John D. Jr. Hardy Sells 831 Shares of Avis Budget Group, Inc. (CAR) Stock
Avis Budget Group, Inc. (NASDAQ:CAR) Director John D. Jr. Hardy sold 831 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $35.36, for a total transaction of $29,384.16. Following the completion of the sale, the director now directly owns 831 shares of the company’s stock, valued at $29,384.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Avis Budget Group, Inc. (NASDAQ CAR) traded down $0.44 on Monday, hitting $33.46. 4,172,800 shares of the stock traded hands, compared to its average volume of 2,866,895. Avis Budget Group, Inc. has a 12-month low of $20.71 and a 12-month high of $42.40. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 35.24. The firm has a market capitalization of $2,750.00, a P/E ratio of 12.82 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 (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 firm had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the prior year, the company posted $2.47 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. research analysts expect that Avis Budget Group, Inc. will post 2.6 EPS for the current fiscal year.
The business also recently disclosed a monthly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were issued a dividend of $0.107 per share. The ex-dividend date was Thursday, September 28th. This represents a $1.28 annualized dividend and a dividend yield of 3.84%.
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Several institutional investors and hedge funds have recently bought and sold shares of the company. Stifel Financial Corp acquired a new position in shares of Avis Budget Group during the third quarter valued at about $263,000. Dimensional Fund Advisors LP increased its holdings in shares of Avis Budget Group by 1.9% during the third quarter. Dimensional Fund Advisors LP now owns 1,506,635 shares of the business services provider’s stock valued at $57,343,000 after acquiring an additional 28,250 shares in the last quarter. Brown Advisory Inc. acquired a new position in shares of Avis Budget Group during the third quarter valued at about $204,000. Schwab Charles Investment Management Inc. increased its holdings in shares of Avis Budget Group by 19.9% during the third quarter. Schwab Charles Investment Management Inc. now owns 588,118 shares of the business services provider’s stock valued at $22,384,000 after acquiring an additional 97,487 shares in the last quarter. Finally, Picton Mahoney Asset Management acquired a new position in shares of Avis Budget Group during the third quarter valued at about $1,358,000.
CAR has been the subject of a number of research reports. BidaskClub lowered shares of Avis Budget Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 23rd. B. Riley initiated coverage on shares of Avis Budget Group in a research note on Friday, September 22nd. They issued a “buy” rating and a $36.00 price objective for the company. ValuEngine raised shares of Avis Budget Group from a “hold” rating to a “buy” rating in a research note on Thursday, October 5th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $49.00 price objective (up from $44.00) on shares of Avis Budget Group in a research note on Friday, October 6th. Finally, MKM Partners upped their price objective on shares of Avis Budget Group from $36.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, October 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $37.70.
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 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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