XTX Topco Ltd Has $839,000 Holdings in Avis Budget Group, Inc. (NASDAQ:CAR)

Key Points

• XTX Topco Ltd increased its holdings in Avis Budget Group by 341.7% in Q1, now owning 11,048 shares valued at $839,000.
• Avis Budget Group's stock price fell to $160.46 with a market cap of $5.65 billion, but it has seen a twelve-month low of $54.03 and a high of $212.81.
• Recent analysts' ratings vary, with Deutsche Bank maintaining a "buy" rating and a price target of $196.00, while others have issued sell and hold ratings.

XTX Topco Ltd raised its holdings in Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 341.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,048 shares of the business services provider's stock after buying an additional 8,547 shares during the period. XTX Topco Ltd's holdings in Avis Budget Group were worth $839,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CAR. Steadfast Capital Management LP purchased a new position in shares of Avis Budget Group during the fourth quarter worth about $25,747,000. Nomura Holdings Inc. raised its position in shares of Avis Budget Group by 93.2% during the 4th quarter. Nomura Holdings Inc. now owns 490,473 shares of the business services provider's stock worth $39,537,000 after purchasing an additional 236,576 shares during the last quarter. Jefferies Financial Group Inc. raised its position in shares of Avis Budget Group by 1,391.0% during the 4th quarter. Jefferies Financial Group Inc. now owns 253,200 shares of the business services provider's stock worth $20,410,000 after purchasing an additional 236,218 shares during the last quarter. Norges Bank acquired a new position in shares of Avis Budget Group during the 4th quarter worth approximately $11,234,000. Finally, SG Americas Securities LLC raised its holdings in Avis Budget Group by 281.1% in the 1st quarter. SG Americas Securities LLC now owns 123,176 shares of the business services provider's stock valued at $9,349,000 after acquiring an additional 90,851 shares during the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Avis Budget Group Price Performance

Avis Budget Group stock traded down $3.61 during midday trading on Monday, reaching $160.46. The stock had a trading volume of 1,990,631 shares, compared to its average volume of 1,204,987. The firm's fifty day simple moving average is $161.03 and its two-hundred day simple moving average is $111.17. Avis Budget Group, Inc. has a twelve month low of $54.03 and a twelve month high of $212.81. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of -2.54 and a beta of 2.19.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last issued its earnings results on Tuesday, July 29th. The business services provider reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.02 by ($1.92). The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.02 billion. Avis Budget Group had a negative net margin of 19.06% and a negative return on equity of 14.74%. The company's quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the business earned $0.41 EPS. As a group, sell-side analysts predict that Avis Budget Group, Inc. will post 8.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. reissued a "neutral" rating and set a $155.00 price objective on shares of Avis Budget Group in a research note on Thursday. The Goldman Sachs Group reaffirmed a "sell" rating and set a $105.00 price target (up previously from $87.00) on shares of Avis Budget Group in a research report on Friday. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $196.00 price objective (up previously from $130.00) on shares of Avis Budget Group in a research note on Thursday, July 10th. Barclays raised their price target on shares of Avis Budget Group from $105.00 to $150.00 and gave the company an "equal weight" rating in a research note on Monday. Finally, Wall Street Zen upgraded shares of Avis Budget Group from a "sell" rating to a "hold" rating in a research note on Saturday, May 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $140.20.

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.