Avis Budget Group, Inc. (NASDAQ:CAR) Stock Holdings Cut by KBC Group NV

KBC Group NV lowered its position in Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 97.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 903 shares of the business services provider's stock after selling 30,025 shares during the period. KBC Group NV's holdings in Avis Budget Group were worth $69,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of CAR. SummerHaven Investment Management LLC raised its stake in shares of Avis Budget Group by 2.1% during the 1st quarter. SummerHaven Investment Management LLC now owns 7,623 shares of the business services provider's stock worth $579,000 after buying an additional 160 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Avis Budget Group by 41.0% during the 4th 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 raised its stake in shares of Avis Budget Group by 41.3% during the 4th 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. Signaturefd LLC raised its stake in shares of Avis Budget Group by 31.8% during the 4th 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. Finally, UMB Bank n.a. raised its stake in shares of Avis Budget Group by 106.9% during the 1st quarter. UMB Bank n.a. now owns 478 shares of the business services provider's stock worth $36,000 after buying an additional 247 shares during the period. Hedge funds and other institutional investors own 96.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. The Goldman Sachs Group reduced their price objective on Avis Budget Group from $100.00 to $87.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. JPMorgan Chase & Co. increased their price objective on Avis Budget Group from $145.00 to $155.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Wall Street Zen raised Avis Budget Group from a "sell" rating to a "hold" rating in a research note on Saturday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $196.00 price objective (up from $130.00) on shares of Avis Budget Group in a research note on Thursday. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Avis Budget Group presently has an average rating of "Hold" and a consensus target price of $127.60.

Avis Budget Group Trading Up 1.2%

Shares of NASDAQ CAR traded up $2.19 during trading on Friday, reaching $191.38. The company had a trading volume of 1,084,894 shares, compared to its average volume of 999,278. Avis Budget Group, Inc. has a twelve month low of $54.03 and a twelve month high of $194.94. The stock has a market capitalization of $6.73 billion, a PE ratio of -3.04 and a beta of 2.19. The stock has a 50-day moving average price of $134.31 and a two-hundred day moving average price of $99.12.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last released 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). Avis Budget Group had a negative net margin of 18.96% and a negative return on equity of 14.74%. The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the company posted ($3.21) earnings per share. The business's revenue for the quarter was down 4.7% compared to the same quarter last year. On average, sell-side analysts predict that Avis Budget Group, Inc. will post 8.91 EPS 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.