Mizuho Markets Americas LLC Takes $2.98 Million Position in Avis Budget Group, Inc. (NASDAQ:CAR)

Mizuho Markets Americas LLC purchased a new position in shares of Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 16,805 shares of the business services provider's stock, valued at approximately $2,979,000.

Several other large investors also recently bought and sold shares of CAR. UBS Group AG raised its holdings in shares of Avis Budget Group by 33.3% during the 3rd quarter. UBS Group AG now owns 72,683 shares of the business services provider's stock worth $13,060,000 after acquiring an additional 18,167 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in shares of Avis Budget Group by 165.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 25,571 shares of the business services provider's stock valued at $4,595,000 after buying an additional 15,943 shares during the period. Campbell & CO Investment Adviser LLC increased its holdings in shares of Avis Budget Group by 274.9% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 8,502 shares of the business services provider's stock worth $1,528,000 after buying an additional 6,234 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Avis Budget Group during the 4th quarter valued at approximately $12,317,000. Finally, Nisa Investment Advisors LLC lifted its holdings in Avis Budget Group by 1,345.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,515 shares of the business services provider's stock valued at $446,000 after acquiring an additional 2,341 shares during the last quarter. Hedge funds and other institutional investors own 96.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CAR shares. Susquehanna reduced their price target on shares of Avis Budget Group from $145.00 to $117.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 30th. The Goldman Sachs Group upgraded Avis Budget Group from a "sell" rating to a "neutral" rating and raised their price target for the stock from $118.00 to $130.00 in a research report on Thursday, April 4th. Morgan Stanley cut their target price on shares of Avis Budget Group from $190.00 to $187.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 10th. 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 report on Monday, March 25th. Finally, Bank of America dropped their price objective on Avis Budget Group from $170.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Avis Budget Group currently has an average rating of "Moderate Buy" and an average target price of $164.57.

Avis Budget Group Stock Down 2.9 %

Shares of NASDAQ CAR traded down $3.51 during midday trading on Friday, hitting $118.31. The company had a trading volume of 843,384 shares, compared to its average volume of 875,395. The business has a 50-day simple moving average of $114.34 and a two-hundred day simple moving average of $147.21. Avis Budget Group, Inc. has a twelve month low of $93.53 and a twelve month high of $244.95. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 3.73 and a beta of 2.28.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported ($3.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.65) by ($0.56). The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.41 billion. Avis Budget Group had a negative return on equity of 480.48% and a net margin of 10.05%. The business's revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $7.72 earnings per share. On average, equities analysts forecast that Avis Budget Group, Inc. will post 13.21 EPS for the current 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.

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