Ameritas Investment Partners Inc. Acquires 6,576 Shares of Avis Budget Group, Inc. (CAR)

Ameritas Investment Partners Inc. grew its holdings in Avis Budget Group, Inc. (NASDAQ:CAR) by 25.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,925 shares of the business services provider’s stock after buying an additional 6,576 shares during the period. Ameritas Investment Partners Inc.’s holdings in Avis Budget Group were worth $871,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. BlackRock Inc. grew its stake in shares of Avis Budget Group by 18.0% in the 2nd quarter. BlackRock Inc. now owns 8,895,289 shares of the business services provider’s stock worth $242,574,000 after buying an additional 1,355,238 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Avis Budget Group by 16.5% in the 1st quarter. Vanguard Group Inc. now owns 7,340,105 shares of the business services provider’s stock worth $217,121,000 after buying an additional 1,037,148 shares in the last quarter. Diamond Hill Capital Management Inc. grew its stake in shares of Avis Budget Group by 7.0% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 6,131,332 shares of the business services provider’s stock worth $167,201,000 after buying an additional 401,401 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Avis Budget Group by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,450,238 shares of the business services provider’s stock worth $121,357,000 after buying an additional 211,618 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its stake in shares of Avis Budget Group by 18.6% in the 2nd quarter. Neuberger Berman Group LLC now owns 3,482,454 shares of the business services provider’s stock worth $94,967,000 after buying an additional 547,233 shares in the last quarter.

In related news, Director John D. Jr. Hardy sold 908 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $32.78, for a total value of $29,764.24. Following the completion of the sale, the director now owns 908 shares of the company’s stock, valued at $29,764.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stender E. Sweeney sold 1,500 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $35.02, for a total transaction of $52,530.00. Following the completion of the sale, the director now directly owns 1,359 shares of the company’s stock, valued at approximately $47,592.18. The disclosure for this sale can be found here. Insiders sold 435,708 shares of company stock valued at $17,133,212 in the last three months. 2.80% of the stock is currently owned by insiders.

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Avis Budget Group, Inc. (NASDAQ CAR) opened at 41.20 on Friday. Avis Budget Group, Inc. has a 1-year low of $20.71 and a 1-year high of $41.73. The company’s 50 day moving average is $38.45 and its 200-day moving average is $30.84. The stock has a market capitalization of $3.41 billion, a PE ratio of 48.53 and a beta of 2.48.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings data on Monday, August 7th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.32). Avis Budget Group had a net margin of 0.86% and a return on equity of 74.80%. The firm had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the prior year, the company posted $0.63 EPS. The company’s revenue for the quarter was down .2% compared to the same quarter last year. Analysts forecast that Avis Budget Group, Inc. will post $2.61 earnings per share for the current fiscal year.

A number of equities analysts have commented on the stock. BidaskClub raised shares of Avis Budget Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 14th. Zacks Investment Research raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. ValuEngine cut shares of Avis Budget Group from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. J P Morgan Chase & Co assumed coverage on shares of Avis Budget Group in a research note on Friday, August 4th. They issued an “overweight” rating and a $39.00 price objective for the company. Finally, B. Riley assumed coverage on shares of Avis Budget Group in a research note on Friday, September 22nd. They issued a “buy” rating and a $36.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Avis Budget Group has a consensus rating of “Buy” and an average price target of $38.20.

About Avis Budget Group

Avis Budget Group Inc is a provider of vehicle rental and car sharing services. The Company operates three brands, which include Avis, Budget and Zipcar. Avis and Budget are a rental car supplier. It also owns Payless, which a car rental brand; Apex, which is a car rental brand in New Zealand and Australia; Maggiore, a vehicle rental brand in Italy, and France Cars, which operates light commercial vehicle fleets in France.

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Institutional Ownership by Quarter for Avis Budget Group (NASDAQ:CAR)

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