Avis Budget Group Inc. (CAR) Insider Sells $4,090,000.00 in Stock

Avis Budget Group Inc. (NASDAQ:CAR) insider Ronald L. Nelson sold 100,000 shares of the stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $40.90, for a total value of $4,090,000.00. Following the transaction, the insider now directly owns 360,714 shares in the company, valued at approximately $14,753,202.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Shares of Avis Budget Group Inc. (NASDAQ CAR) opened at $42.70 on Thursday. Avis Budget Group Inc. has a 1 year low of $20.71 and a 1 year high of $43.32. The company has a debt-to-equity ratio of 35.24, a current ratio of 1.28 and a quick ratio of 1.28. The company has a market capitalization of $3,351.31, a P/E ratio of 15.77 and a beta of 2.53.

Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Monday, November 6th. The business services provider reported $3.10 EPS for the quarter, beating the consensus estimate of $2.99 by $0.11. Avis Budget Group had a return on equity of 95.28% and a net margin of 1.26%. The firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same period last year, the firm earned $2.47 EPS. The firm’s revenue was up 3.6% compared to the same quarter last year. equities analysts anticipate that Avis Budget Group Inc. will post 2.65 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Shelton Capital Management acquired a new stake in Avis Budget Group in the 3rd quarter valued at approximately $269,000. GSA Capital Partners LLP acquired a new stake in Avis Budget Group in the 3rd quarter valued at approximately $424,000. California Public Employees Retirement System increased its position in Avis Budget Group by 1.9% in the 3rd quarter. California Public Employees Retirement System now owns 396,471 shares of the business services provider’s stock valued at $15,090,000 after acquiring an additional 7,338 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its position in Avis Budget Group by 1,413.3% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,540 shares of the business services provider’s stock valued at $172,000 after acquiring an additional 4,240 shares during the period. Finally, Marianas Fund Management LLC acquired a new stake in Avis Budget Group in the 3rd quarter valued at approximately $2,767,000.

CAR has been the topic of a number of research reports. BidaskClub upgraded Avis Budget Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday. ValuEngine upgraded Avis Budget Group from a “hold” rating to a “buy” rating in a research report on Monday. Northcoast Research reiterated a “buy” rating on shares of Avis Budget Group in a research report on Tuesday, November 7th. B. Riley initiated coverage on Avis Budget Group in a research report on Friday, September 22nd. They set a “buy” rating and a $36.00 price target on the stock. Finally, Zacks Investment Research upgraded Avis Budget Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned 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 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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