Avis Budget Group, Inc. (NASDAQ:CAR) Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP raised its holdings in Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 361.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,399 shares of the business services provider's stock after acquiring an additional 18,326 shares during the period. Quantinno Capital Management LP owned approximately 0.07% of Avis Budget Group worth $1,886,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CAR. Barclays PLC lifted its position in Avis Budget Group by 30.5% during the third quarter. Barclays PLC now owns 200,576 shares of the business services provider's stock worth $17,571,000 after buying an additional 46,922 shares in the last quarter. Diversify Advisory Services LLC acquired a new stake in shares of Avis Budget Group in the 4th quarter worth $254,000. SG Americas Securities LLC increased its stake in shares of Avis Budget Group by 234.5% in the 4th quarter. SG Americas Securities LLC now owns 32,325 shares of the business services provider's stock worth $2,606,000 after acquiring an additional 22,660 shares during the last quarter. Inspire Investing LLC boosted its position in shares of Avis Budget Group by 6.4% during the 4th quarter. Inspire Investing LLC now owns 4,984 shares of the business services provider's stock valued at $402,000 after acquiring an additional 301 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of Avis Budget Group by 4,896.4% in the fourth quarter. KBC Group NV now owns 30,928 shares of the business services provider's stock valued at $2,493,000 after purchasing an additional 30,309 shares during the period. Institutional investors and hedge funds own 96.35% of the company's stock.

Avis Budget Group Stock Down 2.7%

Shares of NASDAQ CAR opened at $108.97 on Thursday. The business's 50 day moving average is $82.64 and its two-hundred day moving average is $86.96. Avis Budget Group, Inc. has a 52-week low of $54.03 and a 52-week high of $115.65. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of -2.10 and a beta of 2.10.

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 net margin of 15.45% and a negative return on equity of 14.74%. The company'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) earnings per share. Analysts anticipate that Avis Budget Group, Inc. will post 8.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Avis Budget Group from $145.00 to $155.00 and gave the company an "overweight" rating in a report on Friday, May 9th. The Goldman Sachs Group decreased their price objective 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. Finally, StockNews.com raised Avis Budget Group from a "sell" rating to a "hold" rating in a research note on Saturday, May 3rd. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Avis Budget Group currently has a consensus rating of "Hold" and a consensus target price of $117.00.

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.

Want to see what other hedge funds are holding CAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avis Budget Group, Inc. (NASDAQ:CAR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.