Avis Budget Group, Inc. (NASDAQ:CAR) Director Stender E. Sweeney sold 1,500 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $35.02, for a total transaction of $52,530.00. Following the completion of the sale, the director now directly owns 1,359 shares in the company, valued at $47,592.18. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Shares of Avis Budget Group, Inc. (NASDAQ CAR) traded up 2.78% on Friday, hitting $37.74. 4,215,114 shares of the stock traded hands. The firm’s 50-day moving average is $33.26 and its 200 day moving average is $29.28. Avis Budget Group, Inc. has a 12-month low of $20.71 and a 12-month high of $41.53. The firm has a market cap of $3.12 billion, a P/E ratio of 44.45 and a beta of 2.44.

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

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A number of hedge funds have recently added to or reduced their stakes in the business. Proxima Capital Management LLC increased its stake in Avis Budget Group by 93.0% during the second quarter. Proxima Capital Management LLC now owns 580,000 shares of the business services provider’s stock valued at $15,817,000 after purchasing an additional 279,500 shares during the last quarter. Verition Fund Management LLC bought a new stake in Avis Budget Group during the second quarter valued at $671,000. Ameritas Investment Partners Inc. increased its stake in Avis Budget Group by 25.9% during the second quarter. Ameritas Investment Partners Inc. now owns 31,925 shares of the business services provider’s stock valued at $871,000 after purchasing an additional 6,576 shares during the last quarter. Bank of Nova Scotia bought a new stake in Avis Budget Group during the second quarter valued at $1,936,000. Finally, The Manufacturers Life Insurance Company increased its stake in Avis Budget Group by 44.5% during the second quarter. The Manufacturers Life Insurance Company now owns 179,596 shares of the business services provider’s stock valued at $4,898,000 after purchasing an additional 55,299 shares during the last quarter.

A number of brokerages have commented on CAR. ValuEngine raised shares of Avis Budget Group from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Morgan Stanley dropped their price objective on shares of Avis Budget Group from $19.00 to $18.00 and set an “underweight” rating on the stock in a research report on Friday, August 25th. BidaskClub raised shares of Avis Budget Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Deutsche Bank AG reissued a “buy” rating on shares of Avis Budget Group in a research report on Monday, June 26th. Finally, MKM Partners reissued a “buy” rating and issued a $40.00 price objective on shares of Avis Budget Group in a research report on Wednesday, June 28th. Two analysts have rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Avis Budget Group presently has an average rating of “Hold” and a consensus target price of $36.22.

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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