Two Sigma Advisers LP Raises Holdings in Avis Budget Group, Inc. (NASDAQ:CAR)

Two Sigma Advisers LP grew its holdings in shares of Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 162.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,400 shares of the business services provider's stock after purchasing an additional 11,400 shares during the period. Two Sigma Advisers LP owned approximately 0.05% of Avis Budget Group worth $1,483,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Nomura Holdings Inc. raised its stake in Avis Budget Group by 93.2% in the 4th quarter. Nomura Holdings Inc. now owns 490,473 shares of the business services provider's stock worth $39,537,000 after acquiring an additional 236,576 shares during the last quarter. National Bank of Canada FI raised its stake in Avis Budget Group by 266.7% in the 4th quarter. National Bank of Canada FI now owns 330,000 shares of the business services provider's stock worth $26,601,000 after acquiring an additional 240,000 shares during the last quarter. ING Groep NV raised its stake in Avis Budget Group by 310.4% in the 4th quarter. ING Groep NV now owns 325,000 shares of the business services provider's stock worth $26,198,000 after acquiring an additional 245,800 shares during the last quarter. Steadfast Capital Management LP acquired a new stake in Avis Budget Group during the 4th quarter worth about $25,747,000. Finally, Jefferies Financial Group Inc. grew its position in Avis Budget Group by 1,391.0% during the 4th quarter. Jefferies Financial Group Inc. now owns 253,200 shares of the business services provider's stock worth $20,410,000 after purchasing an additional 236,218 shares during the period. Hedge funds and other institutional investors own 96.35% of the company's stock.

Wall Street Analysts Forecast Growth

CAR has been the topic of several analyst reports. The Goldman Sachs Group cut 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. Wall Street Zen raised Avis Budget Group from a "sell" rating to a "hold" rating in a research report on Saturday, May 3rd. Finally, JPMorgan Chase & Co. increased 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. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Avis Budget Group has a consensus rating of "Hold" and an average price target of $117.00.

Avis Budget Group Stock Performance

Shares of Avis Budget Group stock traded down $2.28 on Monday, hitting $119.51. The company's stock had a trading volume of 1,398,985 shares, compared to its average volume of 904,644. Avis Budget Group, Inc. has a 1 year low of $54.03 and a 1 year high of $124.37. The firm has a fifty day moving average price of $91.13 and a 200-day moving average price of $87.97. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of -2.31 and a beta of 2.10.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last posted its quarterly earnings data 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 return on equity of 14.74% and a negative net margin of 15.45%. The firm 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 firm posted ($3.21) earnings per share. The company's quarterly revenue was down 4.7% on a year-over-year basis. As a group, analysts forecast that Avis Budget Group, Inc. will post 8.91 EPS for the current year.

Avis Budget Group Company 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.