2,573 Shares in Avis Budget Group, Inc. (NASDAQ:CAR) Purchased by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC acquired a new position in shares of Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,573 shares of the business services provider's stock, valued at approximately $207,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Assenagon Asset Management S.A. raised its holdings in Avis Budget Group by 139.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 379,805 shares of the business services provider's stock worth $30,616,000 after purchasing an additional 221,456 shares in the last quarter. National Bank of Canada FI raised its stake in Avis Budget Group by 266.7% during the 4th quarter. National Bank of Canada FI now owns 330,000 shares of the business services provider's stock valued at $26,601,000 after purchasing an additional 240,000 shares during the period. ING Groep NV grew its holdings in shares of Avis Budget Group by 310.4% during the 4th quarter. ING Groep NV now owns 325,000 shares of the business services provider's stock valued at $26,198,000 after acquiring an additional 245,800 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Avis Budget Group by 9.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 203,274 shares of the business services provider's stock valued at $16,386,000 after acquiring an additional 17,473 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Avis Budget Group by 30.5% during the 3rd quarter. Barclays PLC now owns 200,576 shares of the business services provider's stock valued at $17,571,000 after acquiring an additional 46,922 shares in the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Avis Budget Group from $145.00 to $155.00 and gave the company an "overweight" rating in a report on Friday, May 9th. StockNews.com upgraded shares of Avis Budget Group from a "sell" rating to a "hold" rating in a report on Saturday, May 3rd. Finally, The Goldman Sachs Group decreased their price objective on shares of Avis Budget Group from $100.00 to $87.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Avis Budget Group presently has a consensus rating of "Hold" and a consensus target price of $117.00.

Avis Budget Group Stock Performance

Shares of CAR traded up $3.17 during trading hours on Friday, reaching $108.84. 1,013,031 shares of the company traded hands, compared to its average volume of 873,653. Avis Budget Group, Inc. has a 1-year low of $54.03 and a 1-year high of $121.99. The stock has a market cap of $3.83 billion, a P/E ratio of -2.10 and a beta of 2.10. The stock's fifty day moving average is $79.57 and its 200 day moving average is $86.46.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The business services provider reported ($14.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($5.72) by ($8.63). Avis Budget Group had a negative return on equity of 14.74% and a negative net margin of 15.45%. The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the company earned ($3.21) EPS. The business's revenue for the quarter was down 4.7% on a year-over-year basis. On average, equities research analysts predict that Avis Budget Group, Inc. will post 8.91 EPS for the current year.

Insider Buying and Selling

In other news, Director Lynn Krominga sold 1,405 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $95.00, for a total transaction of $133,475.00. Following the completion of the sale, the director now owns 1,950 shares of the company's stock, valued at approximately $185,250. This trade represents a 41.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 52.80% of the company's stock.

Avis Budget Group Profile

Avis Budget Group, Inc engages in the provision of vehicle sharing and rental services. It operates through the following segments: Americas, International, and Corporate and Other. The Americas segment includes the vehicle rental and car sharing operations in North America, South America, Central America, and the Caribbean.