Insider Selling: Avis Budget Group Inc. (CAR) Chairman Sells 275,000 Shares of Stock
Avis Budget Group Inc. (NASDAQ:CAR) Chairman Ronald L. Nelson sold 275,000 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $40.22, for a total transaction of $11,060,500.00. Following the transaction, the chairman now owns 473,214 shares in the company, valued at $19,032,667.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Avis Budget Group Inc. (CAR) traded down $0.30 on Tuesday, reaching $39.73. 5,357,400 shares of the company’s stock were exchanged, compared to its average volume of 2,821,391. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 35.24. The stock has a market capitalization of $3,259.30, a PE ratio of 15.34 and a beta of 2.53. Avis Budget Group Inc. has a 52-week low of $20.71 and a 52-week high of $42.40.
Avis Budget Group (NASDAQ:CAR) last released its earnings results on Monday, November 6th. The business services provider reported $3.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.99 by $0.11. The firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Avis Budget Group had a net margin of 1.26% and a return on equity of 95.28%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.47 earnings per share. sell-side analysts expect that Avis Budget Group Inc. will post 2.65 EPS for the current year.
Several hedge funds have recently made changes to their positions in CAR. FMR LLC lifted its stake in shares of Avis Budget Group by 815.5% during the 2nd quarter. FMR LLC now owns 1,779,701 shares of the business services provider’s stock valued at $48,532,000 after buying an additional 1,585,301 shares in the last quarter. BlackRock Inc. boosted its position in Avis Budget Group by 18.0% during the 2nd quarter. BlackRock Inc. now owns 8,895,289 shares of the business services provider’s stock valued at $242,574,000 after buying an additional 1,355,238 shares during the period. Pzena Investment Management LLC purchased a new stake in Avis Budget Group during the 3rd quarter valued at $37,704,000. 1060 Capital LLC purchased a new stake in Avis Budget Group during the 3rd quarter valued at $25,874,000. Finally, Capital World Investors purchased a new stake in Avis Budget Group during the 2nd quarter valued at $17,780,000.
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.
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.