Stender E. Sweeney Sells 1,500 Shares of Avis Budget Group, Inc. (CAR) Stock

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

Avis Budget Group, Inc. (CAR) opened at 37.74 on Friday. The stock’s 50 day moving average price is $33.40 and its 200 day moving average price is $29.35. The firm has a market capitalization of $3.12 billion, a PE ratio of 44.45 and a beta of 2.44. Avis Budget Group, Inc. has a 52-week low of $20.71 and a 52-week high of $41.53.

Avis Budget Group (NASDAQ:CAR) last issued its earnings results on Monday, August 7th. The business services provider reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by $0.32. The firm had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.27 billion. Avis Budget Group had a net margin of 0.86% and a return on equity of 74.80%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.63 earnings per share. On average, analysts predict that Avis Budget Group, Inc. will post $2.51 EPS for the current fiscal year.

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CAR has been the subject of a number of analyst reports. ValuEngine cut Avis Budget Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 23rd. Deutsche Bank AG reaffirmed a “buy” rating and set a $45.00 price objective on shares of Avis Budget Group in a research note on Wednesday, June 14th. MKM Partners reaffirmed a “buy” rating and set a $40.00 price objective on shares of Avis Budget Group in a research note on Wednesday, June 28th. BidaskClub raised Avis Budget Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Finally, Zacks Investment Research raised Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $36.22.

Institutional investors and hedge funds have recently modified their holdings of the company. FNY Managed Accounts LLC acquired a new position in Avis Budget Group during the 1st quarter valued at about $102,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Avis Budget Group during the 2nd quarter valued at about $191,000. World Asset Management Inc boosted its stake in Avis Budget Group by 8.9% during the 1st quarter. World Asset Management Inc now owns 7,474 shares of the business services provider’s stock valued at $221,000 after purchasing an additional 610 shares during the last quarter. LS Investment Advisors LLC boosted its stake in Avis Budget Group by 27.6% during the 1st quarter. LS Investment Advisors LLC now owns 7,857 shares of the business services provider’s stock valued at $232,000 after purchasing an additional 1,699 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in Avis Budget Group during the 2nd quarter valued at about $225,000.

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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