UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Position in Avis Budget Group, Inc. (NASDAQ:CAR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 8.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,777 shares of the business services provider's stock after purchasing an additional 4,286 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.16% of Avis Budget Group worth $4,496,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Nomura Holdings Inc. boosted its holdings 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 valued at $39,537,000 after purchasing an additional 236,576 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of 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 lifted its holdings in shares of 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 position in shares of Avis Budget Group in the 4th quarter worth approximately $25,747,000. Finally, Jefferies Financial Group Inc. lifted its holdings in shares of Avis Budget Group by 1,391.0% in the 4th 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 during the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. The Goldman Sachs Group decreased 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 report on Friday, May 9th. JPMorgan Chase & Co. upped their price objective on shares of Avis Budget Group from $145.00 to $155.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Finally, Wall Street Zen upgraded shares of Avis Budget Group from a "sell" rating to a "hold" rating in a report on Saturday, May 3rd. Five equities 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, the stock presently has a consensus rating of "Hold" and an average price target of $117.00.

Avis Budget Group Trading Up 3.4%

CAR traded up $3.87 during trading hours on Thursday, hitting $116.14. 1,523,184 shares of the company's stock were exchanged, compared to its average volume of 915,669. Avis Budget Group, Inc. has a 12-month low of $54.03 and a 12-month high of $124.37. The firm has a 50 day moving average of $93.89 and a 200 day moving average of $88.46. The firm has a market cap of $4.09 billion, a P/E ratio of -2.24 and a beta of 2.10.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last announced 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 analysts' expectations of $2.49 billion. During the same period in the previous year, the company earned ($3.21) earnings per share. Avis Budget Group's quarterly revenue was down 4.7% on a year-over-year basis. As a group, research analysts expect that Avis Budget Group, Inc. will post 8.91 EPS for the current fiscal 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.