PNC Financial Services Group Inc. increased its position in Sabre Corp. (NASDAQ:SABR) by 81.3% during the second quarter, Holdings Channel reports. The fund owned 12,133 shares of the company’s stock after buying an additional 5,442 shares during the period. PNC Financial Services Group Inc.’s holdings in Sabre Corp. were worth $324,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in SABR. Scopia Capital Management LP acquired a new stake in Sabre Corp. during the first quarter valued at approximately $177,673,000. Burgundy Asset Management Ltd. boosted its stake in Sabre Corp. by 502.1% in the first quarter. Burgundy Asset Management Ltd. now owns 4,807,939 shares of the company’s stock valued at $139,046,000 after buying an additional 4,009,454 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Sabre Corp. by 3,995.2% in the first quarter. JPMorgan Chase & Co. now owns 2,280,994 shares of the company’s stock valued at $65,966,000 after buying an additional 2,225,295 shares in the last quarter. Cannell Peter B & Co Inc acquired a new stake in Sabre Corp. during the first quarter valued at approximately $51,764,000. Finally, Altrinsic Global Advisors LLC acquired a new stake in Sabre Corp. during the first quarter valued at approximately $30,518,000.
Sabre Corp. (NASDAQ:SABR) traded up 2.560% during midday trading on Thursday, hitting $28.245. The stock had a trading volume of 2,179,442 shares. The stock’s 50-day moving average is $27.66 and its 200-day moving average is $27.98. The company has a market cap of $7.85 billion, a P/E ratio of 16.460 and a beta of 0.86. Sabre Corp. has a one year low of $22.03 and a one year high of $30.46.
Sabre Corp. (NASDAQ:SABR) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $845.20 million for the quarter, compared to the consensus estimate of $852.33 million. Sabre Corp. had a return on equity of 56.62% and a net margin of 14.87%. The company’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.27 earnings per share. Equities analysts predict that Sabre Corp. will post $1.44 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Wednesday, September 21st will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Monday, September 19th. Sabre Corp.’s dividend payout ratio (DPR) is currently 30.41%.
Several analysts recently commented on the company. Morgan Stanley restated a “buy” rating and issued a $38.00 target price on shares of Sabre Corp. in a research report on Monday, September 12th. Jefferies Group restated a “buy” rating and issued a $33.00 target price on shares of Sabre Corp. in a research report on Tuesday, June 21st. Oppenheimer Holdings Inc. lowered their target price on Sabre Corp. from $34.00 to $32.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 3rd. Evercore ISI restated a “buy” rating on shares of Sabre Corp. in a research report on Tuesday, June 21st. Finally, SunTrust Banks Inc. upgraded Sabre Corp. from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 1st. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $33.89.
In other news, insider Deborah Kerr sold 45,000 shares of Sabre Corp. stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $29.28, for a total value of $1,317,600.00. Following the completion of the transaction, the insider now owns 163,885 shares in the company, valued at $4,798,552.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas Klein sold 198,000 shares of Sabre Corp. stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $26.96, for a total transaction of $5,338,080.00. Following the completion of the transaction, the chief executive officer now owns 363,018 shares of the company’s stock, valued at approximately $9,786,965.28. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.
About Sabre Corp.
Sabre Corporation is a technology solutions provider to the global travel and tourism industry. The Company’s software, data, mobile and distribution solutions are used by hundreds of airlines and thousands of hotel properties to manage critical operations, including passenger and guest reservations, revenue management, flight, network and crew management.
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