Avis Budget Group, Inc. (NASDAQ:CAR) Shares Acquired by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC boosted its stake in shares of Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 209.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,336 shares of the business services provider's stock after buying an additional 6,316 shares during the quarter. Lighthouse Investment Partners LLC's holdings in Avis Budget Group were worth $753,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Barclays PLC boosted its stake in Avis Budget Group by 30.5% during the third quarter. Barclays PLC now owns 200,576 shares of the business services provider's stock worth $17,571,000 after buying an additional 46,922 shares during the period. Swiss National Bank boosted its stake in Avis Budget Group by 0.9% during the fourth quarter. Swiss National Bank now owns 35,100 shares of the business services provider's stock worth $2,829,000 after buying an additional 300 shares during the period. US Bancorp DE boosted its stake in Avis Budget Group by 9.6% during the fourth quarter. US Bancorp DE now owns 2,984 shares of the business services provider's stock worth $241,000 after buying an additional 261 shares during the period. Diversify Advisory Services LLC purchased a new position in Avis Budget Group during the fourth quarter worth about $254,000. Finally, SG Americas Securities LLC lifted its position in shares of Avis Budget Group by 234.5% during the fourth quarter. SG Americas Securities LLC now owns 32,325 shares of the business services provider's stock worth $2,606,000 after purchasing an additional 22,660 shares in the last quarter. Hedge funds and other institutional investors own 96.35% of the company's stock.

Avis Budget Group Trading Up 0.3%

NASDAQ:CAR traded up $0.30 during mid-day trading on Tuesday, hitting $113.02. The stock had a trading volume of 135,622 shares, compared to its average volume of 872,288. The stock has a 50-day simple moving average of $80.57 and a two-hundred day simple moving average of $86.63. The company has a market capitalization of $3.98 billion, a PE ratio of -2.19 and a beta of 2.10. Avis Budget Group, Inc. has a twelve month low of $54.03 and a twelve month high of $119.50.

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 the consensus estimate of ($5.72) by ($8.63). The firm had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.49 billion. Avis Budget Group had a negative net margin of 15.45% and a negative return on equity of 14.74%. The firm's revenue was down 4.7% compared to the same quarter last year. During the same period last year, the business earned ($3.21) EPS. Sell-side analysts predict that Avis Budget Group, Inc. will post 8.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CAR shares. The Goldman Sachs Group reduced their price target on shares of 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. StockNews.com raised shares of 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 shares of 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's stock. Based on data from MarketBeat, Avis Budget Group has a consensus rating of "Hold" and a consensus target price of $117.00.

Insider Activity at Avis Budget Group

In other Avis Budget Group news, Director Lynn Krominga sold 1,405 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $95.00, for a total value of $133,475.00. Following the transaction, the director now directly owns 1,950 shares in the company, valued at $185,250. This represents a 41.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 52.80% of the stock is owned by corporate insiders.

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.