Neuberger Berman Group LLC reduced its position in shares of Avis Budget Group Inc. (NASDAQ:CAR) by 9.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,137,876 shares of the business services provider’s stock after selling 344,578 shares during the period. Neuberger Berman Group LLC owned approximately 3.85% of Avis Budget Group worth $119,428,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in CAR. Pacer Advisors Inc. raised its holdings in Avis Budget Group by 4.0% in the 2nd quarter. Pacer Advisors Inc. now owns 9,261 shares of the business services provider’s stock valued at $253,000 after acquiring an additional 356 shares in the last quarter. Wittenberg Investment Management Inc. raised its holdings in Avis Budget Group by 0.7% in the 2nd quarter. Wittenberg Investment Management Inc. now owns 69,309 shares of the business services provider’s stock valued at $1,890,000 after acquiring an additional 500 shares in the last quarter. Thrivent Financial For Lutherans raised its holdings in Avis Budget Group by 3.6% in the 2nd quarter. Thrivent Financial For Lutherans now owns 16,820 shares of the business services provider’s stock valued at $459,000 after acquiring an additional 580 shares in the last quarter. New York State Common Retirement Fund raised its holdings in Avis Budget Group by 1.7% in the 3rd quarter. New York State Common Retirement Fund now owns 90,399 shares of the business services provider’s stock valued at $3,441,000 after acquiring an additional 1,494 shares in the last quarter. Finally, First Republic Investment Management Inc. raised its holdings in Avis Budget Group by 2.1% in the 3rd quarter. First Republic Investment Management Inc. now owns 84,853 shares of the business services provider’s stock valued at $3,229,000 after acquiring an additional 1,777 shares in the last quarter.

CAR has been the subject of several analyst reports. Morgan Stanley dropped their price objective on Avis Budget Group from $19.00 to $18.00 and set an “underweight” rating for the company in a report on Friday, August 25th. Credit Suisse Group reissued a “hold” rating on shares of Avis Budget Group in a report on Thursday, September 14th. Deutsche Bank lowered their price target on Avis Budget Group from $49.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, November 8th. Goldman Sachs Group reissued a “hold” rating and set a $37.00 price target on shares of Avis Budget Group in a report on Thursday, September 7th. Finally, Barclays boosted their price target on Avis Budget Group from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $37.70.

In related news, Director John D. Jr. Hardy sold 831 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $35.36, for a total transaction of $29,384.16. Following the sale, the director now owns 831 shares in the company, valued at approximately $29,384.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP David T. Calabria sold 1,250 shares of the business’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $41.71, for a total value of $52,137.50. Following the sale, the senior vice president now owns 4,412 shares in the company, valued at approximately $184,024.52. The disclosure for this sale can be found here. Insiders have sold a total of 739,581 shares of company stock worth $30,037,022 in the last 90 days. 2.80% of the stock is currently owned by corporate insiders.

Avis Budget Group Inc. (NASDAQ:CAR) opened at $42.55 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 35.24. Avis Budget Group Inc. has a fifty-two week low of $20.71 and a fifty-two week high of $43.32. The company has a market capitalization of $3,476.70, a price-to-earnings ratio of 16.36 and a beta of 2.53.

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

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Avis Budget Group Company 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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