American International Group Inc. Sells 2,880 Shares of Avis Budget Group, Inc. (NASDAQ:CAR)

American International Group Inc. reduced its position in Avis Budget Group, Inc. (NASDAQ:CAR) by 10.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,024 shares of the business services provider’s stock after selling 2,880 shares during the period. American International Group Inc. owned approximately 0.07% of Avis Budget Group worth $4,436,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. TFO Wealth Partners LLC lifted its holdings in shares of Avis Budget Group by 15,550.0% in the 4th quarter. TFO Wealth Partners LLC now owns 313 shares of the business services provider’s stock worth $55,000 after purchasing an additional 311 shares in the last quarter. Headlands Technologies LLC bought a new position in Avis Budget Group during the 4th quarter valued at $79,000. Covestor Ltd lifted its stake in Avis Budget Group by 733.9% during the 3rd 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. lifted its stake in Avis Budget Group by 181.5% during the 3rd quarter. C M Bidwell & Associates Ltd. now owns 881 shares of the business services provider’s stock valued at $158,000 after acquiring an additional 568 shares in the last quarter. Finally, Teza Capital Management LLC bought a new position in Avis Budget Group during the 3rd quarter valued at $214,000. 96.35% of the stock is currently owned by institutional investors.

Avis Budget Group Stock Up 0.5 %

Shares of CAR stock opened at $112.38 on Friday. The stock has a market cap of $4.01 billion, a price-to-earnings ratio of 3.55 and a beta of 2.26. The business’s fifty day moving average is $110.53 and its 200 day moving average is $133.55. Avis Budget Group, Inc. has a twelve month low of $93.53 and a twelve month high of $244.95.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly 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 negative return on equity of 480.48% and a net margin of 10.05%. The firm had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the previous year, the company earned $7.72 earnings per share. Avis Budget Group’s revenue for the quarter was down .2% on a year-over-year basis. Equities research analysts expect that Avis Budget Group, Inc. will post 12.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CAR shares. Bank of America lowered their target price on Avis Budget Group from $170.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Northcoast Research upgraded Avis Budget Group from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a research note on Monday, March 25th. The Goldman Sachs Group upgraded Avis Budget Group from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $118.00 to $130.00 in a research note on Thursday, April 4th. StockNews.com upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 18th. Finally, Morgan Stanley lowered their target price on 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. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Avis Budget Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.57.

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.