Advantus Capital Management Inc Has $350,000 Holdings in Avis Budget Group, Inc. (CAR)
Advantus Capital Management Inc cut its stake in Avis Budget Group, Inc. (NASDAQ:CAR) by 13.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,196 shares of the business services provider’s stock after selling 1,438 shares during the period. Advantus Capital Management Inc owned approximately 11,126.44% of Avis Budget Group worth $350,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CAR. Crow Point Partners LLC acquired a new stake in shares of Avis Budget Group in the third quarter worth approximately $107,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Avis Budget Group in the second quarter worth approximately $191,000. Telemus Capital LLC acquired a new stake in shares of Avis Budget Group in the third quarter worth approximately $211,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Avis Budget Group in the second quarter worth approximately $225,000. Finally, Strs Ohio acquired a new stake in shares of Avis Budget Group in the third quarter worth approximately $232,000.
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Shares of Avis Budget Group, Inc. (CAR) opened at $32.81 on Monday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 35.24. The stock has a market cap of $2,724.36, a price-to-earnings ratio of 12.82 and a beta of 2.57. Avis Budget Group, Inc. has a 12 month low of $20.71 and a 12 month high of $42.40.
Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings results on Monday, November 6th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.99 by $0.11. The business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.78 billion. Avis Budget Group had a net margin of 1.26% and a return on equity of 95.28%. The business’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.47 earnings per share. analysts expect that Avis Budget Group, Inc. will post 2.6 EPS for the current year.
The business also recently declared a monthly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were paid a $0.107 dividend. The ex-dividend date was Thursday, September 28th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.91%.
In other Avis Budget Group news, Director Stender E. Sweeney sold 1,500 shares of Avis Budget Group stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $35.02, for a total value of $52,530.00. Following the completion of the transaction, the director now owns 1,359 shares of the company’s stock, valued at $47,592.18. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP David T. Calabria sold 1,300 shares of Avis Budget Group stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $35.86, for a total transaction of $46,618.00. Following the completion of the transaction, the senior vice president now directly owns 5,662 shares of the company’s stock, valued at approximately $203,039.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 459,800 shares of company stock valued at $18,153,448. Insiders own 2.80% of the company’s stock.
Several research firms recently issued reports on CAR. BidaskClub raised shares of Avis Budget Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 14th. Northcoast Research reaffirmed a “buy” rating on shares of Avis Budget Group in a research report on Tuesday, November 7th. National Bank Financial reaffirmed an “outperform market weight” rating on shares of Avis Budget Group in a research report on Friday, August 11th. ValuEngine cut shares of Avis Budget Group from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Finally, J P Morgan Chase & Co assumed coverage on shares of Avis Budget Group in a research report on Friday, August 4th. They set an “overweight” rating and a $39.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $37.70.
Avis Budget Group Company Profile
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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