Bank of New York Mellon Corp grew its stake in Avis Budget Group, Inc. (NASDAQ:CAR) by 1.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,534,212 shares of the business services provider’s stock after purchasing an additional 83,974 shares during the quarter. Bank of New York Mellon Corp owned approximately 5.49% of Avis Budget Group worth $172,573,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Commerzbank Aktiengesellschaft FI boosted its position in Avis Budget Group by 107.3% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 21,107 shares of the business services provider’s stock worth $576,000 after acquiring an additional 10,926 shares during the last quarter. GRT Capital Partners L.L.C. boosted its position in Avis Budget Group by 10.7% during the second quarter. GRT Capital Partners L.L.C. now owns 34,650 shares of the business services provider’s stock worth $945,000 after acquiring an additional 3,350 shares during the last quarter. Neuberger Berman Group LLC boosted its position in 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 worth $94,967,000 after acquiring an additional 547,233 shares during the last quarter. Commonwealth Bank of Australia boosted its position in Avis Budget Group by 196.1% during the second quarter. Commonwealth Bank of Australia now owns 121,700 shares of the business services provider’s stock worth $3,318,000 after acquiring an additional 80,600 shares during the last quarter. Finally, Eqis Capital Management Inc. acquired a new position in Avis Budget Group during the third quarter worth about $380,000.

In related news, CEO Shon Larry D. De sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $42.00, for a total transaction of $1,050,000.00. Following the sale, the chief executive officer now directly owns 222,365 shares of the company’s stock, valued at approximately $9,339,330. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark J. Servodidio sold 29,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $36.07, for a total transaction of $1,046,030.00. Following the sale, the insider now directly owns 72,431 shares in the company, valued at $2,612,586.17. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 460,631 shares of company stock worth $18,182,832. 2.80% of the stock is owned by insiders.

Several equities analysts have weighed in on CAR shares. TheStreet upgraded shares of Avis Budget Group from a “c” rating to a “b-” rating in a report on Friday, November 10th. B. Riley started coverage on shares of Avis Budget Group in a report on Friday, September 22nd. They issued a “buy” rating and a $36.00 target price on the stock. BidaskClub lowered shares of Avis Budget Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 23rd. ValuEngine upgraded shares of Avis Budget Group from a “hold” rating to a “buy” rating in a report on Thursday, October 5th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $49.00 target price (up from $44.00) on shares of Avis Budget Group in a report on Friday, October 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $37.70.

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Shares of Avis Budget Group, Inc. (NASDAQ:CAR) opened at $35.82 on Tuesday. The stock has a market cap of $2,920.00, a P/E ratio of 13.41 and a beta of 2.57. Avis Budget Group, Inc. has a 52 week low of $20.71 and a 52 week high of $42.40. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 35.24.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings results on Monday, November 6th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.99 by $0.11. Avis Budget Group had a net margin of 1.26% and a return on equity of 95.28%. The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the previous year, the firm earned $2.47 EPS. The business’s revenue was up 3.6% on a year-over-year basis. sell-side analysts anticipate that Avis Budget Group, Inc. will post 2.6 earnings per share for the current fiscal year.

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.

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

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