Vanguard Group Inc. Sells 95,560 Shares of Avis Budget Group, Inc. (NASDAQ:CAR)

Vanguard Group Inc. lessened its holdings in Avis Budget Group, Inc. (NASDAQ:CAR) by 5.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,822,774 shares of the business services provider’s stock after selling 95,560 shares during the period. Vanguard Group Inc. owned about 5.14% of Avis Budget Group worth $323,105,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. TFO Wealth Partners LLC raised its stake in shares of Avis Budget Group by 15,550.0% in the fourth quarter. TFO Wealth Partners LLC now owns 313 shares of the business services provider’s stock worth $55,000 after buying an additional 311 shares during the period. Headlands Technologies LLC purchased a new position in Avis Budget Group during the fourth quarter valued at approximately $79,000. Teza Capital Management LLC bought a new position in shares of Avis Budget Group in the third quarter worth approximately $214,000. Aigen Investment Management LP increased its stake in shares of Avis Budget Group by 4.8% in the fourth quarter. Aigen Investment Management LP now owns 1,303 shares of the business services provider’s stock worth $231,000 after purchasing an additional 60 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new stake in shares of Avis Budget Group during the 4th quarter valued at $239,000. 96.35% of the stock is currently owned by institutional investors.

Avis Budget Group Trading Down 1.1 %

Shares of NASDAQ CAR opened at $104.52 on Friday. Avis Budget Group, Inc. has a 12-month low of $93.53 and a 12-month high of $244.95. The firm’s 50-day moving average price is $110.78 and its 200-day moving average price is $131.06. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 3.30 and a beta of 2.26.

Avis Budget Group (NASDAQ:CAR) last posted 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 company had revenue of $2.55 billion during the quarter, compared to the consensus estimate 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 previous year, the business earned $7.72 earnings per share. On average, equities analysts predict that Avis Budget Group, Inc. will post 12.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft cut their price target on Avis Budget Group from $202.00 to $183.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. The Goldman Sachs Group upgraded Avis Budget Group from a “sell” rating to a “neutral” rating and upped their price target for the stock from $118.00 to $130.00 in a research note on Thursday, April 4th. StockNews.com lowered shares of Avis Budget Group from a “hold” rating to a “sell” rating in a report on Wednesday. Morgan Stanley dropped their target price on shares of Avis Budget Group from $190.00 to $187.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. Finally, 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 report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average 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.