Hsbc Holdings PLC Sells 31,769 Shares of Avis Budget Group, Inc. $CAR

Hsbc Holdings PLC decreased its position in Avis Budget Group, Inc. (NASDAQ:CAR) by 90.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 3,181 shares of the business services provider’s stock after selling 31,769 shares during the period. Hsbc Holdings PLC’s holdings in Avis Budget Group were worth $241,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Avis Budget Group by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 1,610,186 shares of the business services provider’s stock valued at $122,213,000 after acquiring an additional 46,038 shares in the last quarter. Nomura Holdings Inc. raised its stake in shares of Avis Budget Group by 93.2% during the 4th quarter. Nomura Holdings Inc. now owns 490,473 shares of the business services provider’s stock worth $39,537,000 after purchasing an additional 236,576 shares in the last quarter. Steadfast Capital Management LP bought a new stake in shares of Avis Budget Group during the 4th quarter worth approximately $25,747,000. Jefferies Financial Group Inc. raised its stake in shares of Avis Budget Group by 1,391.0% during the 4th quarter. Jefferies Financial Group Inc. now owns 253,200 shares of the business services provider’s stock worth $20,410,000 after purchasing an additional 236,218 shares in the last quarter. Finally, Mizuho Markets Americas LLC bought a new stake in shares of Avis Budget Group during the 1st quarter worth approximately $18,975,000. Institutional investors own 96.35% of the company’s stock.

Avis Budget Group Trading Down 0.4%

CAR stock opened at $156.53 on Friday. The firm has a market capitalization of $5.51 billion, a PE ratio of -2.47 and a beta of 2.11. Avis Budget Group, Inc. has a 1-year low of $54.03 and a 1-year high of $212.81. The business’s 50 day simple moving average is $172.54 and its 200 day simple moving average is $121.45.

Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Tuesday, July 29th. The business services provider reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $2.02 by ($1.92). The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.02 billion. Avis Budget Group had a negative return on equity of 14.74% and a negative net margin of 19.06%.The firm’s revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.41 earnings per share. As a group, sell-side analysts predict that Avis Budget Group, Inc. will post 8.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Zacks Research upgraded Avis Budget Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 21st. The Goldman Sachs Group reiterated a “sell” rating and set a $105.00 price objective (up previously from $87.00) on shares of Avis Budget Group in a research note on Friday, August 1st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $196.00 price objective (up previously from $130.00) on shares of Avis Budget Group in a research note on Thursday, July 10th. Barclays lifted their price target on Avis Budget Group from $105.00 to $150.00 and gave the stock an “equal weight” rating in a report on Monday, August 4th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $155.00 price target on shares of Avis Budget Group in a report on Thursday, July 31st. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Avis Budget Group presently has a consensus rating of “Reduce” and a consensus price target of $143.80.

Insider Buying and Selling at Avis Budget Group

In other Avis Budget Group news, Director Bernardo Hees sold 402,200 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $156.59, for a total transaction of $62,980,498.00. Following the transaction, the director owned 116,521 shares in the company, valued at $18,246,023.39. This trade represents a 77.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Edward P. Linnen sold 10,000 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $156.83, for a total value of $1,568,300.00. Following the transaction, the executive vice president owned 40,915 shares in the company, valued at $6,416,699.45. The trade was a 19.64% decrease in their position. The disclosure for this sale can be found here. 52.80% of the stock is owned by company insiders.

About Avis Budget Group

Avis Budget Group, Inc engages in the provision of vehicle sharing and rental services. It operates through the following segments: Americas, International, and Corporate and Other. The Americas segment includes the vehicle rental and car sharing operations in North America, South America, Central America, and the Caribbean.