Avis Budget Group, Inc. (NASDAQ:CAR) SVP David T. Calabria sold 1,300 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $35.86, for a total value of $46,618.00. Following the completion of the transaction, the senior vice president now directly owns 5,662 shares of the company’s stock, valued at approximately $203,039.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Avis Budget Group, Inc. (CAR) traded up 2.78% during trading on Friday, reaching $37.74. The company had a trading volume of 4,215,114 shares. The firm has a 50-day moving average of $33.26 and a 200-day moving average of $29.28. Avis Budget Group, Inc. has a 1-year low of $20.71 and a 1-year high of $41.53. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of 44.45 and a beta of 2.44.

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

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A number of institutional investors and hedge funds have recently made changes to their positions in the business. Proxima Capital Management LLC boosted its holdings in Avis Budget Group by 93.0% in the 2nd 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 in the last quarter. Verition Fund Management LLC purchased a new stake in Avis Budget Group in the 2nd quarter valued at approximately $671,000. Ameritas Investment Partners Inc. boosted its holdings in Avis Budget Group by 25.9% in the 2nd 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 in the last quarter. Bank of Nova Scotia purchased a new stake in Avis Budget Group in the 2nd quarter valued at approximately $1,936,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in Avis Budget Group by 44.5% in the 2nd 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 in the last quarter.

Several equities analysts have recently issued reports on CAR shares. ValuEngine cut Avis Budget Group from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research cut Avis Budget Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. J P Morgan Chase & Co started coverage on Avis Budget Group in a report on Friday, August 4th. They issued an “overweight” rating and a $39.00 price objective for the company. BidaskClub cut Avis Budget Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 23rd. Finally, Goldman Sachs Group, Inc. (The) reissued a “hold” rating and issued a $37.00 price objective on shares of Avis Budget Group in a report on Thursday. Two analysts have rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Avis Budget Group currently has a consensus rating of “Hold” and a consensus price target 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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