2,481 Shares in Avis Budget Group, Inc. (NASDAQ:CAR) Bought by Royce & Associates LP

Royce & Associates LP purchased a new position in shares of Avis Budget Group, Inc. (NASDAQ:CAR) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,481 shares of the business services provider’s stock, valued at approximately $217,000.

Several other institutional investors have also modified their holdings of the business. International Assets Investment Management LLC raised its stake in shares of Avis Budget Group by 19,203.5% in the 3rd quarter. International Assets Investment Management LLC now owns 481,044 shares of the business services provider’s stock valued at $421,350,000 after purchasing an additional 478,552 shares during the period. Rubric Capital Management LP raised its position in Avis Budget Group by 220.9% in the 2nd quarter. Rubric Capital Management LP now owns 690,273 shares of the business services provider’s stock valued at $72,147,000 after buying an additional 475,181 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Avis Budget Group in the 2nd quarter valued at approximately $19,978,000. Toronto Dominion Bank bought a new stake in Avis Budget Group in the 2nd quarter valued at approximately $10,452,000. Finally, Massachusetts Financial Services Co. MA boosted its position in Avis Budget Group by 17.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 589,780 shares of the business services provider’s stock worth $61,644,000 after acquiring an additional 88,279 shares during the last quarter. Institutional investors own 96.35% of the company’s stock.

Avis Budget Group Stock Performance

Shares of NASDAQ CAR opened at $99.06 on Thursday. Avis Budget Group, Inc. has a 52 week low of $65.73 and a 52 week high of $204.77. The stock’s fifty day moving average is $86.82 and its 200 day moving average is $96.18. The stock has a market capitalization of $3.48 billion, a P/E ratio of 9.14 and a beta of 2.14.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings data on Thursday, October 31st. The business services provider reported $6.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.55 by ($1.90). Avis Budget Group had a net margin of 3.34% and a negative return on equity of 101.41%. The firm had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same period last year, the business earned $16.78 earnings per share. The business’s revenue was down 2.4% compared to the same quarter last year. Equities research analysts forecast that Avis Budget Group, Inc. will post 5.24 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CAR shares. StockNews.com raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. The Goldman Sachs Group reduced their price objective on shares of Avis Budget Group from $105.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. JPMorgan Chase & Co. lowered their target price on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Susquehanna reduced their price target on Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Finally, Northcoast Research lowered Avis Budget Group from a “buy” rating to a “neutral” rating in a research report on Monday. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $133.13.

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.