Bayesian Capital Management LP Buys 3,256 Shares of Avis Budget Group, Inc. (NASDAQ:CAR)

Bayesian Capital Management LP increased its position in shares of Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 106.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,322 shares of the business services provider's stock after buying an additional 3,256 shares during the quarter. Bayesian Capital Management LP's holdings in Avis Budget Group were worth $510,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new stake in Avis Budget Group in the fourth quarter valued at $25,000. GAMMA Investing LLC lifted its holdings in 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 purchasing an additional 183 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of Avis Budget Group by 41.0% during the fourth quarter. Quadrant Capital Group LLC now owns 681 shares of the business services provider's stock valued at $55,000 after buying an additional 198 shares during the last quarter. Sterling Capital Management LLC grew its holdings in shares of 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 valued at $59,000 after purchasing an additional 215 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in Avis Budget Group by 31.8% during the 4th quarter. Signaturefd LLC now owns 936 shares of the business services provider's stock valued at $75,000 after buying an additional 226 shares during the period. Institutional investors own 96.35% of the company's stock.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Avis Budget Group news, Director Lynn Krominga sold 661 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $95.00, for a total transaction of $62,795.00. Following the sale, the director now directly owns 3,355 shares of the company's stock, valued at $318,725. The trade was a 16.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 52.80% of the company's stock.

Avis Budget Group Stock Performance

Shares of NASDAQ:CAR traded up $2.85 during trading hours on Friday, hitting $103.94. 1,982,627 shares of the company's stock traded hands, compared to its average volume of 864,148. Avis Budget Group, Inc. has a 52 week low of $54.03 and a 52 week high of $132.25. The company has a market cap of $3.66 billion, a price-to-earnings ratio of -2.01 and a beta of 2.10. The company's fifty day simple moving average is $75.61 and its two-hundred day simple moving average is $85.51.

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

Avis Budget Group Company 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.