BNP Paribas Financial Markets Has $4.38 Million Stake in Avis Budget Group, Inc. (NASDAQ:CAR)

BNP Paribas Financial Markets cut its holdings in shares of Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 43.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,301 shares of the business services provider's stock after selling 42,482 shares during the quarter. BNP Paribas Financial Markets owned 0.15% of Avis Budget Group worth $4,377,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Algert Global LLC increased its holdings in shares of Avis Budget Group by 3.9% during the fourth quarter. Algert Global LLC now owns 23,623 shares of the business services provider's stock worth $1,904,000 after purchasing an additional 878 shares during the period. Aristeia Capital L.L.C. increased its stake in Avis Budget Group by 28.3% in the fourth quarter. Aristeia Capital L.L.C. now owns 5,833 shares of the business services provider's stock valued at $470,000 after acquiring an additional 1,288 shares during the last quarter. Whitebox Advisors LLC increased its stake in Avis Budget Group by 20.4% in the fourth quarter. Whitebox Advisors LLC now owns 39,733 shares of the business services provider's stock valued at $3,203,000 after acquiring an additional 6,730 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new position in Avis Budget Group in the fourth quarter valued at approximately $207,000. Finally, Northern Trust Corp increased its stake in Avis Budget Group by 21.0% in the fourth quarter. Northern Trust Corp now owns 156,176 shares of the business services provider's stock valued at $12,589,000 after acquiring an additional 27,127 shares during the last quarter. 96.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Avis Budget Group Stock Up 3.0%

Shares of NASDAQ CAR traded up $3.17 during midday trading on Friday, reaching $108.84. 1,013,031 shares of the company were exchanged, compared to its average volume of 873,653. The stock's 50-day moving average price is $79.57 and its 200-day moving average price is $86.46. The stock has a market cap of $3.83 billion, a P/E ratio of -2.10 and a beta of 2.10. Avis Budget Group, Inc. has a one year low of $54.03 and a one year high of $121.99.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last posted its earnings results 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 company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.49 billion. Avis Budget Group had a negative return on equity of 14.74% and a negative net margin of 15.45%. The business's quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($3.21) EPS. On average, equities research analysts anticipate that Avis Budget Group, Inc. will post 8.91 EPS for the current year.

Insiders Place Their Bets

In other news, Director Lynn Krominga sold 1,405 shares of Avis Budget Group stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $95.00, for a total transaction of $133,475.00. Following the transaction, the director now owns 1,950 shares in the company, valued at approximately $185,250. The trade was a 41.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 52.80% of the company's stock.

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.