Avis Budget Group, Inc. (CAR) Shares Sold by Cipher Capital LP

Cipher Capital LP cut its stake in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 35.1% during the fourth quarter, Holdings Channel reports. The firm owned 75,392 shares of the company’s stock after selling 40,815 shares during the period. Cipher Capital LP’s holdings in Avis Budget Group were worth $2,765,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Partnervest Advisory Services LLC raised its position in Avis Budget Group by 2.2% in the second quarter. Partnervest Advisory Services LLC now owns 8,119 shares of the company’s stock valued at $262,000 after buying an additional 174 shares during the last quarter. Calvert Investment Management Inc. raised its position in Avis Budget Group by 2.7% in the second quarter. Calvert Investment Management Inc. now owns 7,749 shares of the company’s stock valued at $250,000 after buying an additional 201 shares during the last quarter. BlackRock Advisors LLC raised its position in Avis Budget Group by 0.9% in the third quarter. BlackRock Advisors LLC now owns 48,521 shares of the company’s stock valued at $1,660,000 after buying an additional 420 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Avis Budget Group by 7.0% in the third quarter. Pacer Advisors Inc. now owns 8,510 shares of the company’s stock valued at $291,000 after buying an additional 560 shares during the period. Finally, California State Teachers Retirement System increased its stake in shares of Avis Budget Group by 0.8% in the third quarter. California State Teachers Retirement System now owns 178,300 shares of the company’s stock valued at $6,100,000 after buying an additional 1,400 shares during the period.

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

Avis Budget Group, Inc. (NASDAQ:CAR) traded up 0.99% on Tuesday, reaching $37.93. The company had a trading volume of 275,457 shares. The stock has a 50 day moving average of $37.11 and a 200 day moving average of $36.53. The firm has a market capitalization of $3.33 billion, a PE ratio of 19.38 and a beta of 2.03. Avis Budget Group, Inc. has a 12 month low of $21.73 and a 12 month high of $41.53.

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Several equities research analysts have weighed in on CAR shares. MKM Partners set a $47.00 price target on Avis Budget Group and gave the stock a “buy” rating in a report on Thursday, December 15th. TheStreet upgraded Avis Budget Group from a “hold” rating to a “buy” rating in a report on Monday, November 28th. Credit Suisse Group restated a “buy” rating and set a $44.00 price target on shares of Avis Budget Group in a report on Wednesday, November 16th. Zacks Investment Research downgraded Avis Budget Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 18th. Finally, Goldman Sachs Group, Inc. (The) started coverage on Avis Budget Group in a report on Monday, October 24th. They set a “neutral” rating and a $30.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. Avis Budget Group currently has an average rating of “Hold” and an average price target of $36.71.

In related news, insider Ronald L. Nelson sold 150,000 shares of the stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $39.00, for a total value of $5,850,000.00. Following the completion of the sale, the insider now owns 737,974 shares in the company, valued at $28,780,986. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Stender E. Sweeney sold 803 shares of the stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $38.34, for a total transaction of $30,787.02. Following the completion of the sale, the director now owns 603 shares of the company’s stock, valued at approximately $23,119.02. The disclosure for this sale can be found here. Insiders have sold 153,242 shares of company stock valued at $5,976,030 over the last 90 days. Corporate insiders own 2.80% of the company’s stock.

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 is a rental car supplier and Budget is a rental vehicle supplier. It also owns Payless, which a car rental brand, and Apex, which is a car rental brand in New Zealand and Australia.

5 Day Chart for NASDAQ:CAR

Want to see what other hedge funds are holding CAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avis Budget Group, Inc. (NASDAQ:CAR).

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