Ethic Inc. acquired a new position in shares of Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,572 shares of the business services provider's stock, valued at approximately $207,000.
A number of other hedge funds have also recently made changes to their positions in the stock. Barclays PLC raised its holdings in Avis Budget Group by 30.5% in the third quarter. Barclays PLC now owns 200,576 shares of the business services provider's stock worth $17,571,000 after purchasing an additional 46,922 shares in the last quarter. Swiss National Bank grew its position in shares of Avis Budget Group by 0.9% in the 4th quarter. Swiss National Bank now owns 35,100 shares of the business services provider's stock worth $2,829,000 after buying an additional 300 shares during the last quarter. US Bancorp DE grew its position in shares of Avis Budget Group by 9.6% in the 4th quarter. US Bancorp DE now owns 2,984 shares of the business services provider's stock worth $241,000 after buying an additional 261 shares during the last quarter. Diversify Advisory Services LLC bought a new position in shares of Avis Budget Group during the 4th quarter worth approximately $254,000. Finally, SG Americas Securities LLC lifted its position in Avis Budget Group by 234.5% during the fourth quarter. SG Americas Securities LLC now owns 32,325 shares of the business services provider's stock valued at $2,606,000 after acquiring an additional 22,660 shares during the last quarter. 96.35% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other news, Director Lynn Krominga sold 1,405 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $95.00, for a total value of $133,475.00. Following the sale, the director now owns 1,950 shares in the company, valued at $185,250. This represents a 41.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 52.80% of the company's stock.
Avis Budget Group Trading Down 2.7%
Shares of NASDAQ CAR traded down $3.03 during midday trading on Wednesday, reaching $108.97. The company had a trading volume of 1,085,786 shares, compared to its average volume of 878,150. Avis Budget Group, Inc. has a 1 year low of $54.03 and a 1 year high of $118.07. The business's 50-day simple moving average is $81.70 and its 200 day simple moving average is $86.80. 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 (NASDAQ:CAR - Get Free Report) last released 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). Avis Budget Group had a negative net margin of 15.45% and a negative return on equity of 14.74%. The firm had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period in the previous year, the company earned ($3.21) earnings per share. Avis Budget Group's revenue was down 4.7% on a year-over-year basis. Analysts predict that Avis Budget Group, Inc. will post 8.91 earnings per share for the current year.
Analysts Set New Price Targets
CAR has been the topic of several analyst reports. The Goldman Sachs Group cut their price target on shares of Avis Budget Group from $100.00 to $87.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. JPMorgan Chase & Co. raised 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. Finally, StockNews.com upgraded Avis Budget Group from a "sell" rating to a "hold" rating in a research note on Saturday, May 3rd. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $117.00.
Get Our Latest Research Report on CAR
About Avis Budget Group
(
Free Report)
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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