Sabre Corporation (SABR) Sees Large Drop in Short Interest

Sabre Corporation (NASDAQ:SABR) saw a large drop in short interest in August. As of August 31st, there was short interest totalling 23,808,205 shares, a drop of 11.0% from the August 15th total of 26,750,397 shares. Based on an average daily volume of 3,122,837 shares, the days-to-cover ratio is presently 7.6 days. Currently, 11.9% of the shares of the company are sold short.

Several brokerages have recently weighed in on SABR. Goldman Sachs Group, Inc. (The) lowered Sabre Corporation from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $25.00 to $20.00 in a report on Monday, September 11th. Jefferies Group LLC raised Sabre Corporation from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Tuesday, August 15th. Zacks Investment Research lowered Sabre Corporation from a “buy” rating to a “sell” rating in a report on Wednesday, August 9th. Bank of America Corporation lowered Sabre Corporation from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $24.00 to $18.00 in a report on Monday, August 7th. Finally, TheStreet lowered Sabre Corporation from a “b” rating to a “c” rating in a report on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $23.22.

Shares of Sabre Corporation (NASDAQ SABR) opened at 18.08 on Wednesday. The company has a 50-day moving average price of $18.33 and a 200 day moving average price of $21.33. The firm has a market cap of $5.04 billion, a price-to-earnings ratio of 38.14 and a beta of 0.74. Sabre Corporation has a 52 week low of $17.30 and a 52 week high of $28.42.

Sabre Corporation (NASDAQ:SABR) last posted its quarterly earnings data on Tuesday, August 1st. The information technology services provider reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.03. Sabre Corporation had a return on equity of 46.16% and a net margin of 3.87%. The firm had revenue of $900.66 million for the quarter, compared to analyst estimates of $895.05 million. During the same quarter last year, the company earned $0.37 EPS. The company’s revenue was up 6.6% on a year-over-year basis. Analysts expect that Sabre Corporation will post $1.35 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 21st will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, September 20th. This represents a $0.56 dividend on an annualized basis and a yield of 3.10%. Sabre Corporation’s dividend payout ratio (DPR) is presently 116.67%.

In other news, insider Hugh W. Jones sold 36,100 shares of Sabre Corporation stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $20.12, for a total transaction of $726,332.00. Following the sale, the insider now owns 82,600 shares of the company’s stock, valued at approximately $1,661,912. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Judson Wade Jones sold 3,822 shares of Sabre Corporation stock in a transaction that occurred 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 directly owns 31,726 shares in the company, valued at approximately $568,529.92. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of SABR. Shell Asset Management Co. increased its stake in Sabre Corporation by 4.6% during the 1st quarter. Shell Asset Management Co. now owns 12,420 shares of the information technology services provider’s stock worth $263,000 after acquiring an additional 547 shares during the period. Russell Investments Group Ltd. increased its stake in Sabre Corporation by 186.4% during the 1st quarter. Russell Investments Group Ltd. now owns 38,681 shares of the information technology services provider’s stock worth $819,000 after acquiring an additional 25,174 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its stake in Sabre Corporation by 18.2% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 16,717 shares of the information technology services provider’s stock worth $354,000 after acquiring an additional 2,578 shares during the period. Wells Fargo & Company MN increased its stake in Sabre Corporation by 10.3% during the 1st quarter. Wells Fargo & Company MN now owns 1,411,050 shares of the information technology services provider’s stock worth $29,900,000 after acquiring an additional 131,527 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Sabre Corporation by 0.9% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 31,646 shares of the information technology services provider’s stock worth $671,000 after acquiring an additional 291 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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