Avis Budget Group Inc. (CAR) CMO W Scott Deaver Sells 40,000 Shares
Avis Budget Group Inc. (NASDAQ:CAR) CMO W Scott Deaver sold 40,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $39.05, for a total transaction of $1,562,000.00. Following the completion of the transaction, the chief marketing officer now directly owns 125,674 shares in the company, valued at approximately $4,907,569.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Avis Budget Group Inc. (NASDAQ:CAR) traded down $0.30 during trading hours on Tuesday, reaching $39.73. The company’s stock had a trading volume of 5,357,400 shares, compared to its average volume of 2,821,391. The stock has a market capitalization of $3,259.30, a PE ratio of 15.34 and a beta of 2.53. The company has a debt-to-equity ratio of 35.24, a current ratio of 1.28 and a quick ratio of 1.28. Avis Budget Group Inc. has a 1 year low of $20.71 and a 1 year high of $42.40.
Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings results on Monday, November 6th. The business services provider reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.99 by $0.11. Avis Budget Group had a return on equity of 95.28% and a net margin of 1.26%. The business had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter last year, the business posted $2.47 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. sell-side analysts anticipate that Avis Budget Group Inc. will post 2.65 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in the company. Shelton Capital Management purchased a new position in shares of Avis Budget Group in the third quarter valued at $269,000. GSA Capital Partners LLP purchased a new position in shares of Avis Budget Group in the third quarter valued at $424,000. California Public Employees Retirement System increased its position in shares of Avis Budget Group by 1.9% in the third quarter. California Public Employees Retirement System now owns 396,471 shares of the business services provider’s stock valued at $15,090,000 after buying an additional 7,338 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in Avis Budget Group by 1,413.3% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,540 shares of the business services provider’s stock worth $172,000 after purchasing an additional 4,240 shares in the last quarter. Finally, Marianas Fund Management LLC purchased a new stake in Avis Budget Group during the 3rd quarter worth about $2,767,000.
Avis Budget Group Company Profile
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.
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.