Dimensional Fund Advisors LP Sells 22,211 Shares of Avis Budget Group, Inc. (NASDAQ:CAR)

Dimensional Fund Advisors LP lowered its position in Avis Budget Group, Inc. (NASDAQ:CAR) by 6.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 318,065 shares of the business services provider’s stock after selling 22,211 shares during the period. Dimensional Fund Advisors LP owned about 0.89% of Avis Budget Group worth $33,247,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. EntryPoint Capital LLC raised its holdings in shares of Avis Budget Group by 119.2% during the first quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider’s stock worth $28,000 after acquiring an additional 124 shares during the period. Denali Advisors LLC raised its stake in shares of Avis Budget Group by 94.1% in the 1st quarter. Denali Advisors LLC now owns 231 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 112 shares during the period. Central Valley Advisors LLC bought a new stake in shares of Avis Budget Group in the second quarter valued at about $25,000. TFO Wealth Partners LLC boosted its position in shares of Avis Budget Group by 15,550.0% during 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. Finally, Signaturefd LLC boosted its position in shares of Avis Budget Group by 180.0% during the second quarter. Signaturefd LLC now owns 714 shares of the business services provider’s stock worth $75,000 after buying an additional 459 shares during the period. Institutional investors and hedge funds own 96.35% of the company’s stock.

Avis Budget Group Stock Down 2.0 %

Shares of NASDAQ CAR opened at $85.85 on Wednesday. Avis Budget Group, Inc. has a twelve month low of $65.73 and a twelve month high of $204.77. The company has a market cap of $3.06 billion, a PE ratio of 2.71 and a beta of 2.14. The business’s 50 day moving average price is $85.47 and its two-hundred day moving average price is $102.28.

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 analysts’ consensus estimates of $2.60 by ($2.19). Avis Budget Group had a net margin of 6.58% and a negative return on equity of 230.71%. The business had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the company posted $11.01 EPS. The firm’s revenue was down 2.4% on a year-over-year basis. As a group, research analysts anticipate that Avis Budget Group, Inc. will post 7.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on CAR. JPMorgan Chase & Co. cut their target price on Avis Budget Group from $205.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. The Goldman Sachs Group lowered their price target on shares of Avis Budget Group from $120.00 to $105.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Barclays began coverage on shares of Avis Budget Group in a research note on Thursday, September 19th. They set an “equal weight” rating and a $105.00 price objective for the company. StockNews.com downgraded Avis Budget Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th. Finally, Susquehanna reduced their price target on Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $138.50.

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.