Ronald L. Nelson Sells 250,000 Shares of Avis Budget Group, Inc. (NASDAQ:CAR) Stock

Avis Budget Group, Inc. (NASDAQ:CAR) insider Ronald L. Nelson sold 250,000 shares of the stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $41.02, for a total transaction of $10,255,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Shares of Avis Budget Group, Inc. (NASDAQ CAR) traded up 0.39% during trading on Thursday, reaching $41.29. The company had a trading volume of 948,839 shares. The firm has a market capitalization of $3.41 billion, a PE ratio of 48.63 and a beta of 2.48. Avis Budget Group, Inc. has a 12 month low of $20.71 and a 12 month high of $41.73. The stock has a 50 day moving average price of $38.83 and a 200 day moving average price of $31.16.

Avis Budget Group (NASDAQ:CAR) last announced its earnings results on Monday, August 7th. The business services provider reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.32). Avis Budget Group had a return on equity of 74.80% and a net margin of 0.86%. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the business posted $0.63 EPS. Avis Budget Group’s revenue for the quarter was down .2% on a year-over-year basis. On average, equities research analysts forecast that Avis Budget Group, Inc. will post $2.64 EPS for the current year.

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A number of institutional investors have recently bought and sold shares of CAR. BlackRock Inc. increased its stake in Avis Budget Group by 13,924.6% during the 1st quarter. BlackRock Inc. now owns 7,540,051 shares of the business services provider’s stock worth $223,034,000 after acquiring an additional 7,486,288 shares during the period. FMR LLC increased its stake in Avis Budget Group by 815.5% during the 2nd quarter. FMR LLC now owns 1,779,701 shares of the business services provider’s stock worth $48,532,000 after acquiring an additional 1,585,301 shares during the period. Bank of Montreal Can increased its stake in Avis Budget Group by 106.5% during the 2nd quarter. Bank of Montreal Can now owns 2,112,341 shares of the business services provider’s stock worth $57,604,000 after acquiring an additional 1,089,508 shares during the period. Vanguard Group Inc. increased its stake in Avis Budget Group by 16.5% during the 1st quarter. Vanguard Group Inc. now owns 7,340,105 shares of the business services provider’s stock worth $217,121,000 after acquiring an additional 1,037,148 shares during the period. Finally, Capital World Investors bought a new position in Avis Budget Group during the 2nd quarter worth $17,780,000.

A number of analysts recently issued reports on CAR shares. BidaskClub raised shares of Avis Budget Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 14th. Zacks Investment Research raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. ValuEngine downgraded shares of Avis Budget Group from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. J P Morgan Chase & Co started coverage on shares of Avis Budget Group in a research report on Friday, August 4th. They set an “overweight” rating and a $39.00 target price for the company. Finally, B. Riley started coverage on shares of Avis Budget Group in a research report on Friday, September 22nd. They set a “buy” rating and a $36.00 target price for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Avis Budget Group presently has an average rating of “Buy” and an average price target of $38.20.

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.

Insider Buying and Selling by Quarter for Avis Budget Group (NASDAQ:CAR)

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