Hsbc Holdings PLC Decreases Position in Avis Budget Group, Inc. (NASDAQ:CAR)

Hsbc Holdings PLC decreased its holdings in Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 83.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,950 shares of the business services provider's stock after selling 170,817 shares during the quarter. Hsbc Holdings PLC owned 0.10% of Avis Budget Group worth $2,833,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CAR. Amalgamated Bank increased its position in Avis Budget Group by 2.0% during the fourth quarter. Amalgamated Bank now owns 7,973 shares of the business services provider's stock valued at $643,000 after acquiring an additional 155 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Avis Budget Group by 118.8% in the fourth quarter. GAMMA Investing LLC now owns 337 shares of the business services provider's stock worth $27,000 after buying an additional 183 shares during the last quarter. Yousif Capital Management LLC grew its position in Avis Budget Group by 2.5% during the fourth quarter. Yousif Capital Management LLC now owns 7,592 shares of the business services provider's stock valued at $612,000 after buying an additional 187 shares during the period. Quadrant Capital Group LLC increased its holdings in Avis Budget Group by 41.0% during 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 last quarter. Finally, Sterling Capital Management LLC boosted its stake in shares of Avis Budget Group by 41.3% during the 4th quarter. Sterling Capital Management LLC now owns 736 shares of the business services provider's stock worth $59,000 after acquiring an additional 215 shares during the last quarter. Institutional investors own 96.35% of the company's stock.

Insiders Place Their Bets

In other news, Director Lynn Krominga sold 661 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $95.00, for a total transaction of $62,795.00. Following the transaction, the director now directly owns 3,355 shares in the company, valued at approximately $318,725. This trade represents a 16.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 52.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, StockNews.com raised Avis Budget Group from a "sell" rating to a "hold" rating in a report on Saturday. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $117.60.

Avis Budget Group Trading Up 3.4 %

CAR traded up $3.20 on Friday, hitting $96.17. 999,940 shares of the company's stock traded hands, compared to its average volume of 843,352. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of -1.86 and a beta of 2.10. Avis Budget Group, Inc. has a one year low of $54.03 and a one year high of $132.25. The company's 50 day simple moving average is $73.99 and its 200-day simple moving average is $85.03.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The business services provider reported ($0.23) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.50) by $0.27. Avis Budget Group had a negative return on equity of 14.74% and a negative net margin of 15.45%. As a group, equities analysts anticipate that Avis Budget Group, Inc. will post 8.91 EPS for the current fiscal year.

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.