Avis Budget Group, Inc. (NASDAQ:CAR) Shares Bought by nVerses Capital LLC

nVerses Capital LLC lifted its holdings in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 2,800.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,900 shares of the business services provider’s stock after buying an additional 2,800 shares during the quarter. nVerses Capital LLC’s holdings in Avis Budget Group were worth $254,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CAR. EntryPoint Capital LLC increased its holdings in Avis Budget Group by 119.2% in the 1st quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider’s stock worth $28,000 after acquiring an additional 124 shares in the last quarter. Denali Advisors LLC grew its position in shares of Avis Budget Group by 94.1% in the first quarter. Denali Advisors LLC now owns 231 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 112 shares during the period. Central Valley Advisors LLC purchased a new stake in shares of Avis Budget Group during the second quarter worth about $25,000. Signaturefd LLC raised its position 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 worth $75,000 after purchasing an additional 459 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Avis Budget Group in the 2nd quarter valued at about $75,000. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Avis Budget Group Price Performance

NASDAQ:CAR opened at $81.05 on Friday. The company’s 50-day moving average is $82.62 and its two-hundred day moving average is $99.27. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 2.56 and a beta of 2.13. 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 issued its quarterly earnings data 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). Avis Budget Group had a negative return on equity of 230.71% and a net margin of 6.58%. The business had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the previous year, the company posted $11.01 earnings per share. The company’s revenue was down 2.4% on a year-over-year basis. As a group, equities analysts anticipate that Avis Budget Group, Inc. will post 7.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CAR has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on Avis Budget Group from $155.00 to $146.00 and set a “buy” rating for the company in a report on Friday, August 30th. JPMorgan Chase & Co. lowered their target price on shares of Avis Budget Group from $205.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Susquehanna dropped their target price on shares of Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating for the company in a report on Friday, August 9th. StockNews.com downgraded shares of Avis Budget Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. Finally, Barclays started coverage on shares of Avis Budget Group in a research note on Thursday, September 19th. They set an “equal weight” rating and a $105.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $136.63.

Avis Budget Group 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.