Short Interest in Sabre Corp (SABR) Increases By 7.4%
Sabre Corp (NASDAQ:SABR) was the target of a significant growth in short interest in May. As of May 15th, there was short interest totalling 29,120,124 shares, a growth of 7.4% from the April 28th total of 27,108,126 shares. Based on an average daily trading volume, of 4,531,092 shares, the days-to-cover ratio is currently 6.4 days. Currently, 14.1% of the company’s shares are sold short.
Shares of Sabre Corp (NASDAQ:SABR) opened at 22.97 on Friday. The stock has a market capitalization of $6.39 billion, a P/E ratio of 30.63 and a beta of 0.85. The firm’s 50-day moving average price is $23.16 and its 200-day moving average price is $23.61. Sabre Corp has a one year low of $20.09 and a one year high of $29.63.
Sabre Corp (NASDAQ:SABR) last issued its quarterly earnings results on Tuesday, May 2nd. The information technology services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.31 by $0.11. Sabre Corp had a net margin of 7.19% and a return on equity of 41.47%. The business had revenue of $915.35 million for the quarter, compared to analysts’ expectations of $897.62 million. During the same quarter last year, the company posted $0.41 earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities research analysts anticipate that Sabre Corp will post $1.39 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Wednesday, June 21st will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, June 19th. This represents a $0.56 annualized dividend and a dividend yield of 2.44%. Sabre Corp’s payout ratio is 61.18%.
SABR has been the subject of several analyst reports. Zacks Investment Research raised Sabre Corp from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Friday, February 3rd. Mizuho lowered their target price on Sabre Corp from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, February 8th. Morgan Stanley lowered their target price on Sabre Corp from $33.00 to $26.00 and set an “overweight” rating for the company in a research note on Wednesday, February 8th. Bank of America Corp cut Sabre Corp from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 14th. Finally, TheStreet raised Sabre Corp from a “c” rating to a “b-” rating in a research note on Monday, April 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. Sabre Corp has a consensus rating of “Buy” and an average price target of $29.63.
In related news, insider Richard A. Simonson sold 12,549 shares of the business’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $22.15, for a total transaction of $277,960.35. Following the completion of the transaction, the insider now directly owns 192,065 shares of the company’s stock, valued at approximately $4,254,239.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard A. Simonson sold 142,119 shares of the business’s stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $23.24, for a total value of $3,302,845.56. Following the transaction, the insider now directly owns 333,016 shares of the company’s stock, valued at $7,739,291.84. The disclosure for this sale can be found here. Insiders sold 472,425 shares of company stock valued at $10,859,769 over the last ninety days. Insiders own 1.80% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Mn Services Vermogensbeheer B.V. boosted its position in shares of Sabre Corp by 4.5% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 5,412 shares of the information technology services provider’s stock valued at $107,000 after buying an additional 232 shares during the last quarter. Capstone Investment Advisors LLC bought a new position in shares of Sabre Corp during the fourth quarter valued at approximately $217,000. WFG Advisors LP boosted its position in shares of Sabre Corp by 449,200.0% in the fourth quarter. WFG Advisors LP now owns 8,986 shares of the information technology services provider’s stock valued at $216,000 after buying an additional 8,984 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in shares of Sabre Corp by 17.8% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 9,529 shares of the information technology services provider’s stock valued at $202,000 after buying an additional 1,442 shares during the last quarter. Finally, Trust Co boosted its position in shares of Sabre Corp by 16.3% in the fourth quarter. Trust Co now owns 9,601 shares of the information technology services provider’s stock valued at $240,000 after buying an additional 1,345 shares during the last quarter.
Sabre Corp 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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