Avis Price range Group, Inc. (NASDAQ:CAR) down 13.8%


Avis Price range Group, Inc. (NASDAQ:CAR – Get Ranking) was the recipient of a major decline in decrease curiosity throughout the month of August. As of August 15, a complete of three,370,000 shares had quick curiosity, a 13.8% decline from the whole of three,910,000 shares as of July 31. At present, 7.2% of the inventory’s shares are quick bought. Based mostly on the common every day quantity of 917,100 shares, the day-to-cover ratio is at the moment 3.7 days.

Insider shopping for and promoting

In associated information, Chairman Bernardo Hees bought 29,400 shares of the corporate’s inventory in a transaction on Friday, June tenth. The inventory was bought at a mean value of $168.69 per share with a complete worth of $4,959,486.00. Following the completion of the transaction, the chairman now owns 479,876 shares of the corporate’s inventory, valued at roughly $80,950,282.44. The acquisition was disclosed in a authorized submitting with the Securities and Change Fee, which is offered by way of the SEC web site. In associated information, Chairman Bernardo Hees acquired 29,400 shares of Avis Price range Group inventory in a transaction on Friday, June twenty ninth. Shares had been bought at a mean value of $168.69 per share for a complete transaction of $4,959,486.00. Following the completion of the acquisition, the chairman now straight owns 479,876 shares within the firm, valued at roughly $80,950,282.44. The acquisition was disclosed in a submitting with the Securities and Change Fee, which is accessible by way of the SEC web site. Moreover, Director Glenn Lurie bought 1,474 shares of the enterprise’s inventory in a transaction that occurred on Wednesday, August 3. The inventory was bought at a mean value of $178.94 for a complete worth of $263,757.56. The disclosure of this sale could be discovered right here. 37.30% of the inventory is at the moment owned by insiders.

Institutional buyers weigh in on Avis Price range Group

A number of giant buyers have lately revised their holdings of the enterprise. The Canada Pension Plan Funding Board elevated its place in shares of Avis Price range Group by 224.8% throughout the fourth quarter. The Canada Pension Plan Funding Board now holds 1,299,208 shares of the buying and selling providers supplier’s inventory value $269,417,000 after buying a further 899,208 shares final quarter. Nationwide Financial institution of Canada FI elevated its stake in Avis Price range Group by 616,533.8% throughout the second quarter. After buying a further 856,982 shares throughout the earlier quarter, Nationwide Financial institution of Canada FI now holds 857,121 shares for $126,066,000 in buying and selling providers supplier inventory. Financial institution of America Corp DE raised its stake in Avis Price range Group shares by 203.5% within the first quarter. Financial institution of America Corp DE now holds 789,094 shares of the buying and selling providers supplier’s inventory, value $207,769,000, after buying a further 529,066 shares throughout the earlier quarter. Renaissance Applied sciences LLC bought a brand new place in Avis Price range Group shares at a price of roughly $50,677,000 within the fourth quarter. Lastly, HSBC Holdings plc elevated its stake in Avis Price range Group shares to 11,720.4% within the first quarter. After buying a further 196,434 shares throughout the interval, HSBC Holdings plc now owns 198,110 shares of the buying and selling providers supplier’s inventory, valued at $52,044,000. Hedge funds and different institutional buyers personal 98.69% of the corporate’s shares.

Wall Avenue analysts forecast development

A number of brokerage companies have lately commented on the CAR. StockNews.com downgraded Avis Price range Group from a “purchase” score to a “maintain” score in a analysis report on Thursday, July 14. Morgan Stanley raised its goal value on shares of Avis Price range Group from $140.00 to $150.00 and gave the inventory an “underweight” score in a analysis report on Thursday, August 4th. Barclays lowered its value goal on Avis Price range Group from $223.00 to $158.00 in a analysis report on Tuesday, July 5, and set an “equal weight” score on the inventory. Lastly, Deutsche Financial institution Aktiengesellschaft raised its value goal on shares of Avis Price range Group from $184.00 to $229.00 in a analysis notice on Wednesday, August third. Two analysis analysts have rated the inventory with promote score and 4 have given maintain score to the corporate’s inventory. Based mostly on knowledge from Marketbeat.com, Avis Price range Group has a consensus score of “maintain” and a consensus goal value of $193.40.

Avis Price range Group Worth Show

Shares of Avis Price range Group fell by $ 6.94 to $169.52 throughout mid-day buying and selling on Tuesday. The corporate’s 551,962 shares had been traded, whereas its common quantity was 974,599. The agency’s 50-day transferring common value is $166.88 and its 200-day transferring common is $202.78. The agency has a market capitalization of $8.15 billion, a price-to-earnings ratio of three.99 and a beta of two.12. Avis Price range Group has a 52-week low of $85.68 and a 52-week excessive of $545.11.

Avis Price range Group (NASDAQ:CAR – GET RATINGS) final launched its earnings outcomes on Monday, Aug. The enterprise providers supplier reported earnings per share (EPS) of $15.94 for the quarter, upping the consensus estimate of $12.22 from $3.72. The corporate’s income throughout the quarter was $3.24 billion, in opposition to analysts’ estimates of $3.14 billion. Avis Price range Group had a internet margin of 21.02% and a damaging return on fairness of 477.68%. The agency’s quarterly income was up 36.8% in comparison with the identical quarter final yr. Throughout the identical interval final yr, the agency posted EPS of $5.90. On common, sell-side analysts anticipate Avis Price range Group to put up 46.86 EPS for the present yr.

About Avis Price range Group

(get score)

Avis Price range Group, Inc., together with its subsidiaries, offers automobile and truck rental, automobile sharing, and ancillary services and products to companies and customers. It operates the Avis model, which offers automobile rental and different mobility options for the premium industrial and leisure sectors of the journey business; price range truck model, an area, and one-way truck and cargo van rental enterprise with a fleet of roughly 20,000 autos, which is rented by way of a community of roughly 465 dealer-operated and 385 company-operated areas that cater to customers and serve mild industrial areas within the continental United States; and the Zipcar model, a automobile sharing community.

Additional studying

This on the spot information alert was generated by narrative science expertise and monetary knowledge from MarketBeat to supply readers with the quickest and most correct reporting. This story was reviewed by Marketbeat’s editorial staff previous to publication. Please ship any questions or feedback about this story to contact@marketbeat.com.

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