Avis Budget Group, Inc. (NASDAQ:CAR) Shares Bought by Swiss National Bank

Swiss National Bank grew its stake in Avis Budget Group, Inc. (NASDAQ:CAR) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,100 shares of the business services provider’s stock after purchasing an additional 300 shares during the period. Swiss National Bank owned approximately 0.10% of Avis Budget Group worth $2,829,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CAR. FMR LLC boosted its holdings in Avis Budget Group by 4.0% in the 3rd quarter. FMR LLC now owns 3,354,546 shares of the business services provider’s stock valued at $293,825,000 after purchasing an additional 129,805 shares in the last quarter. State Street Corp boosted its stake in shares of Avis Budget Group by 2.5% in the third quarter. State Street Corp now owns 672,227 shares of the business services provider’s stock valued at $58,880,000 after buying an additional 16,221 shares in the last quarter. JAT Capital Mgmt LP grew its holdings in Avis Budget Group by 24.5% during the third quarter. JAT Capital Mgmt LP now owns 398,170 shares of the business services provider’s stock worth $34,876,000 after acquiring an additional 78,383 shares during the period. Assenagon Asset Management S.A. raised its position in Avis Budget Group by 139.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 379,805 shares of the business services provider’s stock worth $30,616,000 after acquiring an additional 221,456 shares in the last quarter. Finally, ING Groep NV lifted its holdings in Avis Budget Group by 310.4% in the fourth quarter. ING Groep NV now owns 325,000 shares of the business services provider’s stock valued at $26,198,000 after acquiring an additional 245,800 shares during the period. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Avis Budget Group Stock Up 3.5 %

Shares of CAR stock opened at $61.55 on Thursday. The stock has a market cap of $2.16 billion, a P/E ratio of -1.19 and a beta of 2.37. Avis Budget Group, Inc. has a fifty-two week low of $54.03 and a fifty-two week high of $132.25. The business has a fifty day simple moving average of $80.29 and a 200-day simple moving average of $85.74.

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

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upped their price target on shares of Avis Budget Group from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $130.71.

Insider Buying and Selling at Avis Budget Group

In other Avis Budget Group news, Director Lynn Krominga sold 661 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $95.00, for a total transaction of $62,795.00. Following the sale, the director now directly owns 3,355 shares of the company’s stock, valued at $318,725. This trade represents a 16.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 52.00% of the stock is owned by insiders.

Avis Budget Group Profile

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.