International Assets Investment Management LLC Decreases Stock Position in Avis Budget Group, Inc. (NASDAQ:CAR)

International Assets Investment Management LLC decreased its position in Avis Budget Group, Inc. (NASDAQ:CAR) by 96.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,192 shares of the business services provider’s stock after selling 67,294 shares during the quarter. International Assets Investment Management LLC’s holdings in Avis Budget Group were worth $276,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. TFO Wealth Partners LLC increased its stake in shares of Avis Budget Group by 15,550.0% during the 4th quarter. TFO Wealth Partners LLC now owns 313 shares of the business services provider’s stock valued at $55,000 after acquiring an additional 311 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Avis Budget Group during the 4th quarter valued at about $79,000. Leo Wealth LLC acquired a new position in shares of Avis Budget Group during the 4th quarter valued at about $201,000. Teza Capital Management LLC acquired a new position in shares of Avis Budget Group during the 3rd quarter valued at about $214,000. Finally, Aigen Investment Management LP increased its stake in shares of Avis Budget Group by 4.8% during the 4th quarter. Aigen Investment Management LP now owns 1,303 shares of the business services provider’s stock valued at $231,000 after acquiring an additional 60 shares during the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

Avis Budget Group Trading Down 1.5 %

Avis Budget Group stock opened at $110.81 on Wednesday. The stock has a market cap of $3.95 billion, a P/E ratio of 3.50 and a beta of 2.26. The stock has a 50 day moving average of $110.59 and a 200-day moving average of $132.05. Avis Budget Group, Inc. has a 52 week low of $93.53 and a 52 week high of $244.95.

Avis Budget Group (NASDAQ:CAR) last released its earnings results on Wednesday, May 1st. The business services provider reported ($3.21) EPS for the quarter, missing the consensus estimate of ($2.65) by ($0.56). The business had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Avis Budget Group had a net margin of 10.05% and a negative return on equity of 480.48%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter last year, the company posted $7.72 earnings per share. As a group, equities analysts predict that Avis Budget Group, Inc. will post 12.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CAR. Susquehanna dropped their price objective on shares of Avis Budget Group from $145.00 to $117.00 and set a “neutral” rating for the company 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 boosted their target price for the stock from $118.00 to $130.00 in a report on Thursday, April 4th. Northcoast Research upgraded Avis Budget Group from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a report on Monday, March 25th. Deutsche Bank Aktiengesellschaft decreased their target price on Avis Budget Group from $202.00 to $183.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Finally, StockNews.com cut Avis Budget Group from a “hold” rating to a “sell” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.