Avis Budget Group, Inc. (NASDAQ:CAR) Stock Position Raised by Bayforest Capital Ltd

Bayforest Capital Ltd boosted its stake in Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 193.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,028 shares of the business services provider's stock after buying an additional 5,949 shares during the period. Bayforest Capital Ltd's holdings in Avis Budget Group were worth $685,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd acquired a new position in shares of Avis Budget Group during the fourth quarter valued at $25,000. UMB Bank n.a. boosted its stake in Avis Budget Group by 106.9% during the first quarter. UMB Bank n.a. now owns 478 shares of the business services provider's stock valued at $36,000 after buying an additional 247 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in 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 in the last quarter. Sterling Capital Management LLC boosted its stake in Avis Budget Group by 41.3% during the fourth quarter. Sterling Capital Management LLC now owns 736 shares of the business services provider's stock valued at $59,000 after buying an additional 215 shares in the last quarter. Finally, Covestor Ltd boosted its stake in Avis Budget Group by 36.1% during the fourth quarter. Covestor Ltd now owns 1,353 shares of the business services provider's stock valued at $109,000 after buying an additional 359 shares in the last quarter. 96.35% of the stock is owned by institutional investors and hedge funds.

Avis Budget Group Price Performance

Avis Budget Group stock traded down $6.17 during mid-day trading on Friday, hitting $164.07. The company's stock had a trading volume of 1,787,688 shares, compared to its average volume of 1,311,003. The firm's 50 day moving average is $159.33 and its 200 day moving average is $109.84. The company has a market cap of $5.77 billion, a PE ratio of -2.59 and a beta of 2.19. Avis Budget Group, Inc. has a 52-week low of $54.03 and a 52-week high of $212.81.

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

Analysts Set New Price Targets

CAR has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $196.00 target price (up previously from $130.00) on shares of Avis Budget Group in a research note on Thursday, July 10th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $155.00 target price 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 target price (up previously from $87.00) on shares of Avis Budget Group in a research note on Friday. Finally, Wall Street Zen upgraded Avis Budget Group from a "sell" rating to a "hold" rating in a research report on Saturday, May 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $131.20.

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.