Susquehanna Fundamental Investments LLC Reduces Stock Holdings in Avis Budget Group, Inc. (NASDAQ:CAR)

Susquehanna Fundamental Investments LLC cut its holdings in Avis Budget Group, Inc. (NASDAQ:CAR) by 21.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,235 shares of the business services provider’s stock after selling 9,171 shares during the quarter. Susquehanna Fundamental Investments LLC owned about 0.09% of Avis Budget Group worth $3,474,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CAR. Central Valley Advisors LLC acquired a new position in Avis Budget Group in the second quarter valued at approximately $25,000. Denali Advisors LLC grew its position in Avis Budget Group by 94.1% during the first quarter. Denali Advisors LLC now owns 231 shares of the business services provider’s stock valued at $28,000 after buying an additional 112 shares during the period. EntryPoint Capital LLC increased its holdings in Avis Budget Group by 119.2% in the first quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider’s stock valued at $28,000 after buying an additional 124 shares in the last quarter. TFO Wealth Partners LLC raised its position 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 acquiring an additional 311 shares during the period. Finally, Signaturefd LLC boosted its stake in shares of Avis Budget Group by 180.0% during the 2nd quarter. Signaturefd LLC now owns 714 shares of the business services provider’s stock worth $75,000 after acquiring an additional 459 shares in the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

Avis Budget Group Stock Performance

Shares of CAR stock opened at $87.59 on Monday. Avis Budget Group, Inc. has a fifty-two week low of $65.73 and a fifty-two week high of $204.77. The stock’s fifty day moving average is $85.84 and its two-hundred day moving average is $102.50. The firm has a market capitalization of $3.12 billion, a P/E ratio of 2.76 and a beta of 2.14.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings results on Monday, August 5th. The business services provider reported $0.41 earnings per share for the quarter, missing the consensus estimate of $2.60 by ($2.19). Avis Budget Group had a negative return on equity of 230.71% and a net margin of 6.58%. The business had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the prior year, the business posted $11.01 earnings per share. The business’s quarterly revenue was down 2.4% on a year-over-year basis. On average, equities analysts forecast that Avis Budget Group, Inc. will post 7.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. The Goldman Sachs Group reduced their price target on Avis Budget Group from $120.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft decreased their target price on Avis Budget Group from $155.00 to $146.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Susquehanna cut their price target on shares of Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating for the company in a report on Friday, August 9th. StockNews.com cut shares of Avis Budget Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Avis Budget Group from $205.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $138.50.

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.