International Assets Investment Management LLC Purchases New Shares in Avis Budget Group, Inc. (NASDAQ:CAR)

International Assets Investment Management LLC acquired a new stake in Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 69,486 shares of the business services provider's stock, valued at approximately $12,317,000. International Assets Investment Management LLC owned approximately 0.19% of Avis Budget Group at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Huntington National Bank increased its holdings 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 valued at $38,000 after acquiring an additional 105 shares during the last quarter. Covestor Ltd boosted its stake in Avis Budget Group by 733.9% in the third quarter. Covestor Ltd now owns 517 shares of the business services provider's stock valued at $93,000 after acquiring an additional 455 shares in the last quarter. C M Bidwell & Associates Ltd. grew its holdings in shares of Avis Budget Group by 181.5% during the third quarter. C M Bidwell & Associates Ltd. now owns 881 shares of the business services provider's stock worth $158,000 after purchasing an additional 568 shares during the last quarter. Teza Capital Management LLC purchased a new stake in shares of Avis Budget Group in the 3rd quarter valued at about $214,000. Finally, Blueshift Asset Management LLC acquired a new stake in shares of Avis Budget Group in the 3rd quarter valued at about $319,000. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CAR has been the subject of several research analyst reports. StockNews.com downgraded Avis Budget Group from a "hold" rating to a "sell" rating in a report on Thursday. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Avis Budget Group from $202.00 to $183.00 and set a "buy" rating for the company in a research note on Thursday, April 18th. Morgan Stanley reduced their price objective on Avis Budget Group from $190.00 to $187.00 and set an "overweight" rating for the company in a research note on Wednesday, April 10th. 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. Finally, JPMorgan Chase & Co. dropped their price objective on shares of 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Avis Budget Group has an average rating of "Moderate Buy" and a consensus price target of $164.57.

Avis Budget Group Trading Up 5.1 %

NASDAQ:CAR traded up $5.88 during trading hours on Monday, hitting $121.48. The stock had a trading volume of 953,772 shares, compared to its average volume of 853,480. Avis Budget Group, Inc. has a 1-year low of $93.53 and a 1-year high of $244.95. The company has a market cap of $4.33 billion, a PE ratio of 3.65 and a beta of 2.28. The business has a 50 day simple moving average of $111.63 and a two-hundred day simple moving average of $150.15.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last released its quarterly earnings results on Wednesday, May 1st. The business services provider reported ($3.21) earnings per share for the quarter, missing analysts' consensus estimates of ($2.65) by ($0.56). Avis Budget Group had a negative return on equity of 480.48% and a net margin of 10.05%. The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the previous year, the business posted $7.72 EPS. The firm's quarterly revenue was down .2% compared to the same quarter last year. Research analysts expect that Avis Budget Group, Inc. will post 13.55 EPS for the current fiscal year.

About Avis Budget Group

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.