Sabre Corp (NASDAQ:SABR) Short Interest Update
Sabre Corp (NASDAQ:SABR) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 7,242,100 shares, a drop of 13.6% from the July 31st total of 8,385,000 shares. Based on an average daily volume of 1,920,000 shares, the days-to-cover ratio is presently 3.8 days. Currently, 2.7% of the company’s shares are sold short.
SABR has been the topic of a number of analyst reports. Bank of America restated a “buy” rating and issued a $29.50 price objective (up previously from $25.00) on shares of Sabre in a research report on Friday, August 2nd. Goldman Sachs Group cut shares of Sabre from a “neutral” rating to a “sell” rating and set a $20.00 price objective on the stock. in a research report on Wednesday, June 19th. BidaskClub cut shares of Sabre from a “buy” rating to a “hold” rating in a research report on Saturday, September 7th. Finally, Mizuho initiated coverage on shares of Sabre in a research report on Thursday, June 6th. They issued a “buy” rating and a $25.00 price objective on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $25.17.
Shares of SABR stock traded up $0.02 during mid-day trading on Friday, reaching $23.48. The stock had a trading volume of 32,748 shares, compared to its average volume of 1,553,690. The stock’s 50-day moving average price is $23.94 and its two-hundred day moving average price is $22.29. Sabre has a 52-week low of $19.41 and a 52-week high of $26.62. The firm has a market capitalization of $6.45 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 5.05 and a beta of 0.77. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 3.59.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Thursday, September 19th. Sabre’s payout ratio is 39.44%.
In related news, insider David J. Shirk sold 10,365 shares of Sabre stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $22.88, for a total value of $237,151.20. Following 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 is available through the SEC website. Also, EVP Judson Wade Jones sold 4,300 shares of Sabre stock in a transaction on Friday, September 6th. The stock was sold at an average price of $23.74, for a total transaction of $102,082.00. Following the completion of the transaction, the executive vice president now owns 49,803 shares in the company, valued at approximately $1,182,323.22. The disclosure for this sale can be found here. 0.69% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Alpha Windward LLC bought a new stake in shares of Sabre during the 2nd quarter valued at about $26,000. Rehmann Capital Advisory Group bought a new stake in shares of Sabre during the 2nd quarter valued at about $43,000. Point72 Hong Kong Ltd bought a new stake in shares of Sabre during the 2nd quarter valued at about $56,000. Financial Gravity Wealth Inc. boosted its stake in shares of Sabre by 303.1% during the 2nd quarter. Financial Gravity Wealth Inc. now owns 2,979 shares of the information technology services provider’s stock valued at $66,000 after purchasing an additional 2,240 shares in the last quarter. Finally, Advisory Services Network LLC boosted its stake in shares of Sabre by 29.2% during the 2nd quarter. Advisory Services Network LLC now owns 3,552 shares of the information technology services provider’s stock valued at $78,000 after purchasing an additional 802 shares in the last quarter. 95.98% of the stock is currently owned by hedge funds and other institutional investors.
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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