Xponance Inc. Increases Stock Holdings in Avis Budget Group, Inc. (NASDAQ:CAR)

Xponance Inc. raised its holdings in Avis Budget Group, Inc. (NASDAQ:CAR) by 11.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,711 shares of the business services provider’s stock after buying an additional 274 shares during the quarter. Xponance Inc.’s holdings in Avis Budget Group were worth $219,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CAR. Barclays PLC raised its position in shares of Avis Budget Group by 30.5% in the 3rd quarter. Barclays PLC now owns 200,576 shares of the business services provider’s stock valued at $17,571,000 after purchasing an additional 46,922 shares during the last quarter. Swiss National Bank lifted its position in Avis Budget Group by 0.9% during the 4th quarter. Swiss National Bank now owns 35,100 shares of the business services provider’s stock worth $2,829,000 after acquiring an additional 300 shares during the period. State Street Corp raised its stake in shares of Avis Budget Group by 2.5% in the third quarter. State Street Corp now owns 672,227 shares of the business services provider’s stock worth $58,880,000 after purchasing an additional 16,221 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Avis Budget Group by 10.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 185,801 shares of the business services provider’s stock worth $16,274,000 after purchasing an additional 17,666 shares during the period. Finally, National Bank of Canada FI boosted its position in Avis Budget Group by 1,858.7% in the third quarter. National Bank of Canada FI now owns 90,000 shares of the business services provider’s stock valued at $7,883,000 after buying an additional 85,405 shares during the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

Avis Budget Group Trading Up 0.7 %

Avis Budget Group stock opened at $74.66 on Friday. The firm has a market cap of $2.62 billion, a PE ratio of -1.44 and a beta of 2.37. The stock’s 50 day simple moving average is $79.69 and its two-hundred day simple moving average is $85.70. Avis Budget Group, Inc. has a 12 month low of $54.03 and a 12 month high of $132.25.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings results on Tuesday, February 11th. The business services provider reported ($0.23) EPS for the quarter, beating 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 forecast that Avis Budget Group, Inc. will post 8.91 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group lifted 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 note on Tuesday, December 10th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $130.71.

Insider Activity

In other news, Director Lynn Krominga sold 1,405 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $95.00, for a total transaction of $133,475.00. Following the transaction, the director now owns 1,950 shares in the company, valued at $185,250. This trade represents a 41.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 52.00% of the company’s stock.

Avis Budget Group Company Profile

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.