Avis Budget Group, Inc. (CAR) Insider Sells $10,255,000.00 in Stock

Avis Budget Group, Inc. (NASDAQ:CAR) insider Ronald L. Nelson sold 250,000 shares of the firm’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $41.02, for a total value of $10,255,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Avis Budget Group, Inc. (CAR) traded down 0.10% during trading on Tuesday, reaching $41.21. The company’s stock had a trading volume of 1,680,198 shares. The company’s 50 day moving average price is $37.57 and its 200 day moving average price is $30.42. Avis Budget Group, Inc. has a 52 week low of $20.71 and a 52 week high of $41.53. The company has a market cap of $3.41 billion, a P/E ratio of 48.54 and a beta of 2.48.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings data on Monday, August 7th. The business services provider reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.32). Avis Budget Group had a return on equity of 74.80% and a net margin of 0.86%. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the prior year, the company earned $0.63 earnings per share. The company’s quarterly revenue was down .2% on a year-over-year basis. On average, equities analysts anticipate that Avis Budget Group, Inc. will post $2.61 earnings per share for the current fiscal year.

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A number of large investors have recently modified their holdings of CAR. Karp Capital Management Corp acquired a new stake in Avis Budget Group in the 1st quarter valued at about $531,000. Ameriprise Financial Inc. lifted its stake in Avis Budget Group by 1.0% in the 1st quarter. Ameriprise Financial Inc. now owns 236,174 shares of the business services provider’s stock valued at $6,986,000 after purchasing an additional 2,294 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Avis Budget Group by 997.5% in the 1st quarter. JPMorgan Chase & Co. now owns 113,684 shares of the business services provider’s stock valued at $3,362,000 after purchasing an additional 103,326 shares during the last quarter. Arizona State Retirement System lifted its stake in Avis Budget Group by 5.6% in the 1st quarter. Arizona State Retirement System now owns 35,800 shares of the business services provider’s stock valued at $1,059,000 after purchasing an additional 1,900 shares during the last quarter. Finally, OppenheimerFunds Inc. lifted its stake in Avis Budget Group by 32.2% in the 1st quarter. OppenheimerFunds Inc. now owns 63,185 shares of the business services provider’s stock valued at $1,869,000 after purchasing an additional 15,408 shares during the last quarter.

A number of research firms recently issued reports on CAR. Morgan Stanley reduced their price objective on Avis Budget Group from $19.00 to $18.00 and set an “underweight” rating for the company in a research report on Friday, August 25th. BidaskClub raised Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 24th. MKM Partners reissued a “buy” rating and set a $40.00 price objective on shares of Avis Budget Group in a research report on Wednesday, June 28th. Deutsche Bank AG reissued a “buy” rating on shares of Avis Budget Group in a research report on Monday, June 26th. Finally, Zacks Investment Research raised Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $37.33.

Avis Budget Group Company Profile

Avis Budget Group Inc is a provider of vehicle rental and car sharing services. The Company operates three brands, which include Avis, Budget and Zipcar. Avis and Budget are a rental car supplier. It also owns Payless, which a car rental brand; Apex, which is a car rental brand in New Zealand and Australia; Maggiore, a vehicle rental brand in Italy, and France Cars, which operates light commercial vehicle fleets in France.

Insider Buying and Selling by Quarter for Avis Budget Group (NASDAQ:CAR)

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