First Hawaiian Bank purchased a new position in Sabre Corp (NASDAQ:SABR) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,669 shares of the information technology services provider’s stock, valued at approximately $122,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Russell Investments Group Ltd. bought a new stake in shares of Sabre during the second quarter worth $156,000. Cerebellum GP LLC bought a new stake in shares of Sabre during the third quarter worth $185,000. Wilbanks Smith & Thomas Asset Management LLC bought a new stake in shares of Sabre during the second quarter worth $209,000. Janney Montgomery Scott LLC bought a new stake in shares of Sabre during the second quarter worth $217,000. Finally, CIBC Asset Management Inc bought a new stake in shares of Sabre during the second quarter worth $232,000.
In other news, major shareholder Lake Group L.L.C. Silver sold 6,155,616 shares of the firm’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $24.72, for a total transaction of $152,166,827.52. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Group Holdings (Sbs) Advis Tpg sold 10,186,246 shares of the firm’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $24.72, for a total value of $251,804,001.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,427,216 shares of company stock worth $406,162,833. Insiders own 0.67% of the company’s stock.
Sabre (NASDAQ:SABR) last announced its quarterly earnings results on Tuesday, October 30th. The information technology services provider reported $0.39 EPS for the quarter, beating the consensus estimate of $0.35 by $0.04. The firm had revenue of $970.28 million for the quarter, compared to analyst estimates of $944.97 million. Sabre had a return on equity of 45.54% and a net margin of 8.76%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 earnings per share. Sell-side analysts predict that Sabre Corp will post 1.36 earnings per share for the current year.
Several research firms have recently weighed in on SABR. Cowen set a $30.00 target price on Sabre and gave the stock a “buy” rating in a research report on Thursday, July 19th. ValuEngine upgraded Sabre from a “hold” rating to a “buy” rating in a research report on Thursday, July 19th. BidaskClub upgraded Sabre from a “hold” rating to a “buy” rating in a research report on Saturday, July 21st. Zacks Investment Research downgraded Sabre from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 7th. Finally, Morgan Stanley lifted their target price on Sabre from $26.00 to $27.00 and gave the stock a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Sabre presently has a consensus rating of “Hold” and an average price target of $28.00.
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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