale, the director now owns 229,219 shares in the company, valued at approximately $5,730,475. The disclosure for this sale can be found here. Insiders sold a total of 27,230,303 shares of company stock worth $670,231,359 over the last quarter. Insiders own 0.67% of the company’s stock.
Sabre (NASDAQ:SABR) last released its earnings results on Tuesday, July 31st. The information technology services provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. Sabre had a net margin of 9.41% and a return on equity of 47.59%. 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 previous year, the firm earned $0.35 EPS. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. research analysts expect that Sabre Corp will post 1.31 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 21st will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, September 20th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.24%. Sabre’s payout ratio is currently 43.08%.
A number of research firms have commented on SABR. Zacks Investment Research downgraded shares of Sabre from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 7th. Imperial Capital restated a “buy” rating and set a $31.00 price target on shares of Sabre in a research report on Wednesday, August 1st. Morgan Stanley boosted their price target on shares of Sabre from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 1st. ValuEngine downgraded shares of Sabre from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. Finally, BidaskClub downgraded shares of Sabre from a “buy” rating to a “hold” rating in a research report on Saturday, July 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $26.63.
Sabre Company Profile
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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