New York State Teachers Retirement System Lowers Stake in Avis Budget Group, Inc. (NASDAQ:CAR)

New York State Teachers Retirement System lowered its position in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 5.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,958 shares of the business services provider’s stock after selling 1,399 shares during the period. New York State Teachers Retirement System owned about 0.07% of Avis Budget Group worth $1,851,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of CAR. Strategic Investment Solutions Inc. IL grew its position in Avis Budget Group by 198.3% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider’s stock worth $32,000 after acquiring an additional 240 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Avis Budget Group by 293.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 305 shares during the period. Sigma Planning Corp bought a new position in Avis Budget Group in the third quarter worth about $353,000. Wolverine Asset Management LLC lifted its stake in shares of Avis Budget Group by 93.4% in the 3rd quarter. Wolverine Asset Management LLC now owns 16,771 shares of the business services provider’s stock valued at $1,469,000 after purchasing an additional 8,100 shares during the period. Finally, Versor Investments LP bought a new stake in shares of Avis Budget Group during the 3rd quarter valued at $431,000. 96.35% of the stock is currently owned by institutional investors.

Insider Activity at Avis Budget Group

In other news, Director Lynn Krominga sold 661 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $95.00, for a total transaction of $62,795.00. Following the transaction, the director now directly owns 3,355 shares of the company’s stock, valued at approximately $318,725. This trade represents a 16.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 52.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CAR shares. Deutsche Bank Aktiengesellschaft lowered their price target on 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. JPMorgan Chase & Co. reduced their price objective on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating for the company in a report on Monday, November 4th. StockNews.com upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. Northcoast Research downgraded Avis Budget Group from a “buy” rating to a “neutral” rating in a report on Monday, November 18th. Finally, The Goldman Sachs Group raised their price objective on shares of Avis Budget Group from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $133.75.

Avis Budget Group Stock Down 7.2 %

CAR opened at $87.10 on Friday. The business has a fifty day moving average of $87.16 and a 200 day moving average of $88.17. The stock has a market cap of $3.06 billion, a P/E ratio of -1.68 and a beta of 2.26. Avis Budget Group, Inc. has a 52-week low of $65.73 and a 52-week high of $132.25.

Avis Budget Group (NASDAQ:CAR) last released its earnings results on Tuesday, February 11th. The business services provider reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.27. Avis Budget Group had a negative return on equity of 14.74% and a negative net margin of 15.45%. Equities analysts anticipate that Avis Budget Group, Inc. will post 8.91 EPS for the current fiscal year.

About Avis Budget Group

Avis Budget Group, Inc engages in the provision of vehicle sharing and rental services. It operates through the following segments: Americas, International, and Corporate and Other. The Americas segment includes the vehicle rental and car sharing operations in North America, South America, Central America, and the Caribbean.