Avis Budget Group, Inc. (NASDAQ:CAR) Chairman Bernardo Hees Purchases 29,400 Shares of Stock

Avis Budget Group, Inc. (NASDAQ:CARGet Rating) Chairman Bernardo Hees acquired 29,400 shares of the stock in a transaction dated Friday, June 10th. The shares were bought at an average price of $168.69 per share, with a total value of $4,959,486.00. Following the completion of the transaction, the chairman now directly owns 479,876 shares of the company’s stock, valued at $80,950,282.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Bernardo Hees also recently made the following trade(s):

  • On Tuesday, May 24th, Bernardo Hees bought 28,334 shares of Avis Budget Group stock. The shares were purchased at an average cost of $172.78 per share, with a total value of $4,895,548.52.
  • On Wednesday, May 18th, Bernardo Hees purchased 26,000 shares of Avis Budget Group stock. The stock was purchased at an average price of $189.90 per share, for a total transaction of $4,937,400.00.

Shares of CAR opened at $160.31 on Wednesday. Avis Budget Group, Inc. has a one year low of $65.87 and a one year high of $545.11. The company has a market cap of $7.74 billion, a PE ratio of 4.94, a P/E/G ratio of 0.23 and a beta of 2.05. The stock has a 50-day moving average of $230.04 and a 200-day moving average of $219.08.

Avis Budget Group (NASDAQ:CARGet Rating) last announced its quarterly earnings data on Monday, May 2nd. The business services provider reported $9.99 EPS for the quarter, beating analysts’ consensus estimates of $3.45 by $6.54. Avis Budget Group had a negative return on equity of 635.44% and a net margin of 19.13%. During the same period in the previous year, the firm earned ($0.46) earnings per share. Equities research analysts predict that Avis Budget Group, Inc. will post 38.38 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Michigan Retirement System lifted its position in Avis Budget Group by 0.5% in the 1st quarter. State of Michigan Retirement System now owns 10,173 shares of the business services provider’s stock valued at $2,679,000 after acquiring an additional 49 shares in the last quarter. TCI Wealth Advisors Inc. raised its stake in shares of Avis Budget Group by 79.5% in the first quarter. TCI Wealth Advisors Inc. now owns 158 shares of the business services provider’s stock worth $42,000 after purchasing an additional 70 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Avis Budget Group by 2.6% in the fourth quarter. Mackenzie Financial Corp now owns 2,823 shares of the business services provider’s stock valued at $585,000 after purchasing an additional 72 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Avis Budget Group by 19.1% during the fourth quarter. Quadrant Capital Group LLC now owns 468 shares of the business services provider’s stock valued at $97,000 after buying an additional 75 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Avis Budget Group by 24.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 388 shares of the business services provider’s stock worth $103,000 after buying an additional 77 shares in the last quarter.

CAR has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Avis Budget Group from $205.00 to $190.00 and set a “neutral” rating for the company in a research note on Wednesday, February 16th. Barclays raised Avis Budget Group from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $164.00 to $245.00 in a research report on Wednesday, April 20th. StockNews.com upgraded Avis Budget Group from a “hold” rating to a “buy” rating in a research report on Thursday, June 9th. Deutsche Bank Aktiengesellschaft lifted their target price on Avis Budget Group from $193.00 to $238.00 in a report on Wednesday, May 4th. Finally, Bank of America cut Avis Budget Group from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $250.00 to $240.00 in a report on Wednesday, April 6th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $213.80.

Avis Budget Group Company Profile (Get Rating)

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; the Budget Truck brand, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 20,000 vehicles, which are rented through a network of approximately 465 dealer-operated 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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