Avis Budget Group Inc. (NASDAQ:CAR) insider Ronald L. Nelson sold 50,000 shares of the firm’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $38.00, for a total value of $1,900,000.00. Following the transaction, the insider now owns 893,949 shares in the company, valued at approximately $33,970,062. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Shares of Avis Budget Group Inc. (NASDAQ:CAR) opened at 37.54 on Tuesday. The firm has a market cap of $3.41 billion, a P/E ratio of 22.68 and a beta of 2.63. Avis Budget Group Inc. has a one year low of $21.73 and a one year high of $53.04. The firm has a 50-day moving average price of $36.60 and a 200 day moving average price of $31.00.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.63 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by $0.06. Avis Budget Group had a net margin of 1.91% and a return on equity of 58.78%. The business earned $2.24 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same period last year, the company earned $0.84 EPS. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, analysts forecast that Avis Budget Group Inc. will post $3.04 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in CAR. Bank of New York Mellon Corp raised its position in shares of Avis Budget Group by 768.4% in the second quarter. Bank of New York Mellon Corp now owns 4,079,271 shares of the company’s stock valued at $131,475,000 after buying an additional 3,609,536 shares during the period. Dimensional Fund Advisors LP raised 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 valued at $93,918,000 after buying an additional 75,502 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Avis Budget Group by 6.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,712,205 shares of the company’s stock valued at $74,206,000 after buying an additional 168,969 shares during the period. Neuberger Berman Group LLC raised 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 valued at $66,822,000 after buying an additional 140,090 shares during the period. Finally, State Street Corp raised its position in shares of Avis Budget Group by 5.9% in the first quarter. State Street Corp now owns 1,537,922 shares of the company’s stock valued at $42,075,000 after buying an additional 85,962 shares during the period.

Several equities analysts have recently commented on the company. Deutsche Bank AG raised their price target on Avis Budget Group from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Barclays PLC raised their price objective on Avis Budget Group from $31.00 to $33.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 10th. Vetr downgraded Avis Budget Group from a “strong-buy” rating to a “buy” rating and set a $28.77 price objective on the stock. in a research report on Monday, May 23rd. Macquarie began coverage on Avis Budget Group in a research report on Thursday, August 25th. They set an “outperform” rating and a $44.00 price objective on the stock. Finally, Zacks Investment Research downgraded Avis Budget Group from a “buy” rating to a “hold” rating in a research report on Monday, August 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $34.28.

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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