Great West Life Assurance Co. Can Takes $3.31 Million Position in Avis Budget Group, Inc. (NASDAQ:CAR)

Great West Life Assurance Co. Can acquired a new stake in Avis Budget Group, Inc. (NASDAQ:CARGet Rating) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 22,311 shares of the business services provider’s stock, valued at approximately $3,307,000.

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

Avis Budget Group Trading Down 3.1 %

Shares of NASDAQ CAR opened at $188.15 on Wednesday. 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 capitalization of $7.80 billion, a price-to-earnings ratio of 3.50 and a beta of 2.29. The business has a 50 day simple moving average of $189.95 and a 200-day simple moving average of $183.15.

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 firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.54 billion. Avis Budget Group had a negative return on equity of 473.08% and a net margin of 23.09%. The firm’s revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the business earned $10.74 EPS. As a group, equities analysts predict that Avis Budget Group, Inc. will post 52.99 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Joseph A. Ferraro sold 16,000 shares of the company’s stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $184.96, for a total transaction of $2,959,360.00. Following the completion of the transaction, the chief executive officer now directly owns 170,309 shares in the company, valued at approximately $31,500,352.64. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Joseph A. Ferraro sold 16,000 shares of the company’s stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $184.96, for a total transaction of $2,959,360.00. Following the completion of the transaction, the chief executive officer now directly owns 170,309 shares in the company, valued at approximately $31,500,352.64. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Jean M. Sera sold 4,172 shares of the company’s stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $234.75, for a total value of $979,377.00. Following the transaction, the senior vice president now owns 18,535 shares of the company’s stock, valued at $4,351,091.25. The disclosure for this sale can be found here. Insiders sold a total of 63,322 shares of company stock worth $12,782,429 in the last three months. 37.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CAR shares. StockNews.com started coverage on Avis Budget Group in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Morgan Stanley upped their target price on Avis Budget Group from $150.00 to $160.00 and gave the company an “underweight” rating in a research report on Thursday, November 3rd. Deutsche Bank Aktiengesellschaft upped their target price on Avis Budget Group from $218.00 to $233.00 in a research report on Wednesday, November 2nd. JPMorgan Chase & Co. raised Avis Budget Group from a “neutral” rating to an “overweight” rating and upped their target price for the company from $230.00 to $231.00 in a research report on Monday, October 24th. Finally, Susquehanna started coverage on Avis Budget Group in a research report on Tuesday, December 6th. They issued a “neutral” rating and a $225.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $217.75.

Avis Budget Group Company Profile

(Get Rating)

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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