Xponance Inc. Has $280,000 Stock Position in Avis Budget Group, Inc. (NASDAQ:CAR)

Xponance Inc. trimmed its position in Avis Budget Group, Inc. (NASDAQ:CAR) by 6.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,681 shares of the business services provider’s stock after selling 182 shares during the quarter. Xponance Inc.’s holdings in Avis Budget Group were worth $280,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Central Valley Advisors LLC acquired a new position in shares of Avis Budget Group during the 2nd quarter worth about $25,000. Denali Advisors LLC grew its position in shares of Avis Budget Group by 94.1% during the 1st quarter. Denali Advisors LLC now owns 231 shares of the business services provider’s stock worth $28,000 after buying an additional 112 shares during the period. EntryPoint Capital LLC grew its position in shares of Avis Budget Group by 119.2% during the 1st quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider’s stock worth $28,000 after buying an additional 124 shares during the period. TFO Wealth Partners LLC grew its position in shares of Avis Budget Group by 15,550.0% during the 4th quarter. TFO Wealth Partners LLC now owns 313 shares of the business services provider’s stock worth $55,000 after buying an additional 311 shares during the period. Finally, Signaturefd LLC lifted its holdings in shares of Avis Budget Group by 180.0% during the 2nd quarter. Signaturefd LLC now owns 714 shares of the business services provider’s stock valued at $75,000 after purchasing an additional 459 shares in the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CAR. JPMorgan Chase & Co. cut their price objective on Avis Budget Group from $205.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. StockNews.com cut Avis Budget Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft cut 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. Barclays began coverage on Avis Budget Group in a report on Thursday, September 19th. They set an “equal weight” rating and a $105.00 price objective on the stock. Finally, Susquehanna cut their price objective on Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $138.50.

Avis Budget Group Stock Performance

NASDAQ CAR opened at $85.85 on Wednesday. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of 2.71 and a beta of 2.14. The stock’s 50 day moving average price is $85.47 and its two-hundred day moving average price is $102.28. Avis Budget Group, Inc. has a 52 week low of $65.73 and a 52 week high of $204.77.

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

About Avis Budget Group

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.