3,242 Shares in Avis Budget Group, Inc. (NASDAQ:CAR) Acquired by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. bought a new stake in Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,242 shares of the business services provider's stock, valued at approximately $246,000.

Several other large investors also recently bought and sold shares of CAR. Aster Capital Management DIFC Ltd acquired a new stake in shares of Avis Budget Group during the fourth quarter valued at $25,000. UMB Bank n.a. boosted its stake in shares of 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 acquiring an additional 247 shares during the last quarter. Quadrant Capital Group LLC lifted its position 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 worth $55,000 after buying an additional 198 shares during the period. Sterling Capital Management LLC lifted its position 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 worth $59,000 after buying an additional 215 shares during the period. Finally, Signaturefd LLC lifted its position in Avis Budget Group by 31.8% during the fourth quarter. Signaturefd LLC now owns 936 shares of the business services provider's stock worth $75,000 after buying an additional 226 shares during the period. Institutional investors and hedge funds own 96.35% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CAR shares. JPMorgan Chase & Co. increased their target price 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 dropped their target price 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, Wall Street Zen 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 assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $117.00.

Avis Budget Group Stock Down 2.6%

Shares of CAR traded down $3.30 during mid-day trading on Friday, hitting $121.91. The stock had a trading volume of 963,590 shares, compared to its average volume of 930,022. The company has a market cap of $4.29 billion, a PE ratio of -2.35 and a beta of 2.11. The company's fifty day simple moving average is $101.15 and its two-hundred day simple moving average is $89.19. Avis Budget Group, Inc. has a fifty-two week low of $54.03 and a fifty-two week high of $129.96.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The business services provider reported ($14.35) 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 analyst estimates of $2.49 billion. Avis Budget Group had a negative return on equity of 14.74% and a negative net margin of 15.45%. Avis Budget Group's revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($3.21) EPS. Equities analysts expect that Avis Budget Group, Inc. will post 8.91 earnings per share for the current year.

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.