Oregon Public Employees Retirement Fund Sells 1,573 Shares of Avis Budget Group, Inc. (NASDAQ:CAR)

Oregon Public Employees Retirement Fund reduced its stake in shares of Avis Budget Group, Inc. (NASDAQ:CARGet Rating) by 15.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,405 shares of the business services provider’s stock after selling 1,573 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Avis Budget Group were worth $1,248,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CAR. CWM LLC grew its stake in shares of Avis Budget Group by 735.0% during the second quarter. CWM LLC now owns 167 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 147 shares during the last quarter. Ellevest Inc. lifted its holdings in Avis Budget Group by 130.3% in the second quarter. Ellevest Inc. now owns 205 shares of the business services provider’s stock valued at $30,000 after buying an additional 116 shares during the period. Lazard Asset Management LLC acquired a new position in Avis Budget Group in the second quarter valued at approximately $47,000. Wipfli Financial Advisors LLC acquired a new position in Avis Budget Group in the third quarter valued at approximately $64,000. Finally, SeaCrest Wealth Management LLC acquired a new position in Avis Budget Group in the second quarter valued at approximately $71,000. 98.31% of the stock is owned by institutional investors.

Insider Activity at Avis Budget Group

In related news, SVP Jean M. Sera sold 4,172 shares of the firm’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 transaction, the senior vice president now owns 18,535 shares of the company’s stock, valued at $4,351,091.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Patrick K. Rankin sold 10,000 shares of Avis Budget Group stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $230.05, for a total value of $2,300,500.00. Following the completion of the transaction, the insider now owns 41,935 shares of the company’s stock, valued at approximately $9,647,146.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jean M. Sera sold 4,172 shares of Avis Budget Group stock in a transaction dated 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 transaction, the senior vice president now directly 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. Over the last 90 days, insiders sold 63,322 shares of company stock valued at $12,782,429. Corporate insiders own 37.30% of the company’s stock.

Wall Street Analysts Forecast Growth

CAR has been the topic of several analyst reports. StockNews.com initiated coverage on shares of Avis Budget Group in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Avis Budget Group from $218.00 to $233.00 in a report on Wednesday, November 2nd. JPMorgan Chase & Co. upgraded shares of Avis Budget Group from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $230.00 to $231.00 in a report on Monday, October 24th. Susquehanna initiated coverage on shares of Avis Budget Group in a report on Tuesday, December 6th. They issued a “neutral” rating and a $225.00 target price on the stock. Finally, Morgan Stanley increased their target price 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. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $217.75.

Avis Budget Group Stock Up 2.5 %

Shares of NASDAQ:CAR opened at $191.93 on Monday. Avis Budget Group, Inc. has a 12 month low of $131.83 and a 12 month high of $327.80. The company’s fifty day simple moving average is $191.74 and its 200 day simple moving average is $182.67. The firm has a market cap of $7.96 billion, a price-to-earnings ratio of 3.57 and a beta of 2.29.

Avis Budget Group (NASDAQ:CARGet Rating) last issued its quarterly earnings data on Monday, October 31st. The business services provider reported $21.70 EPS for the quarter, topping analysts’ consensus estimates of $14.80 by $6.90. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.54 billion. Avis Budget Group had a net margin of 23.09% and a negative return on equity of 473.08%. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period last year, the business posted $10.74 earnings per share. Research analysts expect that Avis Budget Group, Inc. will post 52.99 earnings per share for the current fiscal year.

About Avis Budget Group

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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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