Mutual of America Capital Management LLC Trims Stake in Avis Budget Group, Inc. (NASDAQ:CAR)

Mutual of America Capital Management LLC lessened its stake in Avis Budget Group, Inc. (NASDAQ:CAR) by 11.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,254 shares of the business services provider’s stock after selling 1,156 shares during the period. Mutual of America Capital Management LLC’s holdings in Avis Budget Group were worth $811,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Central Valley Advisors LLC purchased a new position in shares of Avis Budget Group in the 2nd quarter valued at about $25,000. EntryPoint Capital LLC grew its holdings in Avis Budget Group by 119.2% in the first quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 124 shares during the period. Strategic Investment Solutions Inc. IL increased its position in shares of Avis Budget Group by 198.3% in the third quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider’s stock valued at $32,000 after buying an additional 240 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Avis Budget Group by 293.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider’s stock worth $36,000 after buying an additional 305 shares during the period. Finally, Signaturefd LLC grew its stake in Avis Budget Group by 180.0% in the 2nd quarter. Signaturefd LLC now owns 714 shares of the business services provider’s stock valued at $75,000 after acquiring an additional 459 shares during the period. Institutional investors and hedge funds own 96.35% of the company’s stock.

Avis Budget Group Price Performance

Shares of Avis Budget Group stock opened at $107.37 on Wednesday. The stock’s 50 day simple moving average is $89.17 and its 200-day simple moving average is $95.67. The stock has a market cap of $3.77 billion, a P/E ratio of 9.81 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 released its quarterly earnings data on Thursday, October 31st. The business services provider reported $6.65 earnings per share for the quarter, missing analysts’ consensus estimates of $8.55 by ($1.90). Avis Budget Group had a negative return on equity of 101.41% and a net margin of 3.34%. The company had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.53 billion. During the same period last year, the firm posted $16.78 EPS. The business’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, research analysts expect that Avis Budget Group, Inc. will post 4.59 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CAR shares. Northcoast Research cut shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a research report on Monday, November 18th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Avis Budget Group from $145.00 to $143.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. The Goldman Sachs Group lowered their price objective on Avis Budget Group from $105.00 to $90.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. Barclays began coverage on Avis Budget Group in a report on Thursday, September 19th. They set an “equal weight” rating and a $105.00 target price for the company. Finally, JPMorgan Chase & Co. lowered their price target on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.