DekaBank Deutsche Girozentrale Sells 7,784 Shares of Avis Budget Group, Inc. (NASDAQ:CAR)

DekaBank Deutsche Girozentrale decreased its position in shares of Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 92.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 656 shares of the business services provider's stock after selling 7,784 shares during the period. DekaBank Deutsche Girozentrale's holdings in Avis Budget Group were worth $116,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CAR. Huntington National Bank boosted its stake in shares of Avis Budget Group by 101.0% during the third quarter. Huntington National Bank now owns 209 shares of the business services provider's stock valued at $38,000 after purchasing an additional 105 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Avis Budget Group in the first quarter worth approximately $70,000. Fortis Capital Advisors LLC acquired a new position in shares of Avis Budget Group in the fourth quarter worth approximately $79,000. State of Wyoming acquired a new position in shares of Avis Budget Group in the fourth quarter worth approximately $80,000. Finally, Lazard Asset Management LLC lifted its stake in shares of Avis Budget Group by 8.8% in the fourth quarter. Lazard Asset Management LLC now owns 532 shares of the business services provider's stock worth $87,000 after acquiring an additional 43 shares during the period. Institutional investors own 96.35% of the company's stock.

Avis Budget Group Price Performance

Shares of NASDAQ CAR traded down $3.35 during trading on Thursday, reaching $102.00. 929,714 shares of the stock traded hands, compared to its average volume of 829,726. Avis Budget Group, Inc. has a 52-week low of $99.60 and a 52-week high of $244.95. The company has a 50-day moving average of $117.15 and a 200-day moving average of $156.51. The stock has a market capitalization of $3.64 billion, a P/E ratio of 2.39 and a beta of 2.22.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 13th. The business services provider reported $7.10 EPS for the quarter, beating analysts' consensus estimates of $4.15 by $2.95. Avis Budget Group had a negative return on equity of 696.69% and a net margin of 13.59%. The firm had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.81 billion. During the same quarter in the prior year, the firm earned $10.46 EPS. The business's revenue for the quarter was down .3% compared to the same quarter last year. Analysts expect that Avis Budget Group, Inc. will post 15.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CAR shares. JPMorgan Chase & Co. cut their price objective on Avis Budget Group from $280.00 to $240.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 14th. Bank of America started coverage on Avis Budget Group in a report on Tuesday, March 19th. They issued a "buy" rating and a $170.00 target price for the company. StockNews.com upgraded Avis Budget Group from a "sell" rating to a "hold" rating in a report on Monday, February 12th. Morgan Stanley lowered their target price on Avis Budget Group from $190.00 to $187.00 and set an "overweight" rating for the company in a report on Wednesday, April 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Avis Budget Group from $202.00 to $183.00 and set a "buy" rating for the company in a report on Thursday. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $172.86.

Avis Budget Group Company 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.