28,452 Shares in Avis Budget Group, Inc. $CAR Purchased by Eisler Capital Management Ltd.

Eisler Capital Management Ltd. acquired a new position in Avis Budget Group, Inc. (NASDAQ:CAR) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 28,452 shares of the business services provider’s stock, valued at approximately $2,157,000.

Other large investors also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. purchased a new stake in Avis Budget Group during the 1st quarter worth about $274,000. Captrust Financial Advisors purchased a new stake in Avis Budget Group during the 4th quarter worth about $460,000. Northern Trust Corp lifted its holdings in Avis Budget Group by 21.0% during the 4th quarter. Northern Trust Corp now owns 156,176 shares of the business services provider’s stock worth $12,589,000 after purchasing an additional 27,127 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Avis Budget Group by 9.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,840 shares of the business services provider’s stock worth $443,000 after purchasing an additional 519 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Avis Budget Group by 166.0% during the 1st quarter. Victory Capital Management Inc. now owns 29,527 shares of the business services provider’s stock worth $2,241,000 after purchasing an additional 18,425 shares in the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Avis Budget Group Stock Up 2.4%

NASDAQ CAR opened at $156.95 on Thursday. The stock’s 50-day simple moving average is $172.31 and its two-hundred day simple moving average is $118.57. Avis Budget Group, Inc. has a twelve month low of $54.03 and a twelve month high of $212.81. The company has a market capitalization of $5.52 billion, a price-to-earnings ratio of -2.48 and a beta of 2.19.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings results on Tuesday, July 29th. The business services provider reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $2.02 by ($1.92). The firm had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.02 billion. Avis Budget Group had a negative net margin of 19.06% and a negative return on equity of 14.74%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.41 EPS. On average, equities analysts expect that Avis Budget Group, Inc. will post 8.91 earnings per share for the current fiscal year.

Insider Transactions at Avis Budget Group

In related news, Director Bernardo Hees sold 402,200 shares of the business’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $156.59, for a total transaction of $62,980,498.00. Following the transaction, the director owned 116,521 shares in the company, valued at $18,246,023.39. The trade was a 77.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Edward P. Linnen sold 10,000 shares of the business’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $156.83, for a total value of $1,568,300.00. Following the transaction, the executive vice president owned 40,915 shares in the company, valued at approximately $6,416,699.45. This represents a 19.64% decrease in their position. The disclosure for this sale can be found here. 52.80% of the stock is owned by insiders.

Analyst Ratings Changes

CAR has been the topic of a number of recent research reports. The Goldman Sachs Group reissued a “sell” rating and set a $105.00 price objective (up previously from $87.00) on shares of Avis Budget Group in a report on Friday, August 1st. Bank of America reissued an “underperform” rating and set a $113.00 price objective (down previously from $120.00) on shares of Avis Budget Group in a report on Wednesday, August 20th. Zacks Research upgraded Avis Budget Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 21st. Wall Street Zen upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 3rd. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $155.00 target price on shares of Avis Budget Group in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Avis Budget Group has an average rating of “Reduce” and an average price target of $143.80.

About Avis Budget Group

Avis Budget Group, Inc engages in the provision of vehicle sharing and rental services. It operates through the following segments: Americas, International, and Corporate and Other. The Americas segment includes the vehicle rental and car sharing operations in North America, South America, Central America, and the Caribbean.