Municipal Employees Retirement System of Michigan lowered its stake in shares of Sabre Corp (NASDAQ:SABR) by 20.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,080 shares of the information technology services provider’s stock after selling 16,350 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Sabre were worth $1,142,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. FIL Ltd grew its holdings in shares of Sabre by 433.5% in the 2nd quarter. FIL Ltd now owns 10,918,750 shares of the information technology services provider’s stock worth $237,701,000 after acquiring an additional 8,872,029 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Sabre by 51.4% in the 2nd quarter. BlackRock Inc. now owns 23,326,117 shares of the information technology services provider’s stock worth $507,810,000 after acquiring an additional 7,919,869 shares during the last quarter. State Street Corp grew its holdings in shares of Sabre by 72.5% in the 2nd quarter. State Street Corp now owns 6,514,500 shares of the information technology services provider’s stock worth $141,819,000 after acquiring an additional 2,738,529 shares during the last quarter. Epoch Investment Partners Inc. grew its holdings in shares of Sabre by 133.6% in the 2nd quarter. Epoch Investment Partners Inc. now owns 3,069,058 shares of the information technology services provider’s stock worth $66,813,000 after acquiring an additional 1,754,999 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Sabre by 132.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,656,066 shares of the information technology services provider’s stock worth $57,823,000 after acquiring an additional 1,513,581 shares during the last quarter.
Shares of Sabre Corp (NASDAQ SABR) traded up $0.53 during trading hours on Thursday, hitting $19.72. The company’s stock had a trading volume of 2,054,410 shares, compared to its average volume of 3,053,536. Sabre Corp has a 12 month low of $17.30 and a 12 month high of $27.35. The firm has a market capitalization of $5,433.23, a PE ratio of 15.69, a P/E/G ratio of 4.77 and a beta of 0.76. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 5.29.
Sabre (NASDAQ:SABR) last announced its quarterly earnings results on Tuesday, October 31st. The information technology services provider reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. Sabre had a return on equity of 53.97% and a net margin of 5.22%. The company had revenue of $900.60 million during the quarter, compared to analysts’ expectations of $884.04 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. equities analysts forecast that Sabre Corp will post 1.22 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Thursday, December 21st will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, December 20th. This represents a $0.56 annualized dividend and a dividend yield of 2.84%. Sabre’s dividend payout ratio is presently 83.58%.
A number of brokerages recently issued reports on SABR. Zacks Investment Research upgraded Sabre from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. Jefferies Group upgraded Sabre from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Tuesday, August 15th. Goldman Sachs Group downgraded Sabre from a “buy” rating to a “neutral” rating and lowered their price target for the company from $25.00 to $20.00 in a report on Monday, September 11th. Oppenheimer reiterated a “buy” rating and set a $24.00 price target on shares of Sabre in a report on Wednesday, November 1st. Finally, Deutsche Bank reiterated a “buy” rating and set a $22.00 price target (down previously from $25.00) on shares of Sabre in a report on Monday, October 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $22.63.
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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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