Avis Budget Group, Inc. (NASDAQ:CAR) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. decreased its position in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 21.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,750 shares of the business services provider’s stock after selling 1,009 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Avis Budget Group were worth $665,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Hudson Bay Capital Management LP purchased a new position in Avis Budget Group during the third quarter worth about $62,892,000. Norges Bank acquired a new position in Avis Budget Group in the fourth quarter valued at approximately $30,234,000. Par Capital Management Inc. grew its position in Avis Budget Group by 16.1% in the fourth quarter. Par Capital Management Inc. now owns 848,959 shares of the business services provider’s stock worth $150,486,000 after acquiring an additional 117,600 shares during the period. Bank of Nova Scotia grew its position in Avis Budget Group by 63.1% in the third quarter. Bank of Nova Scotia now owns 289,648 shares of the business services provider’s stock worth $52,047,000 after acquiring an additional 112,073 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in Avis Budget Group by 47.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 327,275 shares of the business services provider’s stock worth $58,013,000 after acquiring an additional 105,867 shares during the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Avis Budget Group Stock Up 0.5 %

NASDAQ:CAR opened at $112.38 on Friday. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 3.55 and a beta of 2.26. Avis Budget Group, Inc. has a 52 week low of $93.53 and a 52 week high of $244.95. The company has a fifty day simple moving average of $110.53 and a two-hundred day simple moving average of $133.55.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported ($3.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.65) by ($0.56). The company had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.41 billion. Avis Budget Group had a net margin of 10.05% and a negative return on equity of 480.48%. Avis Budget Group’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the prior year, the business earned $7.72 EPS. On average, analysts expect that Avis Budget Group, Inc. will post 12.48 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CAR shares. Morgan Stanley lowered their price target on Avis Budget Group from $190.00 to $187.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. The Goldman Sachs Group upgraded shares of Avis Budget Group from a “sell” rating to a “neutral” rating and lifted their price target for the company from $118.00 to $130.00 in a research report on Thursday, April 4th. Northcoast Research upgraded shares of Avis Budget Group from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a report on Monday, March 25th. StockNews.com upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a report on Tuesday, June 18th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Avis Budget Group from $202.00 to $183.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $164.57.

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.