Avis Budget Group, Inc. (NASDAQ:CAR) Shares Purchased by Advisor Group Holdings Inc.

Advisor Group Holdings Inc. raised its position in Avis Budget Group, Inc. (NASDAQ:CAR) by 35.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,315 shares of the business services provider’s stock after acquiring an additional 7,156 shares during the quarter. Advisor Group Holdings Inc.’s holdings in Avis Budget Group were worth $3,182,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Selective Wealth Management Inc. acquired a new stake in Avis Budget Group in the third quarter valued at approximately $35,000. Samalin Investment Counsel LLC acquired a new stake in Avis Budget Group in the second quarter valued at approximately $51,000. Arkadios Wealth Advisors grew its position in Avis Budget Group by 66.7% in the third quarter. Arkadios Wealth Advisors now owns 1,000 shares of the business services provider’s stock valued at $116,000 after acquiring an additional 400 shares in the last quarter. Harvest Fund Management Co. Ltd grew its position in Avis Budget Group by 750.2% in the second quarter. Harvest Fund Management Co. Ltd now owns 1,913 shares of the business services provider’s stock valued at $156,000 after acquiring an additional 1,688 shares in the last quarter. Finally, Envestnet Asset Management Inc. acquired a new stake in Avis Budget Group in the second quarter valued at approximately $204,000. 95.78% of the stock is owned by institutional investors.

Shares of CAR opened at $195.31 on Friday. The business’s fifty day moving average price is $242.42 and its 200 day moving average price is $157.40. Avis Budget Group, Inc. has a 12-month low of $37.11 and a 12-month high of $545.11. The stock has a market capitalization of $11.02 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 0.47 and a beta of 2.05. The company has a debt-to-equity ratio of 159.62, a current ratio of 0.91 and a quick ratio of 0.91.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings data on Monday, November 1st. The business services provider reported $10.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $6.90 by $3.84. Avis Budget Group had a negative return on equity of 729.29% and a net margin of 10.04%. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same period last year, the business posted $1.13 earnings per share. The firm’s revenue for the quarter was up 95.6% on a year-over-year basis. As a group, research analysts anticipate that Avis Budget Group, Inc. will post 22.35 earnings per share for the current fiscal year.

Several brokerages have issued reports on CAR. Zacks Investment Research downgraded shares of Avis Budget Group from a “buy” rating to a “hold” rating and set a $127.00 price objective for the company. in a research report on Tuesday, October 5th. Bank of America cut Avis Budget Group from a “buy” rating to a “neutral” rating and increased their target price for the company from $125.00 to $200.00 in a research note on Thursday, October 28th. Morgan Stanley increased their target price on Avis Budget Group from $140.00 to $170.00 and gave the company an “underweight” rating in a research note on Monday, November 15th. Barclays cut Avis Budget Group from an “equal weight” rating to an “underweight” rating and increased their target price for the company from $125.00 to $217.00 in a research note on Tuesday, November 16th. Finally, Deutsche Bank Aktiengesellschaft upgraded Avis Budget Group from a “sell” rating to a “hold” rating and set a $210.00 target price for the company in a research note on Thursday, January 6th. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat, Avis Budget Group has an average rating of “Hold” and a consensus target price of $191.50.

In other Avis Budget Group news, CAO Cathleen Degenova sold 250 shares of the firm’s stock in a transaction on Friday, November 5th. The stock was sold at an average price of $272.14, for a total value of $68,035.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Edward P. Linnen sold 8,300 shares of the firm’s stock in a transaction on Friday, November 5th. The shares were sold at an average price of $272.14, for a total value of $2,258,762.00. The disclosure for this sale can be found here. Insiders have sold 59,600 shares of company stock worth $16,388,012 over the last 90 days. 27.40% of the stock is currently owned by company insiders.

About Avis Budget Group

Avis Budget Group, Inc engages in the provision of vehicle sharing and rental services. It operates through the Americas and International segments. The Americas segment licenses the company’s brands to third parties for vehicle rentals and ancillary products and services in North America, South America, Central America, and the Caribbean.

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Institutional Ownership by Quarter for Avis Budget Group (NASDAQ:CAR)

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