Insider Selling: Patric Siniscalchi Sells 20,731 Shares of Avis Budget Group Stock (CAR)
Avis Budget Group (NYSE:CAR) Insider Patric Siniscalchi sold 20,731 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $69.51, for a total value of $1,441,011.81. Following the completion of the transaction, the insider now directly owns 54,450 shares of the company’s stock, valued at approximately $3,784,820. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Avis Budget Group (NYSE:CAR) traded up 0.31% during mid-day trading on Wednesday, hitting $68.97. The stock had a trading volume of 3,866,330 shares. Avis Budget Group has a 52-week low of $26.57 and a 52-week high of $69.76. The stock’s 50-day moving average is $61.18 and its 200-day moving average is $53.52. The company has a market cap of $7.175 billion and a P/E ratio of 63.73.
Avis Budget Group (NYSE:CAR) last released its earnings data on Monday, August 4th. The company reported $0.68 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.06) by $0.74. The company had revenue of $2.20 million for the quarter, compared to the consensus estimate of $40.75 million. During the same quarter last year, the company posted $0.50 earnings per share. Avis Budget Group’s revenue was up 9.6% compared to the same quarter last year. On average, analysts predict that Avis Budget Group will post $2.97 earnings per share for the current fiscal year.
A number of research firms have recently commented on CAR. Analysts at Morgan Stanley raised their price target on shares of Avis Budget Group from $28.00 to $30.00 in a research note on Friday, August 8th. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Avis Budget Group in a research note on Wednesday, August 6th. They now have a $60.00 price target on the stock, up previously from $58.00. Finally, analysts at MKM Partners raised their price target on shares of Avis Budget Group from $75.00 to $80.00 in a research note on Wednesday, August 6th. They now have a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Avis Budget Group currently has a consensus rating of “Hold” and a consensus price target of $54.50.
Avis Budget Group, Inc (NYSE:CAR) operates two brands in the global vehicle rental industry through Avis and Budget.
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