Dynamic Capital Management Ltd purchased a new stake in shares of Avis Budget Group, Inc. (NASDAQ:CAR) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 28,060 shares of the company’s stock, valued at approximately $960,000.

A number of other large investors have also modified their holdings of the stock. Morgan Stanley increased its position in shares of Avis Budget Group by 2.7% in the third quarter. Morgan Stanley now owns 7,543,319 shares of the company’s stock worth $258,056,000 after buying an additional 196,981 shares during the period. BlackRock Fund Advisors increased its position in shares of Avis Budget Group by 196.8% in the third quarter. BlackRock Fund Advisors now owns 3,835,573 shares of the company’s stock worth $131,215,000 after buying an additional 2,543,356 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Avis Budget Group by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,914,496 shares of the company’s stock worth $93,918,000 after buying an additional 75,502 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in shares of Avis Budget Group by 17.5% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,692,352 shares of the company’s stock worth $92,105,000 after buying an additional 401,363 shares during the period. Finally, Neuberger Berman Group LLC increased its position in shares of Avis Budget Group by 7.2% in the second quarter. Neuberger Berman Group LLC now owns 2,073,282 shares of the company’s stock worth $66,822,000 after buying an additional 140,090 shares during the period.

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

Shares of Avis Budget Group, Inc. (NASDAQ:CAR) traded up 0.97% during mid-day trading on Friday, hitting $36.48. 658,858 shares of the company traded hands. The firm has a 50-day moving average of $38.36 and a 200-day moving average of $35.98. Avis Budget Group, Inc. has a one year low of $21.73 and a one year high of $41.53. The stock 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 issued its earnings results on Wednesday, November 2nd. The company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.33 by $0.14. Avis Budget Group had a net margin of 2.18% and a return on equity of 68.51%. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the previous year, the firm earned $1.98 earnings per share. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, equities analysts predict that Avis Budget Group, Inc. will post $2.95 earnings per share for the current year.

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A number of research analysts have recently commented on the stock. Credit Suisse Group reissued a “buy” rating and issued a $44.00 price objective on shares of Avis Budget Group in a research report on Wednesday, November 16th. Barclays PLC lifted their price objective on shares of Avis Budget Group from $33.00 to $37.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 27th. Morgan Stanley lifted their price objective on shares of Avis Budget Group from $20.00 to $27.00 and gave the company an “underweight” rating in a research report on Friday, November 18th. TheStreet raised shares of Avis Budget Group from a “hold” rating to a “buy” rating in a research report 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 report on Wednesday, January 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Avis Budget Group presently has an average rating of “Buy” and a consensus price target of $36.71.

In related news, Director John D. Jr. Hardy sold 779 shares of Avis Budget Group stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $34.84, for a total value of $27,140.36. Following the transaction, the director now directly owns 779 shares of the company’s stock, valued at $27,140.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ronald L. Nelson sold 62,615 shares of Avis Budget Group stock in a transaction on Monday, November 7th. The stock was sold at an average price of $40.00, for a total transaction of $2,504,600.00. Following the completion of the transaction, the insider now directly owns 781,959 shares in the company, valued at $31,278,360. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate 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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