Barclays PLC Has $15.60 Million Stock Position in Avis Budget Group, Inc. (NASDAQ:CAR)

Barclays PLC trimmed its holdings in shares of Avis Budget Group, Inc. (NASDAQ:CARGet Rating) by 7.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 105,057 shares of the business services provider’s stock after selling 8,638 shares during the period. Barclays PLC owned approximately 0.22% of Avis Budget Group worth $15,597,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Renaissance Technologies LLC increased its position in Avis Budget Group by 125.2% in the 2nd quarter. Renaissance Technologies LLC now owns 132,200 shares of the business services provider’s stock worth $19,444,000 after purchasing an additional 73,500 shares during the last quarter. Ossiam acquired a new position in Avis Budget Group in the 2nd quarter worth about $174,000. Counterpoint Mutual Funds LLC increased its position in Avis Budget Group by 261.0% in the 2nd quarter. Counterpoint Mutual Funds LLC now owns 1,361 shares of the business services provider’s stock worth $200,000 after purchasing an additional 984 shares during the last quarter. ExodusPoint Capital Management LP increased its position in Avis Budget Group by 1,890.9% in the 2nd quarter. ExodusPoint Capital Management LP now owns 30,500 shares of the business services provider’s stock worth $4,486,000 after purchasing an additional 28,968 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in Avis Budget Group by 145.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 29,981 shares of the business services provider’s stock worth $4,410,000 after purchasing an additional 17,788 shares during the last quarter. 98.31% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Avis Budget Group news, EVP Izilda P. Martins sold 4,150 shares of the firm’s stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $186.21, for a total value of $772,771.50. Following the completion of the sale, the executive vice president now owns 16,645 shares in the company, valued at approximately $3,099,465.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Avis Budget Group news, EVP Izilda P. Martins sold 4,150 shares of the firm’s stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $186.21, for a total value of $772,771.50. Following the completion of the sale, the executive vice president now owns 16,645 shares in the company, valued at approximately $3,099,465.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph A. Ferraro sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $184.96, for a total value of $2,959,360.00. Following the completion of the sale, the chief executive officer now owns 170,309 shares of the company’s stock, valued at approximately $31,500,352.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,322 shares of company stock worth $12,782,429. 37.30% of the stock is currently owned by company insiders.

Avis Budget Group Stock Down 3.1 %

Shares of NASDAQ:CAR opened at $188.15 on Wednesday. The business has a 50 day moving average price of $189.95 and a 200 day moving average price of $183.15. Avis Budget Group, Inc. has a twelve month low of $131.83 and a twelve month high of $327.80. The company has a market cap of $7.80 billion, a price-to-earnings ratio of 3.50 and a beta of 2.29.

Avis Budget Group (NASDAQ:CARGet Rating) last announced its earnings results on Monday, October 31st. The business services provider reported $21.70 earnings per share for the quarter, beating the consensus estimate of $14.80 by $6.90. Avis Budget Group had a negative return on equity of 473.08% and a net margin of 23.09%. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter in the prior year, the company earned $10.74 EPS. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. Analysts anticipate that Avis Budget Group, Inc. will post 52.99 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CAR shares. Jefferies Financial Group lowered Avis Budget Group to a “buy” rating and lowered their price objective for the company from $309.00 to $270.00 in a report on Tuesday, October 25th. Susquehanna Bancshares started coverage on Avis Budget Group in a report on Tuesday, December 6th. They set a “neutral” rating and a $225.00 price objective on the stock. JPMorgan Chase & Co. raised Avis Budget Group from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $230.00 to $231.00 in a report on Monday, October 24th. Morgan Stanley increased their price objective on Avis Budget Group from $150.00 to $160.00 and gave the company an “underweight” rating in a report on Thursday, November 3rd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on 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, five have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Avis Budget Group has a consensus rating of “Hold” and an average target price of $217.75.

About Avis Budget Group

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Avis Budget Group, Inc engages in the provision of vehicle sharing and rental services. It operates through the Americas and International segments. The Americas segment licenses the company’s brands to third parties for vehicle rentals and ancillary products and services in North America, South America, Central America, and the Caribbean.

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

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