Avis Budget Group, Inc. (NASDAQ:CAR) insider Ronald L. Nelson sold 150,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $37.30, for a total value of $5,595,000.00. Following the completion of the sale, the insider now owns 510,714 shares in the company, valued at $19,049,632.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Shares of Avis Budget Group, Inc. (CAR) traded down 6.72% during trading on Thursday, reaching $35.28. The company’s stock had a trading volume of 4,044,415 shares. 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 $2.92 billion, a PE ratio of 41.55 and a beta of 2.44. The stock’s 50 day moving average price is $33.90 and its 200-day moving average price is $29.44.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings results on Monday, August 7th. The business services provider reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ 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 the consensus estimate of $2.27 billion. During the same period in the previous year, the business posted $0.63 EPS. Avis Budget Group’s revenue was down .2% compared to the same quarter last year. Equities analysts predict that Avis Budget Group, Inc. will post $2.54 EPS for the current year.

WARNING: This report was posted by American Banking News and is the property of of American Banking News. If you are viewing this report on another website, it was stolen and republished in violation of international copyright and trademark legislation. The correct version of this report can be accessed at https://www.americanbankingnews.com/2017/09/14/insider-selling-avis-budget-group-inc-car-insider-sells-150000-shares-of-stock.html.

A number of research firms recently issued reports on CAR. ValuEngine downgraded Avis Budget Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 23rd. Deutsche Bank AG reaffirmed a “buy” rating and issued a $45.00 target price on shares of Avis Budget Group in a research report on Wednesday, June 14th. BidaskClub raised Avis Budget Group from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 15th. MKM Partners reaffirmed a “buy” rating and issued a $40.00 target price on shares of Avis Budget Group in a research report on Wednesday, June 28th. Finally, Zacks Investment Research raised Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Avis Budget Group has a consensus rating of “Hold” and an average target price of $36.22.

Large investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC increased its stake in Avis Budget Group by 24.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 11,866 shares of the business services provider’s stock valued at $351,000 after buying an additional 2,366 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Avis Budget Group in the 1st quarter valued at about $592,000. Parametric Portfolio Associates LLC increased its stake in Avis Budget Group by 24.7% in the 1st quarter. Parametric Portfolio Associates LLC now owns 483,406 shares of the business services provider’s stock valued at $14,299,000 after buying an additional 95,628 shares during the last quarter. Credit Suisse AG increased its stake in Avis Budget Group by 105.4% in the 1st quarter. Credit Suisse AG now owns 471,124 shares of the business services provider’s stock valued at $13,936,000 after buying an additional 241,739 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in Avis Budget Group by 1.2% in the 1st quarter. California Public Employees Retirement System now owns 393,733 shares of the business services provider’s stock valued at $11,647,000 after buying an additional 4,500 shares during the last quarter.

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)

Receive News & Ratings for Avis Budget Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avis Budget Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.