Schwab Charles Investment Management Inc. boosted its stake in shares of Avis Budget Group Inc. (NASDAQ:CAR) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 603,002 shares of the business services provider’s stock after acquiring an additional 14,884 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.74% of Avis Budget Group worth $26,460,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in CAR. CNA Financial Corp purchased a new stake in shares of Avis Budget Group in the third quarter valued at approximately $945,000. 1060 Capital LLC purchased a new stake in shares of Avis Budget Group in the third quarter valued at approximately $25,874,000. Eqis Capital Management Inc. purchased a new stake in shares of Avis Budget Group in the third quarter valued at approximately $380,000. Pacer Advisors Inc. increased its position in shares of Avis Budget Group by 85.8% in the third quarter. Pacer Advisors Inc. now owns 17,209 shares of the business services provider’s stock valued at $655,000 after buying an additional 7,948 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its position in shares of Avis Budget Group by 25.9% in the second quarter. Ameritas Investment Partners Inc. now owns 31,925 shares of the business services provider’s stock valued at $871,000 after buying an additional 6,576 shares in the last quarter.
A number of research firms have recently commented on CAR. BidaskClub cut Avis Budget Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Goldman Sachs Group cut Avis Budget Group from a “neutral” rating to a “sell” rating and cut their price objective for the company from $40.12 to $33.00 in a research report on Wednesday. Barclays boosted their price objective on Avis Budget Group from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 1st. ValuEngine upgraded Avis Budget Group from a “hold” rating to a “buy” rating in a research report on Monday, December 11th. Finally, Northcoast Research restated a “buy” rating on shares of Avis Budget Group in a research report on Tuesday, November 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $37.30.
In other Avis Budget Group news, Chairman Ronald L. Nelson sold 275,000 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $40.22, for a total transaction of $11,060,500.00. Following the transaction, the chairman now owns 473,214 shares of the company’s stock, valued at $19,032,667.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David T. Calabria sold 1,250 shares of the business’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $41.71, for a total value of $52,137.50. Following the transaction, the senior vice president now directly owns 4,412 shares in the company, valued at approximately $184,024.52. The disclosure for this sale can be found here. Insiders have sold 463,750 shares of company stock valued at $18,702,638 over the last quarter. 2.80% of the stock is owned by company insiders.
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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.
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