Sabre Corporation (SABR) Short Interest Down 17.4% in August
Sabre Corporation (NASDAQ:SABR) was the recipient of a large drop in short interest in August. As of August 15th, there was short interest totalling 26,750,397 shares, a drop of 17.4% from the July 31st total of 32,390,911 shares. Based on an average daily volume of 4,410,362 shares, the days-to-cover ratio is presently 6.1 days. Approximately 13.3% of the shares of the stock are sold short.
Shares of Sabre Corporation (NASDAQ:SABR) opened at 18.39 on Wednesday. Sabre Corporation has a 12-month low of $17.30 and a 12-month high of $29.45. The company’s 50 day moving average price is $20.05 and its 200 day moving average price is $21.77. The firm has a market cap of $5.12 billion, a P/E ratio of 38.80 and a beta of 0.71.
Sabre Corporation (NASDAQ:SABR) last issued its quarterly earnings results on Tuesday, August 1st. The information technology services provider reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. The company had revenue of $900.66 million for the quarter, compared to the consensus estimate of $895.05 million. Sabre Corporation had a net margin of 3.87% and a return on equity of 46.16%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 EPS. Equities research analysts forecast that Sabre Corporation will post $1.35 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, September 21st will be given a $0.14 dividend. The ex-dividend date is Wednesday, September 20th. This represents a $0.56 annualized dividend and a dividend yield of 3.05%. Sabre Corporation’s payout ratio is presently 116.67%.
A number of brokerages have weighed in on SABR. Jefferies Group LLC raised Sabre Corporation from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Tuesday, August 15th. Zacks Investment Research downgraded Sabre Corporation from a “buy” rating to a “sell” rating in a report on Wednesday, August 9th. Bank of America Corporation downgraded Sabre Corporation from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $24.00 to $18.00 in a report on Monday, August 7th. TheStreet downgraded Sabre Corporation from a “b” rating to a “c” rating in a report on Tuesday, August 1st. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $24.00 target price (down previously from $27.00) on shares of Sabre Corporation in a report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $25.11.
In other Sabre Corporation news, insider Judson Wade Jones sold 3,822 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $17.92, for a total value of $68,490.24. Following the sale, the insider now owns 31,726 shares of the company’s stock, valued at approximately $568,529.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Hugh W. Jones sold 36,100 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $20.12, for a total value of $726,332.00. Following the completion of the sale, the insider now directly owns 82,600 shares in the company, valued at approximately $1,661,912. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.
Several large investors have recently made changes to their positions in SABR. BlackRock Inc. boosted its stake in shares of Sabre Corporation by 51.4% in the second quarter. BlackRock Inc. now owns 23,326,117 shares of the information technology services provider’s stock valued at $507,810,000 after buying an additional 7,919,869 shares during the last quarter. Vanguard Group Inc. raised its position in Sabre Corporation by 4.0% in the second quarter. Vanguard Group Inc. now owns 16,094,899 shares of the information technology services provider’s stock valued at $350,385,000 after buying an additional 619,975 shares during the period. FIL Ltd raised its position in Sabre Corporation by 433.5% in the second quarter. FIL Ltd now owns 10,918,750 shares of the information technology services provider’s stock valued at $237,701,000 after buying an additional 8,872,029 shares during the period. FMR LLC raised its position in Sabre Corporation by 10.7% in the first quarter. FMR LLC now owns 10,733,095 shares of the information technology services provider’s stock valued at $227,434,000 after buying an additional 1,038,669 shares during the period. Finally, Burgundy Asset Management Ltd. raised its position in Sabre Corporation by 4.4% in the first quarter. Burgundy Asset Management Ltd. now owns 9,331,715 shares of the information technology services provider’s stock valued at $197,739,000 after buying an additional 393,440 shares during the period.
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Sabre Corporation Company Profile
Sabre Corporation is a technology solutions provider to the global travel and tourism industry. The Company provides software and services to a range of travel suppliers and travel buyers. The Company operates through two business segments: Travel Network, and Airline and Hospitality Solutions. Travel Network is its global business-to-business travel marketplace and consists primarily of its global distribution system (GDS) and a set of solutions that integrate with its GDS to serve travel suppliers and travel buyers.
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