Bank of New York Mellon Corp increased its stake in shares of Sabre Corp (NASDAQ:SABR) by 16.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,635,948 shares of the information technology services provider’s stock after purchasing an additional 514,770 shares during the quarter. Bank of New York Mellon Corp owned about 1.32% of Sabre worth $89,589,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its holdings in Sabre by 240.3% in the second quarter. Bank of America Corp DE now owns 4,532,334 shares of the information technology services provider’s stock valued at $111,676,000 after buying an additional 3,200,652 shares during the period. BlackRock Inc. lifted its holdings in Sabre by 14.4% in the second quarter. BlackRock Inc. now owns 22,591,322 shares of the information technology services provider’s stock valued at $556,651,000 after buying an additional 2,842,554 shares during the period. First Trust Advisors LP lifted its holdings in Sabre by 2,182.7% in the second quarter. First Trust Advisors LP now owns 1,303,900 shares of the information technology services provider’s stock valued at $32,128,000 after buying an additional 1,246,779 shares during the period. Millennium Management LLC lifted its holdings in Sabre by 99.5% in the second quarter. Millennium Management LLC now owns 2,445,959 shares of the information technology services provider’s stock valued at $60,268,000 after buying an additional 1,219,959 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in Sabre in the second quarter valued at approximately $24,302,000.
In related news, Director Lawrence W. Kellner sold 15,000 shares of the firm’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $25.00, for a total transaction of $375,000.00. Following the sale, the director now directly owns 229,219 shares in the company, valued at $5,730,475. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Judy C. Odom sold 10,000 shares of the firm’s stock in a transaction on Thursday, October 4th. The stock was sold at an average price of $24.78, for a total transaction of $247,800.00. Following the sale, the director now owns 41,039 shares in the company, valued at $1,016,946.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 85,354 shares of company stock worth $2,192,004. Company insiders own 0.67% of the company’s stock.
SABR opened at $25.57 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 3.58. The firm has a market capitalization of $6.84 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 2.56 and a beta of 0.69. Sabre Corp has a twelve month low of $17.91 and a twelve month high of $26.78.
Sabre (NASDAQ:SABR) last posted its earnings results on Tuesday, October 30th. The information technology services provider reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.04. The company had revenue of $970.28 million for the quarter, compared to analyst estimates of $944.97 million. Sabre had a net margin of 8.76% and a return on equity of 45.54%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the business posted $0.31 earnings per share. Research analysts predict that Sabre Corp will post 1.36 earnings per share for the current year.
Several equities analysts recently weighed in on the stock. BidaskClub upgraded shares of Sabre from a “hold” rating to a “buy” rating in a report on Saturday, July 21st. Imperial Capital restated a “buy” rating and issued a $31.00 price objective on shares of Sabre in a report on Wednesday, August 1st. ValuEngine lowered shares of Sabre from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Cowen set a $30.00 target price on shares of Sabre and gave the stock a “buy” rating in a report on Thursday, July 19th. Finally, Morgan Stanley increased their target price on shares of Sabre from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $28.00.
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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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