Insider Selling: Avis Budget Group, Inc. (CAR) Director Sells $52,530.00 in Stock

Avis Budget Group, Inc. (NASDAQ:CAR) Director Stender E. Sweeney sold 1,500 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $35.02, for a total value of $52,530.00. Following the completion of the sale, the director now owns 1,359 shares of the company’s stock, valued at $47,592.18. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Shares of Avis Budget Group, Inc. (NASDAQ CAR) opened at 37.74 on Monday. The firm has a 50-day moving average price of $33.40 and a 200-day moving average price of $29.35. Avis Budget Group, Inc. has a 52-week low of $20.71 and a 52-week high of $41.53. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 44.45 and a beta of 2.44.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings results on Monday, August 7th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.32. Avis Budget Group had a net margin of 0.86% and a return on equity of 74.80%. The firm had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same period last year, the firm posted $0.63 EPS. Avis Budget Group’s revenue was down .2% on a year-over-year basis. Analysts predict that Avis Budget Group, Inc. will post $2.54 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC boosted its position in shares of Avis Budget Group by 24.9% in the first quarter. Janney Montgomery Scott LLC now owns 11,866 shares of the business services provider’s stock worth $351,000 after buying an additional 2,366 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Avis Budget Group in the first quarter worth about $592,000. Parametric Portfolio Associates LLC boosted its position in shares of Avis Budget Group by 24.7% in the first quarter. Parametric Portfolio Associates LLC now owns 483,406 shares of the business services provider’s stock worth $14,299,000 after buying an additional 95,628 shares during the period. Credit Suisse AG boosted its position in shares of Avis Budget Group by 105.4% in the first quarter. Credit Suisse AG now owns 471,124 shares of the business services provider’s stock worth $13,936,000 after buying an additional 241,739 shares during the period. Finally, California Public Employees Retirement System boosted its position in shares of Avis Budget Group by 1.2% in the first quarter. California Public Employees Retirement System now owns 393,733 shares of the business services provider’s stock worth $11,647,000 after buying an additional 4,500 shares during the period.

A number of equities analysts have recently weighed in on the company. BidaskClub upgraded Avis Budget Group from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Goldman Sachs Group, Inc. (The) reiterated a “hold” rating and set a $37.00 price target on shares of Avis Budget Group in a report on Thursday. Morgan Stanley lowered their price target on Avis Budget Group from $19.00 to $18.00 and set an “underweight” rating for the company in a report on Friday, August 25th. ValuEngine cut Avis Budget Group from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Finally, Zacks Investment Research cut Avis Budget Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Avis Budget Group currently has a consensus rating of “Hold” and an average price target of $36.22.

About Avis Budget Group

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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