SG Americas Securities LLC Has $322,000 Stock Position in Avis Budget Group, Inc. (NASDAQ:CAR)

SG Americas Securities LLC trimmed its stake in shares of Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 84.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,814 shares of the business services provider's stock after selling 10,029 shares during the quarter. SG Americas Securities LLC's holdings in Avis Budget Group were worth $322,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Huntington National Bank grew its stake in shares of Avis Budget Group by 101.0% in the 3rd quarter. Huntington National Bank now owns 209 shares of the business services provider's stock worth $38,000 after purchasing an additional 105 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Avis Budget Group in the 1st quarter worth approximately $70,000. Fortis Capital Advisors LLC acquired a new position in shares of Avis Budget Group in the 4th quarter worth approximately $79,000. State of Wyoming acquired a new position in shares of Avis Budget Group in the 4th quarter worth approximately $80,000. Finally, Lazard Asset Management LLC grew its stake in shares of Avis Budget Group by 8.8% in the 4th quarter. Lazard Asset Management LLC now owns 532 shares of the business services provider's stock worth $87,000 after purchasing an additional 43 shares during the last quarter. 96.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Morgan Stanley lowered their price objective on shares of Avis Budget Group from $230.00 to $190.00 and set an "overweight" rating on the stock in a research note on Friday, February 23rd. JPMorgan Chase & Co. dropped their target price on shares of Avis Budget Group from $280.00 to $240.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 14th. Northcoast Research raised shares of Avis Budget Group from a "neutral" rating to a "buy" rating and set a $155.00 target price on the stock in a research report on Monday, March 25th. Deutsche Bank Aktiengesellschaft raised shares of Avis Budget Group from a "hold" rating to a "buy" rating and lifted their target price for the stock from $234.00 to $248.00 in a research report on Thursday, January 25th. Finally, StockNews.com raised shares of Avis Budget Group from a "sell" rating to a "hold" rating in a research report on Monday, February 12th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $182.57.

Avis Budget Group Stock Performance

Shares of Avis Budget Group stock traded up $1.60 on Tuesday, reaching $123.56. The stock had a trading volume of 344,120 shares, compared to its average volume of 826,375. The business's 50-day moving average price is $123.04 and its two-hundred day moving average price is $159.13. Avis Budget Group, Inc. has a fifty-two week low of $99.60 and a fifty-two week high of $244.95. The stock has a market cap of $4.40 billion, a P/E ratio of 2.90 and a beta of 2.22.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last released its earnings results on Tuesday, February 13th. The business services provider reported $7.10 EPS for the quarter, beating the consensus estimate of $4.15 by $2.95. The firm had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.81 billion. Avis Budget Group had a net margin of 13.59% and a negative return on equity of 696.69%. The business's quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the company earned $10.46 EPS. As a group, equities analysts forecast that Avis Budget Group, Inc. will post 15.55 earnings per share for the current fiscal year.

Avis Budget Group Profile

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers in the Americas, Europe, the Middle East and Africa, Asia, and Australasia. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; and the Zipcar brand, a car sharing network, as well as the Budget brand, a supplier of vehicle rental and other mobility solutions focused primarily on more value-conscious customers comprising Budget car rental, and Budget Truck, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of dealer-operated and company-operated locations that serve the light commercial and consumer sectors in the continental United States.