Insider buying: Chairman of Avis Budget Group, Inc. (NASDAQ: CAR) buys 26,000 shares
Avis Budget Group, Inc. (NASDAQ: CAR – Get a rating) President Bernardo Hees bought 26,000 shares of the company in a trade dated Wednesday, May 18. The stock was purchased at an average price of $189.90 per share, for a total transaction of $4,937,400.00. Following the purchase, the president now owns 422,142 shares of the company, valued at approximately $80,164,765.80. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink.
NASDAQ:CAR traded at $5.04 in Friday’s midday session, hitting $174.68. The stock recorded a trading volume of 996,266 shares, compared to an average volume of 1,042,821 shares. Avis Budget Group, Inc. has a 1-year minimum of $65.87 and a 1-year maximum of $545.11. The company’s fifty-day simple moving average is $260.29 and its 200-day simple moving average is $232.68. The stock has a market capitalization of $8.43 billion, a P/E ratio of 5.54, a PEG ratio of 0.27 and a beta of 2.02.
Avis Budget Group (NASDAQ: CAR – Get a rating) last released its results on Monday, May 2. The business services provider reported earnings per share (EPS) of $9.99 for the quarter, beating analyst consensus estimates of $3.45 from $6.54. Avis Budget Group achieved a net margin of 19.13% and a negative return on equity of 635.44%. During the same period last year, the company posted ($0.46) EPS. As a group, equity research analysts expect Avis Budget Group, Inc. to post EPS of 35.95 for the current year.
Major investors have recently been buying and selling stocks. Lindbrook Capital LLC increased its stake in Avis Budget Group by 737.5% in the 1st quarter. Lindbrook Capital LLC now owns 134 shares of the business services provider valued at $35,000 after acquiring 118 additional shares in the last quarter. TCI Wealth Advisors Inc. increased its stake in Avis Budget Group by 79.5% in the 1st quarter. TCI Wealth Advisors Inc. now owns 158 shares of the business services provider valued at $42,000 after acquiring 70 additional shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Avis Budget Group in Q4, valued at approximately $33,000. First Quadrant LLC CA acquired a new position in Avis Budget Group in Q1 worth approximately $57,000. Finally, AlphaCentric Advisors LLC acquired a new position in shares of Avis Budget Group in Q4 worth approximately $51,000.
The CAR has been the subject of several recent analyst reports. Morgan Stanley lowered its price target on Avis Budget Group shares from $170.00 to $168.00 and set an “underweight” rating for the company in a Wednesday, Feb. 16 report. Deutsche Bank Aktiengesellschaft raised its price target on Avis Budget Group shares from $193.00 to $238.00 in a Wednesday, May 4 research report. Bank of America downgraded shares of Avis Budget Group from a “neutral” rating to an “underperforming” rating and cut its price target for the company from $250.00 to $240.00 in a report Wednesday, April 6. Barclays raised shares of Avis Budget Group from an “underweight” rating to an “equal weight” rating and raised its price target for the company from $164.00 to $245.00 in a report from the Wednesday April 20. Finally, JPMorgan Chase & Co. cut its price target on Avis Budget Group shares from $205.00 to $190.00 and set a “neutral” rating on the stock in a Wednesday, February 16 report. . Two equity research analysts gave the stock a sell rating, four issued a hold rating and one gave the company’s stock a strong buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $231.83.
Avis Budget Group Company Profile (Get a rating)
Avis Budget Group, Inc., together with its subsidiaries, provides car and truck rental, car sharing, and ancillary products and services to businesses and consumers. It operates the Avis brand, which provides vehicle rental and other mobility solutions to the premium business and leisure segments of the travel industry; the Budget Truck brand, a local one-way truck and van rental company with a fleet of approximately 20,000 vehicles, which are rented through a network of approximately 465 dealer-operated locations and 385 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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