International Assets Investment Management LLC lessened its stake in Avis Budget Group, Inc. (NASDAQ:CAR – Free Report) by 98.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,572 shares of the business services provider’s stock after selling 475,472 shares during the quarter. International Assets Investment Management LLC’s holdings in Avis Budget Group were worth $448,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of Avis Budget Group by 118.8% during the 4th quarter. GAMMA Investing LLC now owns 337 shares of the business services provider’s stock valued at $27,000 after buying an additional 183 shares during the last quarter. Strategic Investment Solutions Inc. IL lifted its stake in 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 acquiring an additional 240 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Avis Budget Group by 293.3% in the third quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider’s stock worth $36,000 after acquiring an additional 305 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Avis Budget Group during the 2nd quarter worth $75,000. Finally, Carolina Wealth Advisors LLC raised its holdings in shares of Avis Budget Group by 184.5% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 1,118 shares of the business services provider’s stock valued at $98,000 after purchasing an additional 725 shares in the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on CAR. Northcoast Research cut shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a report on Monday, November 18th. JPMorgan Chase & Co. decreased their price target on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft lowered their price objective on Avis Budget Group from $145.00 to $143.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Barclays initiated coverage on Avis Budget Group in a report on Thursday, September 19th. They issued an “equal weight” rating and a $105.00 target price for the company. Finally, The Goldman Sachs Group increased their price target on Avis Budget Group from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $133.75.
Avis Budget Group Price Performance
NASDAQ CAR opened at $84.56 on Friday. The company’s fifty day moving average is $93.65 and its two-hundred day moving average is $90.76. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 7.72 and a beta of 2.25. Avis Budget Group, Inc. has a 52-week low of $65.73 and a 52-week high of $176.79.
Avis Budget Group (NASDAQ:CAR – Get Free Report) last released its earnings results 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). The firm 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%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the business earned $16.78 earnings per share. As a group, sell-side analysts expect that Avis Budget Group, Inc. will post 3.59 earnings per share for the current fiscal year.
About Avis Budget Group
Avis Budget Group, Inc engages in the provision of vehicle sharing and rental services. It operates through the following segments: Americas, International, and Corporate and Other. The Americas segment includes the vehicle rental and car sharing operations in North America, South America, Central America, and the Caribbean.
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