Quantinno Capital Management LP Grows Stock Holdings in Avis Budget Group, Inc. (NASDAQ:CAR)

Quantinno Capital Management LP grew its stake in Avis Budget Group, Inc. (NASDAQ:CAR) by 147.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,073 shares of the business services provider’s stock after purchasing an additional 3,025 shares during the period. Quantinno Capital Management LP’s holdings in Avis Budget Group were worth $444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. SummerHaven Investment Management LLC boosted its stake in Avis Budget Group by 4.5% during the second quarter. SummerHaven Investment Management LLC now owns 3,223 shares of the business services provider’s stock worth $337,000 after buying an additional 138 shares during the last quarter. Strategic Investment Solutions Inc. IL boosted its position in shares of Avis Budget Group by 198.3% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 240 shares during the last quarter. Algert Global LLC grew its holdings in shares of Avis Budget Group by 2.5% in the second quarter. Algert Global LLC now owns 10,165 shares of the business services provider’s stock valued at $1,062,000 after purchasing an additional 245 shares during the period. International Assets Investment Management LLC increased its position in Avis Budget Group by 13.7% during the second quarter. International Assets Investment Management LLC now owns 2,492 shares of the business services provider’s stock worth $260,000 after purchasing an additional 300 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in Avis Budget Group by 293.3% during the third quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider’s stock worth $36,000 after purchasing an additional 305 shares during the period. Institutional investors and hedge funds own 96.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CAR. Deutsche Bank Aktiengesellschaft dropped 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 note on Tuesday, November 5th. The Goldman Sachs Group raised their target price on Avis Budget Group from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. 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. StockNews.com raised Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. decreased their target price on shares of 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. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $133.75.

Avis Budget Group Stock Performance

Shares of CAR opened at $92.19 on Friday. The company’s 50-day simple moving average is $93.78 and its 200-day simple moving average is $94.38. Avis Budget Group, Inc. has a 1 year low of $65.73 and a 1 year high of $202.50. The stock has a market capitalization of $3.24 billion, a PE ratio of 8.42 and a beta of 2.20.

Avis Budget Group (NASDAQ:CAR) last released its earnings results 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). The business had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.53 billion. Avis Budget Group had a negative return on equity of 101.41% and a net margin of 3.34%. Avis Budget Group’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $16.78 earnings per share. On average, sell-side analysts predict that Avis Budget Group, Inc. will post 3.59 earnings per share for the current year.

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.