Mutual of America Capital Management LLC Sells 1,156 Shares of Avis Budget Group, Inc. (NASDAQ:CAR)

Mutual of America Capital Management LLC reduced its stake in Avis Budget Group, Inc. (NASDAQ:CAR) by 11.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,254 shares of the business services provider’s stock after selling 1,156 shares during the period. Mutual of America Capital Management LLC’s holdings in Avis Budget Group were worth $811,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Russell Investments Group Ltd. raised its holdings in shares of Avis Budget Group by 70,663.6% in the first quarter. Russell Investments Group Ltd. now owns 7,784 shares of the business services provider’s stock valued at $954,000 after acquiring an additional 7,773 shares in the last quarter. EntryPoint Capital LLC raised its holdings in shares of Avis Budget Group by 119.2% in the 1st quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 124 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Avis Budget Group by 3.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,593 shares of the business services provider’s stock worth $1,420,000 after purchasing an additional 337 shares during the period. Caxton Associates LP bought a new position in shares of Avis Budget Group during the first quarter valued at approximately $391,000. Finally, Bayesian Capital Management LP purchased a new position in Avis Budget Group during the first quarter valued at approximately $595,000. 96.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. The Goldman Sachs Group lowered their target price 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. Deutsche Bank Aktiengesellschaft decreased their price objective on Avis Budget Group from $145.00 to $143.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Susquehanna cut their target price on Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. decreased their target price on shares of Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Finally, Northcoast Research downgraded Avis Budget Group from a “buy” rating to a “neutral” rating in a research note on Monday, November 18th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Avis Budget Group currently has a consensus rating of “Hold” and a consensus price target of $133.13.

Avis Budget Group Stock Performance

Shares of CAR opened at $107.37 on Wednesday. The stock has a 50-day moving average of $89.17 and a two-hundred day moving average of $95.67. The stock has a market cap of $3.77 billion, a P/E ratio of 9.81 and a beta of 2.14. Avis Budget Group, Inc. has a one year low of $65.73 and a one year high of $204.77.

Avis Budget Group (NASDAQ:CAR) last issued its 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). Avis Budget Group had a net margin of 3.34% and a negative return on equity of 101.41%. The firm had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.53 billion. During the same quarter in the prior year, the company earned $16.78 EPS. Avis Budget Group’s quarterly revenue was down 2.4% on a year-over-year basis. Analysts predict that Avis Budget Group, Inc. will post 4.59 EPS for the current fiscal year.

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.