BNP Paribas Financial Markets Sells 29,393 Shares of Avis Budget Group, Inc. $CAR

BNP Paribas Financial Markets lessened its holdings in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 10.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 253,577 shares of the business services provider’s stock after selling 29,393 shares during the period. BNP Paribas Financial Markets’ holdings in Avis Budget Group were worth $32,539,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Basepoint Wealth LLC purchased a new stake in shares of Avis Budget Group in the 4th quarter worth approximately $32,000. Hantz Financial Services Inc. grew its stake in shares of Avis Budget Group by 136.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 253 shares of the business services provider’s stock worth $41,000 after buying an additional 146 shares during the last quarter. American Wealth Advisors LLC purchased a new stake in shares of Avis Budget Group in the 3rd quarter worth approximately $41,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Avis Budget Group by 26.5% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 363 shares of the business services provider’s stock worth $58,000 after buying an additional 76 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Avis Budget Group by 19.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 427 shares of the business services provider’s stock worth $72,000 after buying an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Insider Buying and Selling at Avis Budget Group

In other Avis Budget Group news, EVP Ravi Simhambhatla sold 3,469 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $184.09, for a total transaction of $638,608.21. Following the completion of the sale, the executive vice president directly owned 13,876 shares in the company, valued at approximately $2,554,432.84. The trade was a 20.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Pentwater Capital Management L sold 3,347 shares of the business’s stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $438.74, for a total transaction of $1,468,462.78. Following the sale, the insider owned 6,177,100 shares of the company’s stock, valued at approximately $2,710,140,854. This represents a 0.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 16,299 shares of company stock worth $3,836,012. Insiders own 50.48% of the company’s stock.

Avis Budget Group Trading Up 1.7%

Shares of CAR opened at $176.80 on Friday. The firm has a market cap of $6.25 billion, a PE ratio of -9.28 and a beta of 1.87. The firm has a fifty day simple moving average of $226.24 and a two-hundred day simple moving average of $156.97. Avis Budget Group, Inc. has a 1-year low of $85.96 and a 1-year high of $847.70.

Avis Budget Group (NASDAQ:CAR) last announced its earnings results on Wednesday, April 29th. The business services provider reported ($8.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($6.82) by ($1.19). The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.43 billion. The company’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted ($14.35) EPS. As a group, research analysts forecast that Avis Budget Group, Inc. will post 2.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CAR. The Goldman Sachs Group set a $85.00 price target on Avis Budget Group in a research note on Monday, February 23rd. Susquehanna upped their price objective on Avis Budget Group from $105.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Barclays lowered their price objective on Avis Budget Group from $150.00 to $140.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $125.00 price objective on shares of Avis Budget Group in a research report on Friday, May 1st. Finally, Wall Street Zen raised Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Five analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $125.25.

Avis Budget Group Company Profile

Avis Budget Group, Inc operates as a leading global provider of vehicle rental and mobility solutions. Through its two core brands, Avis® and Budget®, the company offers a broad range of rental options including daily, weekly and monthly car rentals for leisure and business travelers. In addition to traditional airport and off-airport car rental services, Avis Budget Group delivers innovative mobility platforms such as car-sharing programs and connected fleet solutions designed to meet the evolving needs of corporate, government and individual customers.

The company’s roots trace back to Avis Rent a Car, founded in 1946, and Budget Rent a Car, established in 1958.