Insider Trading at Avis Budget Group Inc.?

Xavier Trudeau
Août 13, 2017

Among 9 analysts covering Avis Budget (NASDAQ:CAR), 6 have Buy rating, 0 Sell and 3 Hold. Bank of New York Mellon Corp now owns 4,238,620 shares of the business services provider's stock valued at $125,379,000 after buying an additional 432,113 shares in the last quarter.

COPYRIGHT VIOLATION WARNING: "New Jersey Better Educational Savings Trust Has $327,000 Position in Avis Budget Group, Inc". The value of the investment in Avis Budget Group, Inc. increased from $17,000 to $38,000 increasing 123.5% for the reporting period. Nomura Holdings Inc augmented its position by buying 5,143,000 shares an increase of 7,347.1% as of 03/31/2017. Harel Insurance Investments & Financial Services Ltd. bought a new position in Avis Budget Group during the second quarter worth $191,000. Canada Pension Plan Investment Board now owns 1,310,500 shares of the business services provider's stock worth $35,737,000 after buying an additional 365,200 shares during the period. FNY Managed Accounts LLC purchased a new stake in Avis Budget Group during the first quarter valued at $102,000. LS Investment Advisors LLC raised its stake in Avis Budget Group by 27.6% in the first quarter. Bank of Montreal Can raised its stake in Avis Budget Group by 106.5% in the second quarter.

Shares of Avis Budget Group (NASDAQ:CAR) opened at 34.79 on Friday. Aecon Group Inc has $20 highest and $14.50 lowest target. (NASDAQ:CAR) ended its day at $32.34 with the rising stream of 7.48% and its total traded volume was 7.67 million shares more than the average volume. The firm has a market cap of $2.88 billion, a P/E ratio of 40.98 and a beta of 2.49.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings results on Monday, August 7th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by $0.32.

The consensus recommendation - averaging the work of 10 analysts - of 2.3 for Avis Budget Group, Inc. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.27 billion. Similarly, the company's last 5 years high P/E ratio is 281.42 and low P/E is 8.2, whereas, the industry's and sector's high P/E for the past year is 27.56 and 45.61 respectively and low P/E ratio for the last 5 years is 12.86 for the industry and 13.92 for the Sector. The company now has a consensus rating of "Hold" and an average target price of $36.40. If you are accessing this piece on another website, it was stolen and reposted in violation of global copyright & trademark legislation. Avis Budget Group also was the target of some unusual options trading on Monday.

Several other large investors also recently added to or reduced their stakes in the company. Analysts predict that Avis Budget Group will post $2.70 earnings per share for the current year. Time Warner Inc. had 90 analyst reports since August 6, 2015 according to SRatingsIntel. They issued an "overweight" rating and a $39.00 price objective on the stock. BidaskClub upgraded Avis Budget Group from a "hold" rating to a "buy" rating in a research report on Wednesday, July 19th. ValuEngine cut Avis Budget Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, May 23rd. Morgan Stanley reduced their price target on shares of Avis Budget Group from $23.00 to $19.00 and set an "underweight" rating for the company in a research note on Monday, May 8th. Equities research analysts expect that Avis Budget Group will post $2.70 earnings per share for the current year. (NASDAQ:CAR) is -5.15%, 38.99% over the last quarter, and -7.55% for the past six months. Hardy sold 908 shares of the stock in a transaction that occurred on Friday, August 11th.

NYSE:DNR) shares were trading higher by 1.39 percent ($0.02) at $1.46 a piece in Wednesday's session. The Director now owns $0 of the stock according to the SEC filing. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The average volume of a stock suggests the liquidity of a particular company. Year to date Avis Budget Group, Inc. Laurion Capital Management Lp who had been investing in Avis Budget Group (Call) for a number of months, seems to be less bullish one the $2.67B market cap company.

Now the shares of Avis Budget Group, Inc.

The rental auto company's use of analytics helps it make "decisions about how, when and where to dispose the vehicles" and will help "limit the effect of weaker residual values this year to a per-unit fleet cost increase of 2 to 5 percent", added Avis Budget CFO David Wyshner, who was also on the conference call.

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