Avis Budget Group, Inc. (NASDAQ:CAR) Shares Sold by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC lessened its position in Avis Budget Group, Inc. (NASDAQ:CAR) by 21.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 33,235 shares of the business services provider’s stock after selling 9,171 shares during the quarter. Susquehanna Fundamental Investments LLC’s holdings in Avis Budget Group were worth $3,474,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. purchased a new position in Avis Budget Group in the second quarter valued at $19,978,000. Russell Investments Group Ltd. boosted its stake in shares of Avis Budget Group by 70,663.6% in the 1st quarter. Russell Investments Group Ltd. now owns 7,784 shares of the business services provider’s stock valued at $954,000 after buying an additional 7,773 shares during the period. Capstone Investment Advisors LLC acquired a new position in shares of Avis Budget Group during the first quarter worth about $1,069,000. Gabelli Funds LLC purchased a new stake in shares of Avis Budget Group during the first quarter worth approximately $1,898,000. Finally, Janney Montgomery Scott LLC increased its stake in shares of Avis Budget Group by 77.8% during the first quarter. Janney Montgomery Scott LLC now owns 4,517 shares of the business services provider’s stock worth $553,000 after buying an additional 1,977 shares during the period. Institutional investors and hedge funds own 96.35% of the company’s stock.

Avis Budget Group Price Performance

NASDAQ CAR opened at $87.59 on Monday. The company has a fifty day moving average of $85.84 and a two-hundred day moving average of $102.50. The company has a market capitalization of $3.12 billion, a PE ratio of 2.76 and a beta of 2.14. Avis Budget Group, Inc. has a 1 year low of $65.73 and a 1 year high of $204.77.

Avis Budget Group (NASDAQ:CAR) last announced its earnings results on Monday, August 5th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.60 by ($2.19). The firm had revenue of $3.05 billion during the quarter, compared to analyst estimates of $3.13 billion. Avis Budget Group had a net margin of 6.58% and a negative return on equity of 230.71%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the company earned $11.01 earnings per share. On average, research analysts expect that Avis Budget Group, Inc. will post 7.68 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Susquehanna lowered their price target on shares of Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating for the company in a report on Friday, August 9th. The Goldman Sachs Group lowered their target price on shares of Avis Budget Group from $120.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Barclays started coverage on Avis Budget Group in a research note on Thursday, September 19th. They issued an “equal weight” rating and a $105.00 price target on the stock. JPMorgan Chase & Co. decreased their price target on Avis Budget Group from $205.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Avis Budget Group from $155.00 to $146.00 and set a “buy” rating on the stock in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $138.50.

Avis Budget Group 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.