BlackRock Inc. boosted its position in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 218.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,594 shares of the company’s stock after buying an additional 33,313 shares during the period. BlackRock Inc. owned 0.05% of Avis Budget Group worth $1,662,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CAR. Prudential Financial Inc. increased its position in shares of Avis Budget Group by 3,547.9% in the third quarter. Prudential Financial Inc. now owns 330,021 shares of the company’s stock worth $11,290,000 after buying an additional 320,974 shares during the last quarter. BlackRock Investment Management LLC increased its position in shares of Avis Budget Group by 707.6% in the third quarter. BlackRock Investment Management LLC now owns 264,142 shares of the company’s stock worth $9,036,000 after buying an additional 231,433 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Avis Budget Group during the third quarter worth approximately $6,786,000. LSV Asset Management increased its position in shares of Avis Budget Group by 14.5% in the third quarter. LSV Asset Management now owns 401,638 shares of the company’s stock worth $13,740,000 after buying an additional 50,900 shares during the last quarter. Finally, Mutual of America Capital Management LLC acquired a new position in shares of Avis Budget Group during the third quarter worth approximately $2,254,000.

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

Shares of Avis Budget Group, Inc. (NASDAQ:CAR) traded up 0.97% during trading on Friday, reaching $36.48. 651,426 shares of the company traded hands. The firm’s 50 day moving average price is $38.36 and its 200-day moving average price is $35.98. Avis Budget Group, Inc. has a 52 week low of $21.73 and a 52 week high of $41.53. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 18.64 and a beta of 2.19.

Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Wednesday, November 2nd. The company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.14. The company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.65 billion. Avis Budget Group had a net margin of 2.18% and a return on equity of 68.51%. Avis Budget Group’s revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.98 EPS. Equities analysts anticipate that Avis Budget Group, Inc. will post $2.95 EPS for the current fiscal year.

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Several analysts have issued reports on CAR shares. Credit Suisse Group reissued a “buy” rating and issued a $44.00 price objective on shares of Avis Budget Group in a research note on Wednesday, November 16th. Barclays PLC raised their price objective on shares of Avis Budget Group from $33.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 27th. Morgan Stanley raised their price objective on shares of Avis Budget Group from $20.00 to $27.00 and gave the stock an “underweight” rating in a research note on Friday, November 18th. TheStreet raised shares of Avis Budget Group from a “hold” rating to a “buy” rating in a research note on Monday, November 28th. Finally, Zacks Investment Research raised shares of Avis Budget Group from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research note on Wednesday, January 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $36.71.

In other Avis Budget Group news, insider Ronald L. Nelson sold 62,615 shares of the business’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $40.00, for a total value of $2,504,600.00. Following the transaction, the insider now directly owns 781,959 shares in the company, valued at approximately $31,278,360. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stender E. Sweeney sold 803 shares of the business’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $38.34, for a total transaction of $30,787.02. Following the completion of the transaction, the director now owns 603 shares in the company, valued at $23,119.02. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by company insiders.

About Avis Budget Group

Avis Budget Group Inc is a provider of vehicle rental and car sharing services. The Company operates three brands, which include Avis, Budget and Zipcar. Avis is a rental car supplier and Budget is a rental vehicle supplier. It also owns Payless, which a car rental brand, and Apex, which is a car rental brand in New Zealand and Australia.

5 Day Chart for NASDAQ:CAR

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