Avis Budget Group (CAR) Trading Down 8.8%

Avis Budget Group Inc. (NASDAQ:CAR)’s share price fell 8.8% during trading on Thursday . The company traded as low as $40.36 and last traded at $40.38. 5,206,822 shares were traded during trading, an increase of 155% from the average session volume of 2,043,286 shares. The stock had previously closed at $44.26.

A number of brokerages recently commented on CAR. Zacks Investment Research upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Tuesday, January 23rd. BidaskClub downgraded Avis Budget Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 3rd. Northcoast Research reiterated a “buy” rating on shares of Avis Budget Group in a research report on Tuesday, November 7th. TheStreet upgraded Avis Budget Group from a “c” rating to a “b-” rating in a research report on Friday, November 10th. Finally, Deutsche Bank reduced their price objective on Avis Budget Group from $49.00 to $48.00 and set a “buy” rating on the stock in a research report on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $37.70.

The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 35.24. The company has a market capitalization of $3,390.00, a PE ratio of 30.36 and a beta of 2.45.

In other Avis Budget Group news, SVP David T. Calabria sold 1,250 shares of Avis Budget Group stock in a transaction on Friday, December 8th. The stock was sold at an average price of $41.71, for a total value of $52,137.50. Following the sale, the senior vice president now owns 4,412 shares in the company, valued at $184,024.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Srs Investment Management, Llc bought 3,500,000 shares of Avis Budget Group stock in a transaction on Friday, December 8th. The stock was acquired at an average price of $40.56 per share, for a total transaction of $141,960,000.00. The disclosure for this purchase can be found here. Insiders sold 463,750 shares of company stock worth $18,702,638 in the last 90 days. Company insiders own 2.80% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Ameriprise Financial Inc. grew its stake in shares of Avis Budget Group by 7.1% in the second quarter. Ameriprise Financial Inc. now owns 252,995 shares of the business services provider’s stock valued at $6,891,000 after buying an additional 16,821 shares in the last quarter. Thrivent Financial For Lutherans grew its stake in shares of Avis Budget Group by 3.6% in the second quarter. Thrivent Financial For Lutherans now owns 16,820 shares of the business services provider’s stock valued at $459,000 after buying an additional 580 shares in the last quarter. Northern Trust Corp grew its stake in shares of Avis Budget Group by 73.9% in the second quarter. Northern Trust Corp now owns 1,325,555 shares of the business services provider’s stock valued at $36,148,000 after buying an additional 563,438 shares in the last quarter. FMR LLC grew its stake in shares of Avis Budget Group by 815.5% in the second quarter. FMR LLC now owns 1,779,701 shares of the business services provider’s stock valued at $48,532,000 after buying an additional 1,585,301 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Avis Budget Group by 23.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,478,385 shares of the business services provider’s stock valued at $40,313,000 after buying an additional 279,231 shares in the last quarter.

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About Avis Budget Group

Avis Budget Group Inc is a provider of vehicle rental and car sharing services. The Company operates three brands, which include Avis, Budget and Zipcar. Avis and Budget are a rental car supplier. It also owns Payless, which a car rental brand; Apex, which is a car rental brand in New Zealand and Australia; Maggiore, a vehicle rental brand in Italy, and France Cars, which operates light commercial vehicle fleets in France.

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