Avis Budget Group Inc. (NASDAQ:CAR) Director Acquires $275,840.00 in Stock

Avis Budget Group Inc. (NASDAQ:CAR) Director F Robert Salerno bought 16,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 24th. The shares were bought at an average price of $17.24 per share, with a total value of $275,840.00. Following the transaction, the director now directly owns 35,717 shares in the company, valued at $615,761.08. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of CAR traded up $0.69 on Thursday, hitting $17.93. The company’s stock had a trading volume of 1,314,239 shares, compared to its average volume of 5,406,507. The company has a market capitalization of $1.28 billion, a PE ratio of 4.47 and a beta of 1.87. The company has a debt-to-equity ratio of 25.34, a current ratio of 0.96 and a quick ratio of 0.96. Avis Budget Group Inc. has a fifty-two week low of $6.35 and a fifty-two week high of $52.98. The company has a 50 day moving average price of $29.45 and a 200 day moving average price of $30.35.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings results on Wednesday, February 19th. The business services provider reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.23. Avis Budget Group had a return on equity of 60.29% and a net margin of 3.29%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same period last year, the firm posted $0.53 EPS. The business’s revenue was up 5.5% on a year-over-year basis. On average, equities analysts forecast that Avis Budget Group Inc. will post 3.04 EPS for the current year.

Several large investors have recently made changes to their positions in CAR. NEXT Financial Group Inc lifted its holdings in Avis Budget Group by 89.3% during the 4th quarter. NEXT Financial Group Inc now owns 1,295 shares of the business services provider’s stock worth $42,000 after buying an additional 611 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Avis Budget Group in the 4th quarter valued at $83,000. PNC Financial Services Group Inc. increased its stake in shares of Avis Budget Group by 11.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,393 shares of the business services provider’s stock valued at $172,000 after buying an additional 571 shares during the period. Profund Advisors LLC bought a new stake in shares of Avis Budget Group during the fourth quarter worth $211,000. Finally, SOL Capital Management CO bought a new stake in shares of Avis Budget Group during the fourth quarter worth $219,000. Institutional investors own 99.87% of the company’s stock.

A number of brokerages have weighed in on CAR. Northcoast Research cut Avis Budget Group from a “buy” rating to a “neutral” rating in a research report on Friday, February 21st. TheStreet cut Avis Budget Group from a “b-” rating to a “c” rating in a report on Friday, March 13th. ValuEngine upgraded shares of Avis Budget Group from a “strong sell” rating to a “sell” rating in a research note on Tuesday. BidaskClub upgraded shares of Avis Budget Group from a “strong sell” rating to a “sell” rating in a research note on Thursday. Finally, Morgan Stanley reaffirmed a “sell” rating on shares of Avis Budget Group in a report on Wednesday. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $32.25.

About Avis Budget Group

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary services to businesses and consumers worldwide. It operates the Avis brand, a vehicle rental system with approximately 5,500 locations that supply rental cars to the premium commercial and leisure segments of the travel industry; the Budget brand, a vehicle rental and other mobility solutions primarily focuses on the value-conscious segments of the industry; the Zipcar brand, a membership-based car sharing network; and the Budget Truck brand, a local and one-way truck rental businesses with a fleet of approximately 18,000 vehicles, which are rented through a network of approximately 640 dealer-operated and 430 company-operated locations that serve the consumer and light commercial sectors in the continental United States.

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