Victory Capital Management Inc. Has $1.06 Million Stock Holdings in Avis Budget Group, Inc. (NASDAQ:CAR)

Victory Capital Management Inc. grew its stake in Avis Budget Group, Inc. (NASDAQ:CAR) by 23.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,078 shares of the business services provider’s stock after purchasing an additional 2,276 shares during the period. Victory Capital Management Inc.’s holdings in Avis Budget Group were worth $1,058,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Central Valley Advisors LLC bought a new position in shares of Avis Budget Group during the second quarter valued at $25,000. EntryPoint Capital LLC boosted its position 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. Strategic Investment Solutions Inc. IL grew its stake in Avis Budget Group by 198.3% during the third quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider’s stock worth $32,000 after buying an additional 240 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Avis Budget Group by 293.3% during the third quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider’s stock worth $36,000 after buying an additional 305 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of Avis Budget Group by 180.0% in the second quarter. Signaturefd LLC now owns 714 shares of the business services provider’s stock valued at $75,000 after acquiring an additional 459 shares during the last quarter. 96.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CAR has been the topic of a number of research analyst reports. Northcoast Research lowered Avis Budget Group from a “buy” rating to a “neutral” rating in a research report on Monday, November 18th. Barclays started coverage on Avis Budget Group in a report on Thursday, September 19th. They set an “equal weight” rating and a $105.00 target price on the stock. StockNews.com raised Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. The Goldman Sachs Group decreased their price objective on shares of Avis Budget Group from $105.00 to $90.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Avis Budget Group from $145.00 to $143.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Avis Budget Group presently has a consensus rating of “Hold” and a consensus price target of $133.13.

Avis Budget Group Trading Down 1.3 %

Avis Budget Group stock opened at $107.37 on Wednesday. The company has a market cap of $3.77 billion, a PE ratio of 9.91 and a beta of 2.14. Avis Budget Group, Inc. has a 1 year low of $65.73 and a 1 year high of $204.77. The company’s 50-day moving average is $89.17 and its two-hundred day moving average is $95.67.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings data on Thursday, October 31st. The business services provider reported $6.65 earnings per share for the quarter, missing the consensus estimate of $8.55 by ($1.90). Avis Budget Group had a net margin of 3.34% and a negative return on equity of 101.41%. The business had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.53 billion. During the same quarter in the prior year, the company earned $16.78 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis. Research analysts forecast that Avis Budget Group, Inc. will post 4.59 EPS for the current year.

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.