Avis Budget Group, Inc. (NASDAQ:CAR) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its holdings in Avis Budget Group, Inc. (NASDAQ:CAR) by 9.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 8,500 shares of the business services provider’s stock after selling 865 shares during the period. New York State Common Retirement Fund’s holdings in Avis Budget Group were worth $685,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of Avis Budget Group by 118.8% during the 4th quarter. GAMMA Investing LLC now owns 337 shares of the business services provider’s stock worth $27,000 after buying an additional 183 shares during the last quarter. Yousif Capital Management LLC increased its holdings in Avis Budget Group by 2.5% in the 4th quarter. Yousif Capital Management LLC now owns 7,592 shares of the business services provider’s stock valued at $612,000 after purchasing an additional 187 shares in the last quarter. Inspire Investing LLC increased its holdings in Avis Budget Group by 6.4% in the 4th quarter. Inspire Investing LLC now owns 4,984 shares of the business services provider’s stock valued at $402,000 after purchasing an additional 301 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Avis Budget Group by 293.3% in 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 in the last quarter. Finally, Rhumbline Advisers increased its holdings in Avis Budget Group by 1.4% in the 4th quarter. Rhumbline Advisers now owns 49,460 shares of the business services provider’s stock valued at $3,987,000 after purchasing an additional 703 shares in the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Northcoast Research downgraded Avis Budget Group from a “buy” rating to a “neutral” rating in a report on Monday, November 18th. StockNews.com upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. JPMorgan Chase & Co. lowered their price target 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. The Goldman Sachs Group upped 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. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of 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. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Avis Budget Group presently has an average rating of “Hold” and an average price target of $133.75.

Insider Activity

In other news, Director Lynn Krominga sold 661 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $95.00, for a total transaction of $62,795.00. Following the sale, the director now owns 3,355 shares in the company, valued at approximately $318,725. This represents a 16.46 % decrease in their ownership of the stock. The sale 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 company insiders.

Avis Budget Group Trading Down 6.0 %

Avis Budget Group stock opened at $74.23 on Tuesday. The company has a market capitalization of $2.61 billion, a P/E ratio of -1.43 and a beta of 2.26. The firm’s fifty day simple moving average is $86.70 and its 200-day simple moving average is $87.95. Avis Budget Group, Inc. has a 1-year low of $65.73 and a 1-year high of $132.25.

Avis Budget Group (NASDAQ:CAR) last announced its earnings results on Tuesday, February 11th. The business services provider reported ($0.23) EPS for the quarter, topping the consensus estimate 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, equities research analysts predict that Avis Budget Group, Inc. will post 8.91 earnings per share for the current 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.