W Scott Deaver Sells 40,000 Shares of Avis Budget Group Inc. (CAR) Stock

Avis Budget Group Inc. (NASDAQ:CAR) CMO W Scott Deaver sold 40,000 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $39.05, for a total value of $1,562,000.00. Following the completion of the sale, the chief marketing officer now owns 125,674 shares of the company’s stock, valued at $4,907,569.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Avis Budget Group Inc. (NASDAQ CAR) opened at $39.51 on Thursday. The firm has a market capitalization of $3,199.05, a price-to-earnings ratio of 15.05 and a beta of 2.53. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 35.24. Avis Budget Group Inc. has a twelve month low of $20.71 and a twelve month high of $42.40.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings results on Monday, November 6th. The business services provider reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.99 by $0.11. The business 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 company’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.47 EPS. research analysts predict that Avis Budget Group Inc. will post 2.65 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System lifted its stake in Avis Budget Group by 1.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 22,000 shares of the business services provider’s stock worth $600,000 after acquiring an additional 300 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Avis Budget Group by 4.0% during the 2nd quarter. Pacer Advisors Inc. now owns 9,261 shares of the business services provider’s stock worth $253,000 after acquiring an additional 356 shares in the last quarter. Wittenberg Investment Management Inc. lifted its stake in Avis Budget Group by 0.7% during the 2nd quarter. Wittenberg Investment Management Inc. now owns 69,309 shares of the business services provider’s stock worth $1,890,000 after acquiring an additional 500 shares in the last quarter. Thrivent Financial For Lutherans lifted its stake in Avis Budget Group by 3.6% during the 2nd quarter. Thrivent Financial For Lutherans now owns 16,820 shares of the business services provider’s stock worth $459,000 after acquiring an additional 580 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its stake in Avis Budget Group by 1.7% during the 3rd quarter. New York State Common Retirement Fund now owns 90,399 shares of the business services provider’s stock worth $3,441,000 after acquiring an additional 1,494 shares in the last quarter.

Several analysts have issued reports on CAR shares. Desjardins restated a “hold” rating on shares of Avis Budget Group in a report on Friday, August 11th. National Bank Financial restated an “outperform market weight” rating on shares of Avis Budget Group in a report on Friday, August 11th. BidaskClub upgraded Avis Budget Group from a “buy” rating to a “strong-buy” rating in a report on Monday, August 14th. 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. Finally, Goldman Sachs Group reiterated a “hold” rating and set a $37.00 price target on shares of Avis Budget Group in a report on Thursday, September 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $37.70.

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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.

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

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