Fmr LLC Boosts Holdings in Avis Budget Group, Inc. (NASDAQ:CAR)

Fmr LLC raised its position in Avis Budget Group, Inc. (NASDAQ:CAR) by 4.0% in the 3rd quarter, Holdings Channel reports. The firm owned 3,354,546 shares of the business services provider’s stock after buying an additional 129,805 shares during the quarter. Fmr LLC owned 0.10% of Avis Budget Group worth $293,825,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Central Valley Advisors LLC purchased a new position in shares of Avis Budget Group during the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL grew its stake in 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 buying an additional 240 shares in the last quarter. Nisa Investment Advisors LLC raised its position 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 valued at $36,000 after buying an additional 305 shares in the last quarter. Signaturefd LLC raised its position in shares of Avis Budget Group by 180.0% during the 2nd quarter. Signaturefd LLC now owns 714 shares of the business services provider’s stock valued at $75,000 after buying an additional 459 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Avis Budget Group during the 2nd quarter worth $75,000. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

Avis Budget Group Stock Up 0.2 %

Shares of NASDAQ CAR opened at $109.07 on Monday. The firm’s fifty day moving average is $91.02 and its 200 day moving average is $95.26. Avis Budget Group, Inc. has a 52 week low of $65.73 and a 52 week high of $204.77. The company has a market cap of $3.83 billion, a price-to-earnings ratio of 9.96 and a beta of 2.14.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings data on Thursday, October 31st. The business services provider reported $6.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.55 by ($1.90). The firm 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%. Avis Budget Group’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $16.78 EPS. Equities research analysts anticipate that Avis Budget Group, Inc. will post 3.59 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price target on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. StockNews.com raised Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Northcoast Research cut shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a research report on Monday, November 18th. The Goldman Sachs Group lowered their price objective on shares of Avis Budget Group from $105.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, October 11th. Finally, Susquehanna lowered 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 note on Friday, August 9th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.