Nomura Holdings Inc. Acquires 236,576 Shares of Avis Budget Group, Inc. (NASDAQ:CAR)

Nomura Holdings Inc. boosted its position in Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 93.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 490,473 shares of the business services provider's stock after acquiring an additional 236,576 shares during the period. Nomura Holdings Inc. owned 1.40% of Avis Budget Group worth $39,537,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Aster Capital Management DIFC Ltd purchased a new position in Avis Budget Group in the 4th quarter worth approximately $25,000. GAMMA Investing LLC raised its holdings in shares of Avis Budget Group by 118.8% during the fourth quarter. GAMMA Investing LLC now owns 337 shares of the business services provider's stock valued at $27,000 after acquiring an additional 183 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in Avis Budget Group by 41.0% in the fourth quarter. Quadrant Capital Group LLC now owns 681 shares of the business services provider's stock worth $55,000 after acquiring an additional 198 shares during the period. Sterling Capital Management LLC lifted its stake in Avis Budget Group by 41.3% in the fourth quarter. Sterling Capital Management LLC now owns 736 shares of the business services provider's stock worth $59,000 after acquiring an additional 215 shares during the period. Finally, Signaturefd LLC boosted its holdings in Avis Budget Group by 31.8% in the fourth quarter. Signaturefd LLC now owns 936 shares of the business services provider's stock valued at $75,000 after acquiring an additional 226 shares in the last quarter. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CAR has been the topic of a number of research reports. StockNews.com raised shares of Avis Budget Group from a "sell" rating to a "hold" rating in a research note on Saturday, May 3rd. JPMorgan Chase & Co. raised their price objective on shares of Avis Budget Group from $145.00 to $155.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Finally, The Goldman Sachs Group reduced their target price on Avis Budget Group from $100.00 to $87.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $117.00.

Insiders Place Their Bets

In other news, Director Lynn Krominga sold 1,405 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $95.00, for a total value of $133,475.00. Following the transaction, the director now owns 1,950 shares in the company, valued at approximately $185,250. This represents a 41.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 52.80% of the company's stock.

Avis Budget Group Price Performance

NASDAQ:CAR traded up $3.54 during mid-day trading on Monday, hitting $112.38. 388,554 shares of the company's stock were exchanged, compared to its average volume of 871,912. The company has a market cap of $3.95 billion, a PE ratio of -2.17 and a beta of 2.10. Avis Budget Group, Inc. has a one year low of $54.03 and a one year high of $119.50. The business has a fifty day moving average price of $79.57 and a 200 day moving average price of $86.48.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last released its earnings results on Wednesday, May 7th. The business services provider reported ($14.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($5.72) by ($8.63). The business had revenue of $2.43 billion for the quarter, compared to analysts' expectations of $2.49 billion. Avis Budget Group had a negative net margin of 15.45% and a negative return on equity of 14.74%. Avis Budget Group's revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($3.21) earnings per share. On average, equities analysts forecast that Avis Budget Group, Inc. will post 8.91 EPS for the current fiscal year.

Avis Budget Group Profile

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.