Captrust Financial Advisors Buys New Position in Avis Budget Group, Inc. (NASDAQ:CAR)

Captrust Financial Advisors bought a new stake in shares of Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,707 shares of the business services provider's stock, valued at approximately $460,000.

Several other hedge funds also recently modified their holdings of CAR. Aster Capital Management DIFC Ltd purchased a new position in shares of Avis Budget Group during the fourth quarter valued at approximately $25,000. Quadrant Capital Group LLC boosted its position in Avis Budget Group by 41.0% in the fourth quarter. Quadrant Capital Group LLC now owns 681 shares of the business services provider's stock worth $55,000 after purchasing an additional 198 shares during the last quarter. Sterling Capital Management LLC boosted its position in 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 worth $59,000 after purchasing an additional 215 shares during the last quarter. Signaturefd LLC boosted its position in Avis Budget Group by 31.8% in the fourth quarter. Signaturefd LLC now owns 936 shares of the business services provider's stock worth $75,000 after purchasing an additional 226 shares during the last quarter. Finally, Covestor Ltd boosted its position in Avis Budget Group by 36.1% in the fourth quarter. Covestor Ltd now owns 1,353 shares of the business services provider's stock worth $109,000 after purchasing an additional 359 shares during the last quarter. Hedge funds and other institutional investors own 96.35% of the company's stock.

Avis Budget Group Price Performance

Shares of CAR opened at $108.84 on Monday. The firm has a market cap of $3.83 billion, a PE ratio of -2.10 and a beta of 2.10. The stock's fifty day moving average price is $79.57 and its two-hundred day moving average price is $86.48. Avis Budget Group, Inc. has a 1 year low of $54.03 and a 1 year high of $119.50.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The business services provider reported ($14.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($5.72) by ($8.63). The firm had revenue of $2.43 billion during the quarter, compared to the consensus estimate 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 business's quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($3.21) earnings per share. Sell-side analysts anticipate that Avis Budget Group, Inc. will post 8.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Avis Budget Group

In related news, Director Lynn Krominga sold 661 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was 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 in the company, valued at approximately $318,725. The trade was a 16.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 52.80% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on CAR shares. JPMorgan Chase & Co. boosted their price objective on Avis Budget Group from $145.00 to $155.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. The Goldman Sachs Group cut their price objective on Avis Budget Group from $100.00 to $87.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Finally, StockNews.com raised Avis Budget Group from a "sell" rating to a "hold" rating in a research report on Saturday, May 3rd. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $117.00.

Avis Budget Group 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.

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