8,600 Shares in Avis Budget Group Inc. (CAR) Purchased by Alambic Investment Management L.P.

Alambic Investment Management L.P. bought a new position in shares of Avis Budget Group Inc. (NASDAQ:CAR) in the fourth quarter, Holdings Channel reports. The institutional investor bought 8,600 shares of the business services provider’s stock, valued at approximately $377,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Crow Point Partners LLC acquired a new position in Avis Budget Group in the third quarter valued at approximately $107,000. FNY Managed Accounts LLC acquired a new position in Avis Budget Group in the third quarter valued at approximately $160,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Avis Budget Group by 1,413.3% in the third 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. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Avis Budget Group by 43.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,117 shares of the business services provider’s stock valued at $181,000 after acquiring an additional 1,242 shares during the period. Finally, Deprince Race & Zollo Inc. acquired a new position in Avis Budget Group in the third quarter valued at approximately $202,000.

A number of research analysts have issued reports on the company. Zacks Investment Research raised Avis Budget Group from a “sell” rating to a “hold” rating in a report on Tuesday, January 23rd. BidaskClub raised Avis Budget Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 14th. ValuEngine raised Avis Budget Group from a “hold” rating to a “buy” rating in a report on Monday, December 11th. TheStreet raised Avis Budget Group from a “c” rating to a “b-” rating in a report on Friday, November 10th. Finally, Deutsche Bank decreased their price target on Avis Budget Group from $49.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $37.70.

In other news, insider Ronald L. Nelson sold 100,000 shares of the business’s 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 completion of the sale, the insider now directly owns 360,714 shares in the company, valued at $14,753,202.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Srs Investment Management, Llc acquired 3,500,000 shares of the business’s stock in a transaction dated Friday, December 8th. The stock was acquired at an average price of $40.56 per share, with a total value of $141,960,000.00. The disclosure for this purchase can be found here. Insiders sold 463,750 shares of company stock valued at $18,702,638 over the last 90 days. Company insiders own 2.80% of the company’s stock.

Shares of Avis Budget Group Inc. (CAR) opened at $40.38 on Friday. The company has a market capitalization of $3,290.00, a P/E ratio of 29.91 and a beta of 2.45. Avis Budget Group Inc. has a 12-month low of $20.71 and a 12-month high of $49.41. The company has a debt-to-equity ratio of 35.24, a current ratio of 1.28 and a quick ratio of 1.28.

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Avis Budget Group 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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Institutional Ownership by Quarter for Avis Budget Group (NASDAQ:CAR)

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