Avis Budget Group, Inc. (NASDAQ:CAR) CFO Brian J. Choi purchased 23,735 shares of the company’s stock in a transaction on Friday, February 19th. The stock was acquired at an average cost of $45.88 per share, for a total transaction of $1,088,961.80. Following the completion of the purchase, the chief financial officer now owns 22,000 shares of the company’s stock, valued at approximately $1,009,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Avis Budget Group stock traded up $3.11 during trading on Tuesday, hitting $53.61. 94,644 shares of the company were exchanged, compared to its average volume of 1,512,066. The business’s 50 day moving average is $41.48 and its 200 day moving average is $35.87. Avis Budget Group, Inc. has a 52 week low of $6.35 and a 52 week high of $52.55. The company has a market capitalization of $3.74 billion, a P/E ratio of -7.72 and a beta of 2.31.
Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings data on Monday, February 15th. The business services provider reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.04. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.38 billion. Avis Budget Group had a negative return on equity of 199.17% and a negative net margin of 7.28%. Equities analysts expect that Avis Budget Group, Inc. will post -6.29 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in the business. SRS Investment Management LLC lifted its position in shares of Avis Budget Group by 8.1% during the 3rd quarter. SRS Investment Management LLC now owns 18,048,628 shares of the business services provider’s stock valued at $475,040,000 after buying an additional 1,359,688 shares during the last quarter. BlackRock Inc. lifted its holdings in Avis Budget Group by 25.7% during the 3rd quarter. BlackRock Inc. now owns 6,373,593 shares of the business services provider’s stock worth $167,753,000 after purchasing an additional 1,304,257 shares in the last quarter. SummerHaven Investment Management LLC purchased a new stake in Avis Budget Group during the 4th quarter worth about $548,000. Arrowstreet Capital Limited Partnership lifted its holdings in Avis Budget Group by 35.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,632,595 shares of the business services provider’s stock worth $42,970,000 after purchasing an additional 423,078 shares in the last quarter. Finally, Samlyn Capital LLC purchased a new stake in Avis Budget Group during the 3rd quarter worth about $8,487,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.
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. It operates the Avis brand, a vehicle rental system that supply rental cars to the premium commercial and leisure segments of the travel industry; the Budget Truck brand, a local and one-way truck rental businesses with a fleet of approximately 20,000 vehicles, which are rented through a network of approximately 575 dealer-operated and 420 company-operated locations that serve the consumer and light commercial sectors in the continental United States; and the Zipcar brand, a car sharing network.
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