FNY Managed Accounts LLC Acquires Shares of 4,216 Avis Budget Group, Inc. (CAR)
FNY Managed Accounts LLC acquired a new stake in Avis Budget Group, Inc. (NASDAQ:CAR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,216 shares of the business services provider’s stock, valued at approximately $160,000.
Other institutional investors have also recently made changes to their positions in the company. Crow Point Partners LLC purchased a new position in shares of Avis Budget Group during the third quarter valued at approximately $107,000. Deprince Race & Zollo Inc. purchased a new position in shares of Avis Budget Group during the third quarter valued at approximately $202,000. Telemus Capital LLC purchased a new position in shares of Avis Budget Group during the third quarter valued at approximately $211,000. Strs Ohio purchased a new position in shares of Avis Budget Group during the third quarter valued at approximately $232,000. Finally, World Asset Management Inc purchased a new position in shares of Avis Budget Group during the third quarter valued at approximately $235,000.
Several research analysts recently issued reports on CAR shares. Morgan Stanley cut their target price on Avis Budget Group from $19.00 to $18.00 and set an “underweight” rating on the stock in a research report on Friday, August 25th. BidaskClub raised Avis Budget Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Credit Suisse Group reaffirmed a “hold” rating on shares of Avis Budget Group in a research report on Thursday, September 14th. MKM Partners boosted their price objective on Avis Budget Group from $36.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday, October 12th. Finally, Zacks Investment Research raised Avis Budget Group from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $37.70.
Avis Budget Group, Inc. (NASDAQ CAR) opened at $34.81 on Monday. The company has a debt-to-equity ratio of 35.24, a current ratio of 1.28 and a quick ratio of 1.28. Avis Budget Group, Inc. has a 1 year low of $20.71 and a 1 year high of $42.40. The firm has a market capitalization of $2,830.00, a price-to-earnings ratio of 13.34 and a beta of 2.57.
Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings data on Monday, November 6th. The business services provider reported $3.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.99 by $0.11. Avis Budget Group had a return on equity of 95.28% and a net margin of 1.26%. The business had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter in the previous year, the firm earned $2.47 earnings per share. The business’s revenue was up 3.6% on a year-over-year basis. equities analysts expect that Avis Budget Group, Inc. will post 2.65 EPS for the current year.
In other Avis Budget Group news, CEO Shon Larry D. De sold 25,000 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $42.00, for a total value of $1,050,000.00. Following the sale, the chief executive officer now directly owns 222,365 shares in the company, valued at $9,339,330. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP David T. Calabria sold 1,300 shares of the business’s stock in a transaction on 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 owns 5,662 shares in the company, valued at $203,039.32. The disclosure for this sale can be found here. In the last three months, insiders sold 460,631 shares of company stock worth $18,182,832. Insiders own 2.80% of the company’s stock.
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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.
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