Avis Budget Group, Inc. $CAR Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its stake in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 2.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,542,095 shares of the business services provider’s stock after selling 37,180 shares during the period. Vanguard Group Inc. owned 4.38% of Avis Budget Group worth $247,622,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Deseret Mutual Benefit Administrators boosted its holdings in shares of Avis Budget Group by 102.3% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 174 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 88 shares during the last quarter. Hantz Financial Services Inc. boosted its position in Avis Budget Group by 136.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 253 shares of the business services provider’s stock valued at $41,000 after buying an additional 146 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Avis Budget Group by 19.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 427 shares of the business services provider’s stock valued at $72,000 after purchasing an additional 70 shares in the last quarter. Allworth Financial LP increased its stake in shares of Avis Budget Group by 125.7% in the second quarter. Allworth Financial LP now owns 474 shares of the business services provider’s stock worth $80,000 after buying an additional 264 shares during the last quarter. Finally, Activest Wealth Management grew its position in shares of Avis Budget Group by 100,000.0% in the 3rd quarter. Activest Wealth Management now owns 1,001 shares of the business services provider’s stock worth $161,000 after acquiring an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Avis Budget Group Price Performance

Avis Budget Group stock opened at $97.41 on Friday. The company’s fifty day moving average price is $119.47 and its two-hundred day moving average price is $137.18. Avis Budget Group, Inc. has a one year low of $54.03 and a one year high of $212.81. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of -3.84 and a beta of 2.33.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group set a $85.00 price objective on shares of Avis Budget Group in a research report on Monday, February 23rd. Wall Street Zen downgraded shares of Avis Budget Group from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Barclays dropped their price objective on Avis Budget Group from $120.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Thursday. Morgan Stanley reissued an “equal weight” rating and set a $142.00 target price (up from $115.00) on shares of Avis Budget Group in a research note on Monday, December 8th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Avis Budget Group in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $131.14.

Insiders Place Their Bets

In related news, Director Lynn Krominga sold 1,950 shares of the business’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $91.54, for a total transaction of $178,503.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Pentwater Capital Management L bought 425,000 shares of the stock in a transaction on Friday, February 20th. The stock was acquired at an average cost of $94.26 per share, for a total transaction of $40,060,500.00. Following the acquisition, the insider directly owned 3,987,100 shares in the company, valued at approximately $375,824,046. The trade was a 11.93% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 52.80% of the company’s stock.

Avis Budget Group Company Profile

Avis Budget Group, Inc operates as a leading global provider of vehicle rental and mobility solutions. Through its two core brands, Avis® and Budget®, the company offers a broad range of rental options including daily, weekly and monthly car rentals for leisure and business travelers. In addition to traditional airport and off-airport car rental services, Avis Budget Group delivers innovative mobility platforms such as car-sharing programs and connected fleet solutions designed to meet the evolving needs of corporate, government and individual customers.

The company’s roots trace back to Avis Rent a Car, founded in 1946, and Budget Rent a Car, established in 1958.