Glenn Lurie Sells 1,474 Shares of Avis Budget Group, Inc. (NASDAQ:CAR) Stock

Avis Budget Group, Inc. (NASDAQ:CARGet Rating) Director Glenn Lurie sold 1,474 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $178.94, for a total value of $263,757.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Avis Budget Group Trading Up 3.7 %

Avis Budget Group stock traded up $6.59 during mid-day trading on Friday, hitting $184.11. The company’s stock had a trading volume of 702,728 shares, compared to its average volume of 1,018,316. The firm has a market capitalization of $8.89 billion, a PE ratio of 4.26 and a beta of 2.11. Avis Budget Group, Inc. has a 1 year low of $78.90 and a 1 year high of $545.11. The stock’s fifty day moving average is $166.02 and its two-hundred day moving average is $202.53.

Avis Budget Group (NASDAQ:CARGet Rating) last released its quarterly earnings results on Monday, August 1st. The business services provider reported $15.94 EPS for the quarter, topping analysts’ consensus estimates of $11.48 by $4.46. Avis Budget Group had a negative return on equity of 477.68% and a net margin of 21.02%. The company had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the prior year, the firm earned $5.90 earnings per share. The firm’s revenue was up 36.8% compared to the same quarter last year. On average, equities analysts expect that Avis Budget Group, Inc. will post 38.87 EPS for the current fiscal year.

Institutional Trading of Avis Budget Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Lindbrook Capital LLC grew its holdings in shares of Avis Budget Group by 737.5% during the first quarter. Lindbrook Capital LLC now owns 134 shares of the business services provider’s stock worth $35,000 after buying an additional 118 shares during the last quarter. TCI Wealth Advisors Inc. boosted its holdings in Avis Budget Group by 79.5% in the 1st quarter. TCI Wealth Advisors Inc. now owns 158 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 70 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Avis Budget Group in the 4th quarter valued at approximately $33,000. CWM LLC boosted its holdings in Avis Budget Group by 735.0% in the 2nd quarter. CWM LLC now owns 167 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 147 shares in the last quarter. Finally, Ellevest Inc. lifted its position in shares of Avis Budget Group by 130.3% during the 2nd quarter. Ellevest Inc. now owns 205 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 116 shares during the period.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. StockNews.com cut Avis Budget Group from a “buy” rating to a “hold” rating in a report on Thursday, July 14th. Morgan Stanley upped their price target on Avis Budget Group from $140.00 to $150.00 and gave the company an “underweight” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft upped their price target on Avis Budget Group from $184.00 to $229.00 in a research report on Wednesday. Finally, Barclays dropped their price target on Avis Budget Group from $223.00 to $158.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 5th. Two analysts have rated the stock with a sell rating and four 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 price target of $193.40.

Avis Budget Group Company Profile

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Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; the Budget Truck brand, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 20,000 vehicles, which are rented through a network of approximately 465 dealer-operated and 385 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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Insider Buying and Selling by Quarter for Avis Budget Group (NASDAQ:CAR)

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