Pictet Asset Management SA Has $405,000 Holdings in Avis Budget Group, Inc. (NASDAQ:CAR)

Pictet Asset Management SA cut its holdings in shares of Avis Budget Group, Inc. (NASDAQ:CARGet Rating) by 6.6% in the second quarter, HoldingsChannel reports. The fund owned 2,752 shares of the business services provider’s stock after selling 195 shares during the quarter. Pictet Asset Management SA’s holdings in Avis Budget Group were worth $405,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. National Bank of Canada FI lifted its holdings in shares of Avis Budget Group by 616,533.8% during the 2nd quarter. National Bank of Canada FI now owns 857,121 shares of the business services provider’s stock valued at $126,066,000 after buying an additional 856,982 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Avis Budget Group by 203.5% during the 1st quarter. Bank of America Corp DE now owns 789,094 shares of the business services provider’s stock valued at $207,769,000 after buying an additional 529,066 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Avis Budget Group by 11,720.4% during the 1st quarter. Hsbc Holdings PLC now owns 198,110 shares of the business services provider’s stock valued at $52,044,000 after buying an additional 196,434 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Avis Budget Group during the 2nd quarter valued at about $12,585,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Avis Budget Group by 27.7% during the 1st quarter. JPMorgan Chase & Co. now owns 175,623 shares of the business services provider’s stock valued at $46,242,000 after buying an additional 38,077 shares during the last quarter. 98.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Avis Budget Group from $218.00 to $233.00 in a report on Wednesday, November 2nd. StockNews.com started coverage on Avis Budget Group in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Jefferies Financial Group lowered Avis Budget Group to a “buy” rating and reduced their target price for the stock from $309.00 to $270.00 in a report on Tuesday, October 25th. Morgan Stanley boosted their target price on Avis Budget Group from $150.00 to $160.00 and gave the stock an “underweight” rating in a report on Thursday, November 3rd. Finally, JPMorgan Chase & Co. upgraded Avis Budget Group from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $230.00 to $231.00 in a report on Monday, October 24th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Avis Budget Group presently has a consensus rating of “Hold” and a consensus target price of $215.33.

Avis Budget Group Stock Down 1.2 %

Shares of NASDAQ CAR opened at $222.79 on Thursday. The business’s 50 day moving average is $194.64 and its two-hundred day moving average is $180.98. The company has a market cap of $9.24 billion, a P/E ratio of 4.15 and a beta of 2.26. Avis Budget Group, Inc. has a 12 month low of $131.83 and a 12 month high of $327.80.

Avis Budget Group (NASDAQ:CARGet Rating) last issued its quarterly earnings results on Monday, October 31st. The business services provider reported $21.70 EPS for the quarter, topping the consensus estimate of $14.80 by $6.90. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.54 billion. Avis Budget Group had a negative return on equity of 473.08% and a net margin of 23.09%. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the previous year, the business posted $10.74 EPS. Sell-side analysts expect that Avis Budget Group, Inc. will post 52.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Avis Budget Group news, EVP Edward P. Linnen sold 9,000 shares of Avis Budget Group stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $220.78, for a total value of $1,987,020.00. Following the transaction, the executive vice president now directly owns 36,468 shares of the company’s stock, valued at approximately $8,051,405.04. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Edward P. Linnen sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $220.78, for a total transaction of $1,987,020.00. Following the sale, the executive vice president now directly owns 36,468 shares in the company, valued at $8,051,405.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Patrick K. Rankin sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $230.05, for a total value of $2,300,500.00. Following the sale, the insider now owns 41,935 shares in the company, valued at $9,647,146.75. The disclosure for this sale can be found here. Insiders have sold a total of 23,172 shares of company stock valued at $5,266,897 in the last three months. Company insiders own 37.30% of the company’s stock.

Avis Budget Group Company Profile

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Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; the Budget Truck brand, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 20,000 vehicles, which are rented through a network of approximately 465 dealer-operated and 385 company-operated locations that serve the consumer and light commercial sectors in the continental United States; and the Zipcar brand, a car sharing network.

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Institutional Ownership by Quarter for Avis Budget Group (NASDAQ:CAR)

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