SG Americas Securities LLC Purchases 90,851 Shares of Avis Budget Group, Inc. (NASDAQ:CAR)

SG Americas Securities LLC grew its position in Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 281.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 123,176 shares of the business services provider's stock after purchasing an additional 90,851 shares during the quarter. SG Americas Securities LLC owned about 0.35% of Avis Budget Group worth $9,349,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new position in shares of Avis Budget Group in the fourth quarter valued at approximately $25,000. UMB Bank n.a. boosted its stake in shares of Avis Budget Group by 106.9% in the first quarter. UMB Bank n.a. now owns 478 shares of the business services provider's stock valued at $36,000 after buying an additional 247 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of 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 valued at $55,000 after buying an additional 198 shares during the period. Sterling Capital Management LLC boosted its stake in shares of 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 valued at $59,000 after buying an additional 215 shares during the period. Finally, Signaturefd LLC boosted its stake in shares of Avis Budget Group by 31.8% in the fourth quarter. Signaturefd LLC now owns 936 shares of the business services provider's stock valued at $75,000 after buying an additional 226 shares during the period. Institutional investors and hedge funds own 96.35% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CAR shares. Wall Street Zen upgraded Avis Budget Group from a "sell" rating to a "hold" rating in a research note on Saturday, May 3rd. JPMorgan Chase & Co. boosted their price target 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. Finally, The Goldman Sachs Group cut their price target 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. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Avis Budget Group has a consensus rating of "Hold" and an average target price of $117.00.

Avis Budget Group Trading Down 2.6%

NASDAQ CAR traded down $3.30 on Friday, hitting $121.91. 963,590 shares of the company's stock were exchanged, compared to its average volume of 928,922. The stock 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. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of -2.35 and a beta of 2.11.

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 for the quarter, missing the consensus estimate of ($5.72) by ($8.63). Avis Budget Group had a negative return on equity of 14.74% and a negative net margin of 15.45%. The business had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the company earned ($3.21) earnings per share. The firm's revenue for the quarter was down 4.7% on a year-over-year basis. As a group, analysts predict that Avis Budget Group, Inc. will post 8.91 earnings per share 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.