Avis Budget Group, Inc. (NASDAQ:CAR) Shares Sold by US Bancorp DE

US Bancorp DE lowered its stake in Avis Budget Group, Inc. (NASDAQ:CAR) by 15.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,723 shares of the business services provider’s stock after selling 490 shares during the period. US Bancorp DE’s holdings in Avis Budget Group were worth $239,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Central Valley Advisors LLC acquired a new position in shares of Avis Budget Group in the second quarter worth about $25,000. EntryPoint Capital LLC boosted its stake in Avis Budget Group by 119.2% in the 1st quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider’s stock worth $28,000 after purchasing an additional 124 shares during the period. Strategic Investment Solutions Inc. IL grew its position in Avis Budget Group by 198.3% during 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 in the last quarter. Nisa Investment Advisors LLC raised its stake in 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 purchasing an additional 305 shares during the period. Finally, Signaturefd LLC raised its stake in 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 purchasing an additional 459 shares during the period. Institutional investors and hedge funds own 96.35% of the company’s stock.

Avis Budget Group Trading Up 6.5 %

Shares of NASDAQ:CAR opened at $105.63 on Thursday. Avis Budget Group, Inc. has a 1-year low of $65.73 and a 1-year high of $204.77. The stock has a market capitalization of $3.71 billion, a P/E ratio of 9.65 and a beta of 2.14. The business has a 50-day moving average price of $84.21 and a two-hundred day moving average price of $96.31.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings data 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 negative return on equity of 101.41% and a net margin of 3.34%. The company had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.53 billion. During the same period last year, the firm earned $16.78 earnings per share. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, equities analysts predict that Avis Budget Group, Inc. will post 5.24 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Barclays started coverage on shares of Avis Budget Group in a research report on Thursday, September 19th. They set an “equal weight” rating and a $105.00 price objective on the stock. JPMorgan Chase & Co. decreased their price target on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. StockNews.com raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Susquehanna decreased their target price on 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. Finally, The Goldman Sachs Group cut their target price on shares of Avis Budget Group from $105.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $133.13.

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.