Avis Budget Group, Inc. (NASDAQ:CAR) Shares Sold by US Bancorp DE

US Bancorp DE lowered its stake in Avis Budget Group, Inc. (NASDAQ:CAR) by 15.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,723 shares of the business services provider’s stock after selling 490 shares during the period. US Bancorp DE’s holdings in Avis Budget Group were worth $239,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CAR. Central Valley Advisors LLC purchased a new stake in Avis Budget Group in the 2nd quarter valued at approximately $25,000. EntryPoint Capital LLC grew its position in 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 buying an additional 124 shares during the period. Strategic Investment Solutions Inc. IL lifted its position in shares of 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 valued at $32,000 after acquiring an additional 240 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of 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 worth $36,000 after acquiring an additional 305 shares in the last quarter. Finally, Signaturefd LLC increased its stake in Avis Budget Group by 180.0% in the 2nd quarter. Signaturefd LLC now owns 714 shares of the business services provider’s stock valued at $75,000 after purchasing an additional 459 shares in the last quarter. 96.35% of the stock is owned by institutional investors and hedge funds.

Avis Budget Group Stock Up 6.5 %

NASDAQ CAR opened at $105.63 on Thursday. The stock has a market cap of $3.71 billion, a PE ratio of 9.65 and a beta of 2.14. The business has a 50 day moving average price of $84.21 and a two-hundred day moving average price of $96.31. Avis Budget Group, Inc. has a fifty-two week low of $65.73 and a fifty-two week high of $204.77.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings results on Thursday, October 31st. The business services provider reported $6.65 EPS for the quarter, missing analysts’ consensus estimates of $8.55 by ($1.90). The business had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Avis Budget Group had a net margin of 3.34% and a negative return on equity of 101.41%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $16.78 EPS. Sell-side analysts anticipate that Avis Budget Group, Inc. will post 5.24 EPS for the current fiscal year.

Analyst Ratings Changes

CAR has been the subject of several research reports. JPMorgan Chase & Co. cut their price target on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft reduced their target price on Avis Budget Group from $145.00 to $143.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. The Goldman Sachs Group cut their price target on Avis Budget Group from $105.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, October 11th. Susquehanna cut their target price on shares of Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Finally, Barclays initiated coverage on shares of Avis Budget Group in a report on Thursday, September 19th. They set an “equal weight” rating and a $105.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $133.13.

Avis Budget Group 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.