Rhumbline Advisers Grows Stock Holdings in Avis Budget Group, Inc. (NASDAQ:CAR)

Rhumbline Advisers raised its position in shares of Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 8.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,842 shares of the business services provider's stock after purchasing an additional 4,382 shares during the period. Rhumbline Advisers owned approximately 0.15% of Avis Budget Group worth $4,087,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Swiss National Bank raised its position in Avis Budget Group by 0.9% during the fourth quarter. Swiss National Bank now owns 35,100 shares of the business services provider's stock valued at $2,829,000 after purchasing an additional 300 shares in the last quarter. US Bancorp DE grew its position in Avis Budget Group by 9.6% during the 4th quarter. US Bancorp DE now owns 2,984 shares of the business services provider's stock worth $241,000 after acquiring an additional 261 shares during the last quarter. Captrust Financial Advisors bought a new position in Avis Budget Group during the 4th quarter worth approximately $460,000. Amalgamated Bank grew its position in Avis Budget Group by 2.0% during the 4th quarter. Amalgamated Bank now owns 7,973 shares of the business services provider's stock worth $643,000 after acquiring an additional 155 shares during the last quarter. Finally, Northern Trust Corp grew its position in Avis Budget Group by 21.0% during the 4th quarter. Northern Trust Corp now owns 156,176 shares of the business services provider's stock worth $12,589,000 after acquiring an additional 27,127 shares during the last quarter. Hedge funds and other institutional investors own 96.35% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target 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. Wall Street Zen upgraded Avis Budget Group from a "sell" rating to a "hold" rating in a research report on Saturday, May 3rd. Finally, The Goldman Sachs Group reduced their price target 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. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $117.00.

Avis Budget Group Stock Down 2.6%

CAR opened at $121.91 on Friday. The stock has a market cap of $4.29 billion, a PE ratio of -2.35 and a beta of 2.11. The business has a 50 day moving average of $101.15 and a 200-day moving average of $89.46. Avis Budget Group, Inc. has a 52 week low of $54.03 and a 52 week high of $129.96.

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 analysts' consensus estimates of ($5.72) by ($8.63). The firm had revenue of $2.43 billion during the quarter, compared to analysts' expectations 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 company's revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($3.21) EPS. Equities analysts anticipate that Avis Budget Group, Inc. will post 8.91 EPS for the current year.

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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