California State Teachers Retirement System Has $2.28 Million Stake in Avis Budget Group, Inc. (NASDAQ:CAR)

California State Teachers Retirement System trimmed its stake in Avis Budget Group, Inc. (NASDAQ:CAR) by 17.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,619 shares of the business services provider’s stock after selling 3,957 shares during the period. California State Teachers Retirement System owned about 0.05% of Avis Budget Group worth $2,280,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CAR. EntryPoint Capital LLC grew its position in Avis Budget Group by 119.2% in 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 in the last quarter. Denali Advisors LLC boosted its holdings in shares of Avis Budget Group by 94.1% during the 1st quarter. Denali Advisors LLC now owns 231 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 112 shares during the last quarter. TFO Wealth Partners LLC lifted its stake in shares of Avis Budget Group by 15,550.0% in the 4th quarter. TFO Wealth Partners LLC now owns 313 shares of the business services provider’s stock worth $55,000 after purchasing an additional 311 shares during the period. Headlands Technologies LLC purchased a new stake in Avis Budget Group in the 4th quarter worth approximately $79,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in Avis Budget Group by 55.8% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 905 shares of the business services provider’s stock worth $111,000 after purchasing an additional 324 shares during the period. Institutional investors and hedge funds own 96.35% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on CAR shares. StockNews.com raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lowered their price target on Avis Budget Group from $202.00 to $183.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. The Goldman Sachs Group decreased their price target on Avis Budget Group from $120.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday. Bank of America reduced their price objective on shares of Avis Budget Group from $170.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Avis Budget Group from $205.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $148.57.

Avis Budget Group Price Performance

NASDAQ CAR opened at $86.96 on Friday. Avis Budget Group, Inc. has a 52-week low of $79.03 and a 52-week high of $235.64. The company has a 50 day simple moving average of $104.04 and a 200-day simple moving average of $115.95. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 2.74 and a beta of 2.21.

Avis Budget Group (NASDAQ:CAR) last released its earnings results on Monday, August 5th. The business services provider reported $0.41 earnings per share for the quarter, missing the consensus estimate of $2.60 by ($2.19). The company had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.13 billion. Avis Budget Group had a net margin of 10.05% and a negative return on equity of 480.48%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $11.01 EPS. On average, analysts predict that Avis Budget Group, Inc. will post 12.28 EPS for the current year.

About Avis Budget Group

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.