State Board of Administration of Florida Retirement System lifted its position in shares of Sabre Co. (NASDAQ:SABR) by 8.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 227,306 shares of the information technology services provider’s stock after acquiring an additional 17,053 shares during the period. State Board of Administration of Florida Retirement System owned 0.08% of Sabre worth $4,876,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in the company. Burgundy Asset Management Ltd. grew its position in shares of Sabre by 29.3% during the fourth quarter. Burgundy Asset Management Ltd. now owns 13,976,268 shares of the information technology services provider’s stock worth $286,513,000 after acquiring an additional 3,169,837 shares during the last quarter. Mackenzie Financial Corp grew its position in Sabre by 70.4% in the 4th quarter. Mackenzie Financial Corp now owns 4,388,602 shares of the information technology services provider’s stock valued at $89,966,000 after buying an additional 1,812,947 shares in the last quarter. Bank of New York Mellon Corp grew its position in Sabre by 19.2% in the 4th quarter. Bank of New York Mellon Corp now owns 3,176,740 shares of the information technology services provider’s stock valued at $65,122,000 after buying an additional 512,788 shares in the last quarter. Miller Howard Investments Inc. NY bought a new position in Sabre in the 4th quarter valued at about $64,563,000. Finally, Schroder Investment Management Group grew its position in Sabre by 16.1% in the 4th quarter. Schroder Investment Management Group now owns 3,076,973 shares of the information technology services provider’s stock valued at $63,078,000 after buying an additional 426,908 shares in the last quarter.
In other Sabre news, major shareholder Group Holdings (Sbs) Advis Tpg sold 8,869,643 shares of the company’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $22.27, for a total value of $197,526,949.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.67% of the stock is currently owned by corporate insiders.
Shares of Sabre opened at $23.88 on Friday, according to Marketbeat Ratings. Sabre Co. has a twelve month low of $17.30 and a twelve month high of $25.00. The company has a debt-to-equity ratio of 4.00, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market capitalization of $6.57 billion, a price-to-earnings ratio of 18.37, a price-to-earnings-growth ratio of 2.56 and a beta of 0.60.
Sabre (NASDAQ:SABR) last issued its quarterly earnings results on Tuesday, May 1st. The information technology services provider reported $0.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.08. Sabre had a net margin of 6.93% and a return on equity of 49.84%. The company had revenue of $988.37 million during the quarter, compared to the consensus estimate of $942.68 million. During the same period in the prior year, the company earned $0.42 EPS. Sabre’s revenue was up 8.0% on a year-over-year basis. equities research analysts forecast that Sabre Co. will post 1.3 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Thursday, June 21st will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Wednesday, June 20th. Sabre’s payout ratio is 43.08%.
A number of equities analysts recently issued reports on SABR shares. Zacks Investment Research lowered shares of Sabre from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. BidaskClub upgraded shares of Sabre from a “strong sell” rating to a “sell” rating in a research report on Saturday, February 17th. Cowen reiterated a “buy” rating and issued a $27.00 target price on shares of Sabre in a research report on Wednesday, March 7th. Deutsche Bank increased their target price on shares of Sabre from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Finally, Imperial Capital started coverage on shares of Sabre in a research report on Thursday, April 19th. They issued an “outperform” rating and a $30.00 target price for the company. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $24.80.
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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