Avis Budget Group Inc. (NASDAQ:CAR) insider Ronald L. Nelson sold 50,000 shares of the firm’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $38.00, for a total transaction of $1,900,000.00. Following the completion of the transaction, the insider now owns 893,949 shares of the company’s stock, valued at $33,970,062. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Avis Budget Group Inc. (NASDAQ:CAR) opened at 37.01 on Wednesday. The firm has a market cap of $3.36 billion, a P/E ratio of 22.36 and a beta of 2.63. Avis Budget Group Inc. has a one year low of $21.73 and a one year high of $53.04. The firm’s 50-day moving average price is $36.62 and its 200 day moving average price is $31.06.

Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Tuesday, August 2nd. The company reported $0.63 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by $0.06. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.21 billion. Avis Budget Group had a return on equity of 58.78% and a net margin of 1.91%. During the same quarter in the previous year, the firm posted $0.84 earnings per share. Avis Budget Group’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, equities research analysts forecast that Avis Budget Group Inc. will post $3.04 EPS for the current year.

Several institutional investors have recently modified their holdings of CAR. Partnervest Advisory Services LLC raised its position in shares of Avis Budget Group by 2.2% in the second quarter. Partnervest Advisory Services LLC now owns 8,119 shares of the company’s stock valued at $262,000 after buying an additional 174 shares in the last quarter. Calvert Investment Management Inc. raised its position in shares of Avis Budget Group by 2.7% in the second quarter. Calvert Investment Management Inc. now owns 7,749 shares of the company’s stock valued at $250,000 after buying an additional 201 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Avis Budget Group by 3.7% in the first quarter. Prudential Financial Inc. now owns 15,759 shares of the company’s stock valued at $432,000 after buying an additional 563 shares in the last quarter. Fiera Capital Corp raised its position in shares of Avis Budget Group by 0.9% in the second quarter. Fiera Capital Corp now owns 88,900 shares of the company’s stock valued at $2,865,000 after buying an additional 821 shares in the last quarter. Finally, Amalgamated Bank raised its position in shares of Avis Budget Group by 12.5% in the second quarter. Amalgamated Bank now owns 13,353 shares of the company’s stock valued at $494,000 after buying an additional 1,482 shares in the last quarter.

CAR has been the subject of a number of research analyst reports. Deutsche Bank AG increased their price target on shares of Avis Budget Group from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Credit Suisse Group AG reissued a “buy” rating and issued a $34.00 price target on shares of Avis Budget Group in a research report on Wednesday, August 3rd. Zacks Investment Research raised shares of Avis Budget Group from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research report on Friday, August 12th. Barclays PLC increased their price target on shares of Avis Budget Group from $31.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 10th. Finally, Macquarie initiated coverage on shares of Avis Budget Group in a research report on Thursday, August 25th. They issued an “outperform” rating and a $44.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. Avis Budget Group has an average rating of “Buy” and a consensus price target of $34.28.

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 is a rental car supplier and Budget is a rental vehicle supplier. It also owns Payless, which a car rental brand, and Apex, which is a car rental brand in New Zealand and Australia.

5 Day Chart for NASDAQ:CAR

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