Retirement Systems of Alabama raised its position in Avis Budget Group, Inc. (NASDAQ:CAR – Free Report) by 50.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,851 shares of the business services provider’s stock after purchasing an additional 11,654 shares during the quarter. Retirement Systems of Alabama owned approximately 0.10% of Avis Budget Group worth $3,643,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of CAR. Massachusetts Financial Services Co. MA raised its stake in shares of Avis Budget Group by 47.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 327,275 shares of the business services provider’s stock valued at $58,013,000 after acquiring an additional 105,867 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Avis Budget Group in the second quarter valued at approximately $19,978,000. Russell Investments Group Ltd. lifted its stake in shares of Avis Budget Group by 70,663.6% in the first quarter. Russell Investments Group Ltd. now owns 7,784 shares of the business services provider’s stock worth $954,000 after buying an additional 7,773 shares during the last quarter. Capstone Investment Advisors LLC bought a new stake in shares of Avis Budget Group during the 1st quarter worth $1,069,000. Finally, Gabelli Funds LLC bought a new stake in shares of Avis Budget Group during the 1st quarter worth $1,898,000. 96.35% of the stock is owned by institutional investors and hedge funds.
Avis Budget Group Trading Down 3.1 %
Shares of NASDAQ CAR opened at $86.24 on Wednesday. Avis Budget Group, Inc. has a 1 year low of $79.03 and a 1 year high of $226.14. The firm’s 50-day moving average is $98.47 and its 200-day moving average is $107.88. The firm has a market capitalization of $3.07 billion, a PE ratio of 2.72 and a beta of 2.21.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on CAR shares. Bank of America cut their target price on shares of Avis Budget Group from $170.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Susquehanna dropped their price objective on Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. StockNews.com downgraded Avis Budget Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. lowered their price objective on shares of Avis Budget Group from $205.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group reduced their target price on shares of Avis Budget Group from $120.00 to $105.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Avis Budget Group has a consensus rating of “Moderate Buy” and a consensus target price of $148.57.
Get Our Latest Stock Analysis on CAR
Avis Budget Group Company Profile
Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers in the Americas, Europe, the Middle East and Africa, Asia, and Australasia. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; and the Zipcar brand, a car sharing network, as well as the Budget brand, a supplier of vehicle rental and other mobility solutions focused primarily on more value-conscious customers comprising Budget car rental, and Budget Truck, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of dealer-operated and company-operated locations that serve the light commercial and consumer sectors in the continental United States.
Further Reading
- Five stocks we like better than Avis Budget Group
- With Risk Tolerance, One Size Does Not Fit All
- Study: How Much Are Retirees Earning from Side Hustles in 2024?
- What is the Euro STOXX 50 Index?
- Brinker International Offers a Pullback Opportunity on EPS Miss
- Top Biotech Stocks: Exploring Innovation Opportunities
- Globant Is an Emerging AI Play That’s Expanding Its Footprint
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 – Free Report).
Receive News & Ratings for Avis Budget Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avis Budget Group and related companies with MarketBeat.com's FREE daily email newsletter.