AQR Capital Management LLC Reduces Holdings in Avis Budget Group, Inc. (NASDAQ:CAR)

AQR Capital Management LLC lessened its position in Avis Budget Group, Inc. (NASDAQ:CAR) by 0.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,488 shares of the business services provider’s stock after selling 161 shares during the quarter. AQR Capital Management LLC owned 0.12% of Avis Budget Group worth $4,336,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Central Valley Advisors LLC purchased a new stake in shares of Avis Budget Group during the second quarter valued at $25,000. Denali Advisors LLC grew its stake in Avis Budget Group by 94.1% in the 1st quarter. Denali Advisors LLC now owns 231 shares of the business services provider’s stock worth $28,000 after acquiring an additional 112 shares in the last quarter. EntryPoint Capital LLC increased its position 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. Signaturefd LLC raised its stake 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 valued at $75,000 after acquiring an additional 459 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Avis Budget Group in the second quarter worth approximately $75,000. 96.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CAR shares. Susquehanna decreased their target price 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. Barclays assumed coverage on shares of Avis Budget Group in a research note on Thursday, September 19th. They issued an “equal weight” rating and a $105.00 price objective for the company. JPMorgan Chase & Co. cut 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. 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 for the company in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Avis Budget Group from $155.00 to $146.00 and set a “buy” rating for the company in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $138.50.

Avis Budget Group Trading Up 5.4 %

Shares of CAR stock opened at $88.35 on Friday. The company has a market cap of $3.15 billion, a PE ratio of 2.79 and a beta of 2.13. Avis Budget Group, Inc. has a 12-month low of $65.73 and a 12-month high of $204.77. The business’s fifty day simple moving average is $84.20 and its 200-day simple moving average is $101.66.

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

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.