Avis Budget Group, Inc. (NASDAQ:CAR) Shares Purchased by Walleye Capital LLC

Walleye Capital LLC lifted its holdings in Avis Budget Group, Inc. (NASDAQ:CARGet Rating) by 235.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,875 shares of the business services provider’s stock after purchasing an additional 2,017 shares during the period. Walleye Capital LLC’s holdings in Avis Budget Group were worth $423,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CAR. Truist Financial Corp grew its holdings in shares of Avis Budget Group by 7.9% in the first quarter. Truist Financial Corp now owns 1,393 shares of the business services provider’s stock valued at $367,000 after purchasing an additional 102 shares in the last quarter. Nisa Investment Advisors LLC acquired a new position in shares of Avis Budget Group in the first quarter valued at approximately $748,000. Mutual of America Capital Management LLC grew its holdings in shares of Avis Budget Group by 1.7% in the first quarter. Mutual of America Capital Management LLC now owns 36,544 shares of the business services provider’s stock valued at $9,622,000 after purchasing an additional 611 shares in the last quarter. National Asset Management Inc. acquired a new position in Avis Budget Group during the 1st quarter worth approximately $614,000. Finally, Envestnet Asset Management Inc. grew its holdings in Avis Budget Group by 14.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 3,050 shares of the business services provider’s stock worth $803,000 after acquiring an additional 382 shares in the last quarter. Institutional investors and hedge funds own 98.69% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on CAR. StockNews.com began coverage on shares of Avis Budget Group in a report on Wednesday, October 12th. They set a “hold” rating for the company. JPMorgan Chase & Co. upgraded shares of Avis Budget Group from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $230.00 to $231.00 in a report on Monday, October 24th. Jefferies Financial Group cut shares of Avis Budget Group to a “buy” rating and lowered their price target for the stock from $309.00 to $270.00 in a report on Tuesday, October 25th. Morgan Stanley boosted their price target on shares of Avis Budget Group from $150.00 to $160.00 and gave the stock an “underweight” rating in a report on Thursday, November 3rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Avis Budget Group from $218.00 to $233.00 in a report on Wednesday, November 2nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $215.33.

Avis Budget Group Trading Down 0.4 %

Shares of Avis Budget Group stock opened at $236.12 on Thursday. The company has a fifty day simple moving average of $188.80 and a 200-day simple moving average of $182.81. Avis Budget Group, Inc. has a 12-month low of $131.83 and a 12-month high of $327.80. The stock has a market cap of $9.79 billion, a price-to-earnings ratio of 4.40 and a beta of 2.26.

Avis Budget Group (NASDAQ:CARGet Rating) last issued its earnings results on Monday, October 31st. The business services provider reported $21.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $14.80 by $6.90. Avis Budget Group had a net margin of 23.09% and a negative return on equity of 473.08%. The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter in the prior year, the business posted $10.74 EPS. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. On average, analysts forecast that Avis Budget Group, Inc. will post 51.73 earnings per share for the current fiscal year.

Insider Activity at Avis Budget Group

In related news, SVP Jean M. Sera sold 4,172 shares of the company’s stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $234.75, for a total value of $979,377.00. Following the completion of the sale, the senior vice president now owns 18,535 shares in the company, valued at approximately $4,351,091.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Edward P. Linnen sold 9,000 shares of the company’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $220.78, for a total value of $1,987,020.00. Following the completion of the sale, the executive vice president now owns 36,468 shares in the company, valued at approximately $8,051,405.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Jean M. Sera sold 4,172 shares of the company’s stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $234.75, for a total transaction of $979,377.00. Following the completion of the sale, the senior vice president now owns 18,535 shares of the company’s stock, valued at approximately $4,351,091.25. The disclosure for this sale can be found here. 37.30% of the stock is owned by insiders.

Avis Budget Group Profile

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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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Institutional Ownership by Quarter for Avis Budget Group (NASDAQ:CAR)

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