American International Group Inc. decreased its holdings in Avis Budget Group Inc. (NASDAQ:CAR) by 8.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 199,028 shares of the business services provider’s stock after selling 17,866 shares during the quarter. American International Group Inc. owned 0.24% of Avis Budget Group worth $7,575,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CAR. BlackRock Inc. raised its position in shares of Avis Budget Group by 18.0% during the second quarter. BlackRock Inc. now owns 8,895,289 shares of the business services provider’s stock valued at $242,574,000 after buying an additional 1,355,238 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Avis Budget Group by 1.9% during the third quarter. Bank of New York Mellon Corp now owns 4,534,212 shares of the business services provider’s stock valued at $172,573,000 after buying an additional 83,974 shares during the last quarter. Neuberger Berman Group LLC raised its position in shares of Avis Budget Group by 18.6% during the second quarter. Neuberger Berman Group LLC now owns 3,482,454 shares of the business services provider’s stock valued at $94,967,000 after buying an additional 547,233 shares during the last quarter. State Street Corp raised its position in shares of Avis Budget Group by 21.6% during the second quarter. State Street Corp now owns 2,951,521 shares of the business services provider’s stock valued at $80,487,000 after buying an additional 524,807 shares during the last quarter. Finally, FMR LLC raised its position in shares of Avis Budget Group by 815.5% during the second quarter. FMR LLC now owns 1,779,701 shares of the business services provider’s stock valued at $48,532,000 after buying an additional 1,585,301 shares during the last quarter.

In related news, SVP David T. Calabria sold 1,300 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $35.86, for a total value of $46,618.00. Following the completion of the sale, the senior vice president now directly owns 5,662 shares of the company’s stock, valued at $203,039.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Stender E. Sweeney sold 1,500 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $35.02, for a total transaction of $52,530.00. Following the completion of the sale, the director now directly owns 1,359 shares of the company’s stock, valued at $47,592.18. The disclosure for this sale can be found here. Insiders have sold 428,631 shares of company stock valued at $17,028,532 over the last three months. Insiders own 2.80% of the company’s stock.

Several equities research analysts have recently issued reports on CAR shares. J P Morgan Chase & Co started coverage on shares of Avis Budget Group in a research report on Friday, August 4th. They set an “overweight” rating and a $39.00 price objective on the stock. ValuEngine cut shares of Avis Budget Group from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. BidaskClub cut shares of Avis Budget Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 23rd. Goldman Sachs Group restated a “hold” rating and issued a $37.00 price target on shares of Avis Budget Group in a research report on Thursday, September 7th. Finally, Barclays boosted their price target on shares of Avis Budget Group from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $37.70.

Shares of Avis Budget Group Inc. (NASDAQ CAR) opened at $40.03 on Friday. The stock has a market cap of $3,102.16, a price-to-earnings ratio of 14.60 and a beta of 2.54. Avis Budget Group Inc. has a one year low of $20.71 and a one year high of $42.40. The company has a debt-to-equity ratio of 35.24, a quick ratio of 1.28 and a current ratio of 1.28.

Avis Budget Group (NASDAQ:CAR) last issued its earnings results on Monday, November 6th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.99 by $0.11. The firm had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.78 billion. Avis Budget Group had a net margin of 1.26% and a return on equity of 95.28%. The business’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.47 earnings per share. sell-side analysts predict that Avis Budget Group Inc. will post 2.65 EPS for the current fiscal year.

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Avis Budget Group Profile

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 and Budget are a rental car supplier. It also owns Payless, which a car rental brand; Apex, which is a car rental brand in New Zealand and Australia; Maggiore, a vehicle rental brand in Italy, and France Cars, which operates light commercial vehicle fleets in France.

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

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