Avis Budget Group, Inc. (NASDAQ:CAR) Director Srs Investment Management, Llc acquired 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 18th. The shares were acquired at an average cost of $35.43 per share, with a total value of $1,771,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Srs Investment Management, Llc also recently made the following trade(s):

  • On Friday, November 20th, Srs Investment Management, Llc purchased 50,000 shares of Avis Budget Group stock. The stock was acquired at an average cost of $34.79 per share, for a total transaction of $1,739,500.00.
  • On Thursday, November 12th, Srs Investment Management, Llc acquired 79,907 shares of Avis Budget Group stock. The shares were acquired at an average cost of $35.28 per share, with a total value of $2,819,118.96.
  • On Friday, September 11th, Srs Investment Management, Llc bought 101,665 shares of Avis Budget Group stock. The stock was bought at an average cost of $33.36 per share, for a total transaction of $3,391,544.40.
  • On Wednesday, September 9th, Srs Investment Management, Llc bought 109,715 shares of Avis Budget Group stock. The shares were bought at an average price of $34.29 per share, with a total value of $3,762,127.35.
  • On Friday, September 4th, Srs Investment Management, Llc purchased 39,549 shares of Avis Budget Group stock. The stock was bought at an average cost of $34.72 per share, for a total transaction of $1,373,141.28.
  • On Wednesday, September 2nd, Srs Investment Management, Llc acquired 33,064 shares of Avis Budget Group stock. The shares were bought at an average price of $34.88 per share, for a total transaction of $1,153,272.32.
  • On Monday, August 31st, Srs Investment Management, Llc acquired 140,350 shares of Avis Budget Group stock. The shares were bought at an average cost of $34.32 per share, with a total value of $4,816,812.00.
  • On Thursday, August 27th, Srs Investment Management, Llc bought 285,390 shares of Avis Budget Group stock. The stock was purchased at an average cost of $33.50 per share, for a total transaction of $9,560,565.00.
  • On Monday, August 24th, Srs Investment Management, Llc purchased 212,337 shares of Avis Budget Group stock. The shares were purchased at an average price of $32.82 per share, for a total transaction of $6,968,900.34.

Shares of Avis Budget Group stock opened at $34.79 on Friday. The company’s fifty day simple moving average is $33.44 and its two-hundred day simple moving average is $28.24. Avis Budget Group, Inc. has a 12-month low of $6.35 and a 12-month high of $52.98. The firm has a market cap of $2.42 billion, a PE ratio of -5.32 and a beta of 2.51. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 52.72.

Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Thursday, October 29th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.73. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Avis Budget Group had a negative return on equity of 199.17% and a negative net margin of 7.28%. Avis Budget Group’s quarterly revenue was down 44.3% on a year-over-year basis. During the same period last year, the firm earned $2.96 earnings per share. As a group, sell-side analysts expect that Avis Budget Group, Inc. will post -6.29 earnings per share for the current fiscal year.

Several equities analysts have recently commented on CAR shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $38.00 price objective (up from $34.00) on shares of Avis Budget Group in a research report on Friday, October 30th. Barclays lifted their price target on shares of Avis Budget Group from $28.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 28th. Zacks Investment Research upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating and set a $38.00 price objective for the company in a report on Wednesday, October 21st. BidaskClub lowered shares of Avis Budget Group from a “buy” rating to a “hold” rating in a report on Tuesday, November 3rd. Finally, Morgan Stanley boosted their price target on shares of Avis Budget Group from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Avis Budget Group currently has an average rating of “Hold” and a consensus target price of $35.17.

Several institutional investors and hedge funds have recently bought and sold shares of the company. SRS Investment Management LLC boosted its stake in shares of Avis Budget Group by 8.1% during the 3rd quarter. SRS Investment Management LLC now owns 18,048,628 shares of the business services provider’s stock valued at $475,040,000 after purchasing an additional 1,359,688 shares in the last quarter. BlackRock Inc. lifted its holdings in Avis Budget Group by 25.7% in the third quarter. BlackRock Inc. now owns 6,373,593 shares of the business services provider’s stock worth $167,753,000 after buying an additional 1,304,257 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Avis Budget Group by 35.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,632,595 shares of the business services provider’s stock worth $42,970,000 after buying an additional 423,078 shares during the period. Samlyn Capital LLC bought a new stake in Avis Budget Group during the 3rd quarter valued at approximately $8,487,000. Finally, Morgan Stanley grew its holdings in shares of Avis Budget Group by 211.2% during the 3rd quarter. Morgan Stanley now owns 438,638 shares of the business services provider’s stock worth $11,545,000 after acquiring an additional 297,694 shares during the period. 97.81% of the stock is currently owned by hedge funds and other institutional investors.

About Avis Budget Group

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary services to businesses and consumers. It operates the Avis brand, a vehicle rental system that supply rental cars to the premium commercial and leisure segments of the travel industry; the Budget Truck brand, a local and one-way truck rental businesses with a fleet of approximately 20,000 vehicles, which are rented through a network of approximately 575 dealer-operated and 420 company-operated locations that serve the consumer and light commercial sectors in the continental United States; and the Zipcar brand, a car sharing network.

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