Great Valley Advisor Group Inc. Purchases 6,756 Shares of Avis Budget Group, Inc. (NASDAQ:CAR)

Great Valley Advisor Group Inc. boosted its position in shares of Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 197.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,180 shares of the business services provider's stock after purchasing an additional 6,756 shares during the period. Great Valley Advisor Group Inc.'s holdings in Avis Budget Group were worth $1,805,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. New York Life Investment Management LLC raised its holdings in shares of Avis Budget Group by 4.0% during the fourth quarter. New York Life Investment Management LLC now owns 2,265 shares of the business services provider's stock worth $401,000 after acquiring an additional 87 shares in the last quarter. Victory Capital Management Inc. increased its position in Avis Budget Group by 12.8% in the 4th quarter. Victory Capital Management Inc. now owns 9,337 shares of the business services provider's stock worth $1,655,000 after purchasing an additional 1,059 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Avis Budget Group during the 4th quarter worth about $79,000. State of New Jersey Common Pension Fund D lifted its holdings in shares of Avis Budget Group by 14.5% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 13,989 shares of the business services provider's stock valued at $2,480,000 after buying an additional 1,772 shares during the last quarter. Finally, Alaska Permanent Fund Corp grew its stake in shares of Avis Budget Group by 2.1% in the 4th quarter. Alaska Permanent Fund Corp now owns 12,353 shares of the business services provider's stock valued at $2,190,000 after buying an additional 253 shares in the last quarter. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Susquehanna cut their target price on Avis Budget Group from $145.00 to $117.00 and set a "neutral" rating on the stock in a report on Tuesday. Bank of America dropped their target price on shares of Avis Budget Group from $170.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday. Morgan Stanley lowered their price target on Avis Budget Group from $190.00 to $187.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft cut their price objective on Avis Budget Group from $202.00 to $183.00 and set a "buy" rating for the company in a research report on Thursday, April 18th. Finally, Northcoast Research raised Avis Budget Group from a "neutral" rating to a "buy" rating and set a $155.00 target price on the stock in a report on Monday, March 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $164.57.

Avis Budget Group Price Performance

Shares of Avis Budget Group stock traded up $1.83 during trading on Friday, hitting $115.60. 1,058,751 shares of the company's stock traded hands, compared to its average volume of 852,313. The firm's fifty day moving average price is $111.63 and its 200 day moving average price is $150.53. Avis Budget Group, Inc. has a twelve month low of $93.53 and a twelve month high of $244.95. The company has a market cap of $4.12 billion, a PE ratio of 3.65 and a beta of 2.28.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last issued its earnings results on Wednesday, May 1st. The business services provider reported ($3.21) earnings per share for the quarter, missing the consensus estimate of ($2.65) by ($0.56). Avis Budget Group had a net margin of 10.05% and a negative return on equity of 729.43%. The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the firm posted $7.72 earnings per share. Avis Budget Group's revenue was down .2% on a year-over-year basis. As a group, equities research analysts anticipate that Avis Budget Group, Inc. will post 13.55 earnings per share for the current year.

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.