Avis Budget Group, Inc. (NASDAQ:CAR - Get Free Report) major shareholder Pentwater Capital Management L sold 3,347 shares of the company's stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $438.74, for a total value of $1,468,462.78. Following the sale, the insider owned 6,177,100 shares in the company, valued at approximately $2,710,140,854. This represents a 0.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Pentwater Capital Management L also recently made the following trade(s):
- On Wednesday, April 22nd, Pentwater Capital Management L sold 1,643,653 shares of Avis Budget Group stock. The stock was sold at an average price of $619.35, for a total transaction of $1,017,996,485.55.
- On Thursday, April 23rd, Pentwater Capital Management L sold 1,848,899 shares of Avis Budget Group stock. The stock was sold at an average price of $275.54, for a total transaction of $509,445,630.46.
- On Thursday, April 23rd, Pentwater Capital Management L sold 843,201 shares of Avis Budget Group stock. The stock was sold at an average price of $264.60, for a total transaction of $223,110,984.60.
- On Friday, February 20th, Pentwater Capital Management L acquired 425,000 shares of Avis Budget Group stock. The stock was bought at an average price of $94.26 per share, for a total transaction of $40,060,500.00.
Avis Budget Group Trading Down 2.7%
CAR stock opened at $182.01 on Wednesday. The company's 50 day moving average is $194.95 and its 200 day moving average is $154.01. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of -7.17 and a beta of 1.94. Avis Budget Group, Inc. has a 1-year low of $85.96 and a 1-year high of $847.70.
Wall Street Analysts Forecast Growth
CAR has been the subject of several research reports. Deutsche Bank Aktiengesellschaft lowered Avis Budget Group from a "buy" rating to a "hold" rating and set a $128.00 target price for the company. in a research note on Monday, April 6th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Avis Budget Group in a research note on Wednesday, January 21st. Zacks Research lowered Avis Budget Group from a "hold" rating to a "strong sell" rating in a research note on Thursday, February 19th. Barclays lowered Avis Budget Group from an "equal weight" rating to an "underweight" rating and upped their target price for the stock from $95.00 to $150.00 in a research note on Monday, April 20th. Finally, The Goldman Sachs Group set a $85.00 target price on Avis Budget Group in a research note on Monday, February 23rd. Three research analysts have rated the stock with a Hold rating and six have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Strong Sell" and a consensus target price of $124.00.
Read Our Latest Stock Report on CAR
Institutional Trading of Avis Budget Group
Institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd boosted its stake in shares of Avis Budget Group by 1,845.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 214 shares of the business services provider's stock valued at $27,000 after purchasing an additional 203 shares during the period. Quarry LP purchased a new stake in shares of Avis Budget Group during the fourth quarter valued at approximately $27,000. Deseret Mutual Benefit Administrators boosted its stake in shares of Avis Budget Group by 102.3% during the third quarter. Deseret Mutual Benefit Administrators now owns 174 shares of the business services provider's stock valued at $28,000 after purchasing an additional 88 shares during the period. Basepoint Wealth LLC purchased a new stake in shares of Avis Budget Group during the fourth quarter valued at approximately $32,000. Finally, Hantz Financial Services Inc. boosted its stake in shares of Avis Budget Group by 136.4% during the third 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. Hedge funds and other institutional investors own 96.35% of the company's stock.
Avis Budget Group Company Profile
(
Get Free Report)
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.
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