Avis Budget Group, Inc. (NASDAQ:CAR) Shares Acquired by Two Sigma Investments LP

Two Sigma Investments LP raised its stake in Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 53.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,909 shares of the business services provider's stock after purchasing an additional 36,393 shares during the quarter. Two Sigma Investments LP owned about 0.30% of Avis Budget Group worth $8,457,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Steadfast Capital Management LP acquired a new position in shares of Avis Budget Group during the fourth quarter worth $25,747,000. ING Groep NV boosted its position 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 valued at $26,198,000 after buying an additional 245,800 shares during the last quarter. National Bank of Canada FI grew its stake in shares of Avis Budget Group by 266.7% during the fourth quarter. National Bank of Canada FI now owns 330,000 shares of the business services provider's stock valued at $26,601,000 after acquiring an additional 240,000 shares in the last quarter. Nomura Holdings Inc. increased its position in shares of Avis Budget Group by 93.2% during the fourth 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. Finally, Jefferies Financial Group Inc. lifted its stake in shares of Avis Budget Group by 1,391.0% in the fourth quarter. Jefferies Financial Group Inc. now owns 253,200 shares of the business services provider's stock worth $20,410,000 after acquiring an additional 236,218 shares in the last quarter. 96.35% of the stock is owned by institutional investors and hedge funds.

Avis Budget Group Price Performance

Shares of CAR stock traded up $1.55 on Friday, hitting $121.04. 124,972 shares of the stock traded hands, compared to its average volume of 893,957. The company's fifty day moving average is $89.88 and its 200 day moving average is $88.06. Avis Budget Group, Inc. has a 1-year low of $54.03 and a 1-year high of $124.37. The company has a market capitalization of $4.26 billion, a PE ratio of -2.34 and a beta of 2.10.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The business services provider reported ($14.35) earnings per share for the quarter, missing analysts' consensus estimates 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 analyst estimates of $2.49 billion. During the same period last year, the company posted ($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, equities research analysts expect that Avis Budget Group, Inc. will post 8.91 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CAR. 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. lifted their price target on shares of Avis Budget Group from $145.00 to $155.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Finally, The Goldman Sachs Group reduced their price objective on shares of Avis Budget Group from $100.00 to $87.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $117.00.

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.