Public Employees Retirement System of Ohio Has $547,000 Stock Holdings in Avis Budget Group, Inc. (NASDAQ:CAR)

Public Employees Retirement System of Ohio trimmed its position in Avis Budget Group, Inc. (NASDAQ:CAR) by 4.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,244 shares of the business services provider’s stock after selling 311 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Avis Budget Group were worth $547,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of CAR. Strategic Investment Solutions Inc. IL grew its holdings in Avis Budget Group by 198.3% in the 3rd 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 during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of 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 during the last quarter. Signaturefd LLC increased its position in Avis Budget Group by 180.0% during the second quarter. Signaturefd LLC now owns 714 shares of the business services provider’s stock worth $75,000 after acquiring an additional 459 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Avis Budget Group during the second quarter worth $75,000. Finally, Headlands Technologies LLC acquired a new position in Avis Budget Group during the 2nd quarter valued at $116,000. 96.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CAR. Northcoast Research lowered shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a research report on Monday, November 18th. Barclays started coverage on Avis Budget Group in a research note on Thursday, September 19th. They set an “equal weight” rating and a $105.00 price target on the stock. StockNews.com upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. lowered their price objective on 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. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on 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. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $133.75.

Avis Budget Group Stock Performance

Shares of NASDAQ CAR opened at $80.98 on Friday. Avis Budget Group, Inc. has a 52-week low of $65.73 and a 52-week high of $188.36. The business has a fifty day moving average of $93.65 and a two-hundred day moving average of $93.57. The stock has a market cap of $2.85 billion, a PE ratio of 7.40 and a beta of 2.20.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings results on Thursday, October 31st. The business services provider reported $6.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.55 by ($1.90). The firm had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.53 billion. Avis Budget Group had a net margin of 3.34% and a negative return on equity of 101.41%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $16.78 earnings per share. Analysts predict that Avis Budget Group, Inc. will post 3.59 earnings per share for the current 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.