Avis Budget Group, Inc. (NASDAQ:CAR) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its position in Avis Budget Group, Inc. (NASDAQ:CAR) by 0.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 592,341 shares of the business services provider’s stock after purchasing an additional 2,561 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.69% of Avis Budget Group worth $51,883,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CAR. Central Valley Advisors LLC bought a new position in Avis Budget Group during the second quarter valued at about $25,000. EntryPoint Capital LLC boosted its position in shares of Avis Budget Group by 119.2% during 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. Strategic Investment Solutions Inc. IL grew its stake in shares of Avis Budget Group by 198.3% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider’s stock worth $32,000 after purchasing an additional 240 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of 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 worth $36,000 after purchasing an additional 305 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in 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 purchasing an additional 459 shares during the last quarter. Institutional investors own 96.35% of the company’s stock.

Analyst Ratings Changes

CAR has been the topic of several research reports. JPMorgan Chase & Co. dropped their price target on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. StockNews.com upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Susquehanna reduced their price target on shares of 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. Northcoast Research downgraded shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a research note on Monday, November 18th. Finally, The Goldman Sachs Group reduced 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. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $133.13.

Avis Budget Group Stock Up 1.0 %

Shares of NASDAQ:CAR opened at $102.67 on Monday. Avis Budget Group, Inc. has a 12-month low of $65.73 and a 12-month high of $204.77. The firm has a market capitalization of $3.61 billion, a P/E ratio of 9.38 and a beta of 2.14. The firm has a fifty day moving average of $88.57 and a two-hundred day moving average of $95.93.

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 last year, the firm earned $16.78 EPS. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. Equities research analysts expect that Avis Budget Group, Inc. will post 5.24 earnings per share for the current fiscal 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.