Avis Budget Group, Inc. (NASDAQ:CAR) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its position in Avis Budget Group, Inc. (NASDAQ:CAR) by 8.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 11,102 shares of the business services provider’s stock after selling 976 shares during the quarter. Victory Capital Management Inc.’s holdings in Avis Budget Group were worth $895,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC lifted its stake in shares of Avis Budget Group by 30.5% during the third quarter. Barclays PLC now owns 200,576 shares of the business services provider’s stock worth $17,571,000 after buying an additional 46,922 shares during the period. State Street Corp lifted its stake in shares of Avis Budget Group by 2.5% during the third quarter. State Street Corp now owns 672,227 shares of the business services provider’s stock worth $58,880,000 after buying an additional 16,221 shares during the period. Algert Global LLC lifted its stake in shares of Avis Budget Group by 123.8% during the third quarter. Algert Global LLC now owns 22,745 shares of the business services provider’s stock worth $1,992,000 after buying an additional 12,580 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Avis Budget Group by 10.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 185,801 shares of the business services provider’s stock worth $16,274,000 after buying an additional 17,666 shares during the period. Finally, National Bank of Canada FI lifted its stake in shares of Avis Budget Group by 1,858.7% during the third quarter. National Bank of Canada FI now owns 90,000 shares of the business services provider’s stock worth $7,883,000 after buying an additional 85,405 shares during the period. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Avis Budget Group

In other Avis Budget Group news, Director Lynn Krominga sold 1,405 shares of Avis Budget Group stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $95.00, for a total value of $133,475.00. Following the completion of the transaction, the director now owns 1,950 shares of the company’s stock, valued at approximately $185,250. The trade was a 41.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 52.00% of the stock is owned by corporate insiders.

Avis Budget Group Price Performance

Shares of Avis Budget Group stock opened at $57.92 on Friday. The firm has a fifty day moving average price of $82.30 and a 200 day moving average price of $86.05. Avis Budget Group, Inc. has a 1 year low of $54.03 and a 1 year high of $132.25. The stock has a market cap of $2.03 billion, a PE ratio of -1.12 and a beta of 2.37.

Avis Budget Group (NASDAQ:CAR) last issued its earnings results on Tuesday, February 11th. The business services provider reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.27. Avis Budget Group had a negative net margin of 15.45% and a negative return on equity of 14.74%. As a group, equities analysts expect that Avis Budget Group, Inc. will post 8.91 EPS for the current year.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group lifted their price objective on shares of Avis Budget Group from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $133.75.

Avis Budget Group Profile

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.