Canada Pension Plan Investment Board bought a new position in Sabre Corp (NASDAQ:SABR) during the third quarter, HoldingsChannel reports. The firm bought 549,300 shares of the information technology services provider’s stock, valued at approximately $14,326,000.
Several other institutional investors and hedge funds also recently modified their holdings of the company. DekaBank Deutsche Girozentrale raised its holdings in shares of Sabre by 42.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 15,833 shares of the information technology services provider’s stock valued at $446,000 after acquiring an additional 4,707 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Sabre by 59.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 175,175 shares of the information technology services provider’s stock valued at $4,569,000 after acquiring an additional 65,382 shares during the last quarter. FMR LLC raised its holdings in shares of Sabre by 23.2% during the third quarter. FMR LLC now owns 449,885 shares of the information technology services provider’s stock valued at $11,733,000 after acquiring an additional 84,829 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Sabre by 4.2% during the third quarter. BlackRock Inc. now owns 23,542,320 shares of the information technology services provider’s stock valued at $613,983,000 after acquiring an additional 950,998 shares during the last quarter. Finally, Martingale Asset Management L P raised its holdings in shares of Sabre by 356.1% during the third quarter. Martingale Asset Management L P now owns 751,669 shares of the information technology services provider’s stock valued at $19,605,000 after acquiring an additional 586,874 shares during the last quarter. Hedge funds and other institutional investors own 95.89% of the company’s stock.
In related news, insider Richard A. Simonson sold 60,354 shares of the stock in a transaction that occurred on Wednesday, September 26th. The stock was sold at an average price of $26.00, for a total value of $1,569,204.00. Following the completion of the sale, the insider now owns 249,941 shares of the company’s stock, valued at $6,498,466. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Judy C. Odom sold 10,000 shares of the stock in a transaction that occurred on Thursday, October 4th. The shares were sold at an average price of $24.78, for a total value of $247,800.00. Following the completion of the sale, the director now directly owns 41,039 shares of the company’s stock, valued at approximately $1,016,946.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,354 shares of company stock valued at $2,192,063. Insiders own 0.67% of the company’s stock.
Sabre (NASDAQ:SABR) last posted its quarterly earnings results on Tuesday, October 30th. The information technology services provider reported $0.39 EPS for the quarter, beating the consensus estimate of $0.35 by $0.04. Sabre had a return on equity of 45.54% and a net margin of 8.76%. The firm had revenue of $970.28 million during the quarter, compared to analysts’ expectations of $944.97 million. During the same quarter last year, the firm earned $0.31 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities research analysts anticipate that Sabre Corp will post 1.36 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 21st will be issued a $0.14 dividend. The ex-dividend date is Thursday, December 20th. This represents a $0.56 annualized dividend and a dividend yield of 2.14%. Sabre’s dividend payout ratio is presently 43.08%.
A number of brokerages have commented on SABR. BidaskClub raised Sabre from a “hold” rating to a “buy” rating in a report on Saturday, September 1st. Imperial Capital set a $33.00 target price on Sabre and gave the company a “buy” rating in a report on Monday, November 19th. Oppenheimer reissued a “buy” rating on shares of Sabre in a report on Thursday, November 15th. Morgan Stanley increased their target price on Sabre from $26.00 to $27.00 and gave the company a “hold” rating in a report on Wednesday, October 31st. Finally, Zacks Investment Research cut 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 issued a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $28.14.
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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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