Jefferies Financial Group Inc. Takes $2.18 Million Position in Avis Budget Group, Inc. $CAR

Jefferies Financial Group Inc. bought a new stake in Avis Budget Group, Inc. (NASDAQ:CAR) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 17,000 shares of the business services provider’s stock, valued at approximately $2,181,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hantz Financial Services Inc. raised its holdings in shares of Avis Budget Group by 136.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 253 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 146 shares during the period. American Wealth Advisors LLC bought a new stake in shares of Avis Budget Group in the 3rd quarter valued at about $41,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Avis Budget Group by 26.5% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 363 shares of the business services provider’s stock valued at $58,000 after purchasing an additional 76 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Avis Budget Group by 19.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 427 shares of the business services provider’s stock valued at $72,000 after purchasing an additional 70 shares during the period. Finally, Activest Wealth Management raised its holdings in shares of Avis Budget Group by 100,000.0% in the 3rd quarter. Activest Wealth Management now owns 1,001 shares of the business services provider’s stock valued at $161,000 after purchasing an additional 1,000 shares during the period. 96.35% of the stock is owned by institutional investors.

Insider Buying and Selling at Avis Budget Group

In other news, EVP Edward P. Linnen sold 9,483 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $182.32, for a total transaction of $1,728,940.56. Following the transaction, the executive vice president directly owned 37,932 shares of the company’s stock, valued at approximately $6,915,762.24. This trade represents a 20.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ravi Simhambhatla sold 3,469 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $184.09, for a total transaction of $638,608.21. Following the transaction, the executive vice president directly owned 13,876 shares in the company, valued at $2,554,432.84. This represents a 20.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,299 shares of company stock valued at $3,836,012 in the last three months. 50.48% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CAR shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $125.00 target price on shares of Avis Budget Group in a report on Friday, May 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Avis Budget Group in a report on Wednesday, May 20th. The Goldman Sachs Group set a $85.00 price target on shares of Avis Budget Group in a report on Monday, February 23rd. Jefferies Financial Group cut shares of Avis Budget Group from a “buy” rating to a “hold” rating and increased their price target for the company from $112.00 to $160.00 in a report on Friday, May 1st. Finally, Susquehanna increased their price target on shares of Avis Budget Group from $105.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Five analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $125.25.

Avis Budget Group Stock Down 0.3%

Avis Budget Group stock opened at $166.52 on Wednesday. The stock has a market cap of $5.88 billion, a P/E ratio of -8.74 and a beta of 1.91. Avis Budget Group, Inc. has a twelve month low of $85.96 and a twelve month high of $847.70. The company’s 50-day moving average price is $216.61 and its two-hundred day moving average price is $155.41.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings results on Wednesday, April 29th. The business services provider reported ($8.01) earnings per share for the quarter, missing the consensus estimate of ($6.82) by ($1.19). The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.43 billion. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($14.35) earnings per share. Equities analysts anticipate that Avis Budget Group, Inc. will post 2.93 earnings per share for the current fiscal year.

Avis Budget Group Company Profile

Avis Budget Group, Inc operates as a leading global provider of vehicle rental and mobility solutions. Through its two core brands, Avis® and Budget®, the company offers a broad range of rental options including daily, weekly and monthly car rentals for leisure and business travelers. In addition to traditional airport and off-airport car rental services, Avis Budget Group delivers innovative mobility platforms such as car-sharing programs and connected fleet solutions designed to meet the evolving needs of corporate, government and individual customers.

The company’s roots trace back to Avis Rent a Car, founded in 1946, and Budget Rent a Car, established in 1958.