Avis Budget Group, Inc. (CAR) Director John D. Jr. Hardy Sells 831 Shares

Avis Budget Group, Inc. (NASDAQ:CAR) Director John D. Jr. Hardy sold 831 shares of Avis Budget Group stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $35.36, for a total transaction of $29,384.16. Following the completion of the transaction, the director now directly owns 831 shares in the company, valued at approximately $29,384.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Avis Budget Group, Inc. (CAR) opened at $32.96 on Tuesday. The stock has a market capitalization of $2,724.36, a price-to-earnings ratio of 12.82 and a beta of 2.57. Avis Budget Group, Inc. has a twelve month low of $20.71 and a twelve month high of $42.40. The company has a debt-to-equity ratio of 35.24, a quick ratio of 1.28 and a current ratio of 1.28.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings data on Monday, November 6th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.99 by $0.11. The company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.78 billion. Avis Budget Group had a return on equity of 95.28% and a net margin of 1.26%. The business’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the business earned $2.47 earnings per share. equities research analysts anticipate that Avis Budget Group, Inc. will post 2.6 EPS for the current year.

The business also recently disclosed a monthly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were issued a dividend of $0.107 per share. The ex-dividend date was Thursday, September 28th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.90%.

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Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in shares of Avis Budget Group by 18.0% in the second quarter. BlackRock Inc. now owns 8,895,289 shares of the business services provider’s stock valued at $242,574,000 after buying an additional 1,355,238 shares during the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of Avis Budget Group by 7.0% in the second quarter. Diamond Hill Capital Management Inc. now owns 6,131,332 shares of the business services provider’s stock valued at $167,201,000 after buying an additional 401,401 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Avis Budget Group by 1.9% in the third quarter. Bank of New York Mellon Corp now owns 4,534,212 shares of the business services provider’s stock valued at $172,573,000 after buying an additional 83,974 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in shares of Avis Budget Group by 18.6% in the second quarter. Neuberger Berman Group LLC now owns 3,482,454 shares of the business services provider’s stock valued at $94,967,000 after buying an additional 547,233 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Avis Budget Group by 21.6% in the second quarter. State Street Corp now owns 2,951,521 shares of the business services provider’s stock valued at $80,487,000 after buying an additional 524,807 shares during the last quarter.

CAR has been the topic of a number of recent analyst reports. BidaskClub raised shares of Avis Budget Group from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Zacks Investment Research lowered shares of Avis Budget Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. J P Morgan Chase & Co initiated coverage on shares of Avis Budget Group in a research report on Friday, August 4th. They issued an “overweight” rating and a $39.00 price target on the stock. ValuEngine lowered shares of Avis Budget Group from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Finally, Desjardins reissued a “hold” rating on shares of Avis Budget Group in a research report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $37.70.

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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