BNP Paribas Arbitrage SNC Boosts Stock Position in Avis Budget Group, Inc. (NASDAQ:CAR)

BNP Paribas Arbitrage SNC boosted its holdings in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 8.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 73,616 shares of the business services provider’s stock after acquiring an additional 5,540 shares during the quarter. BNP Paribas Arbitrage SNC owned 0.19% of Avis Budget Group worth $16,834,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in shares of Avis Budget Group during the 1st quarter worth $38,000. AXS Investments LLC lifted its stake in shares of Avis Budget Group by 100.0% during the 1st quarter. AXS Investments LLC now owns 300 shares of the business services provider’s stock worth $58,000 after purchasing an additional 150 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Avis Budget Group during the 1st quarter worth $70,000. Ellevest Inc. lifted its stake in shares of Avis Budget Group by 170.3% during the 1st quarter. Ellevest Inc. now owns 373 shares of the business services provider’s stock worth $73,000 after purchasing an additional 235 shares during the last quarter. Finally, Fortis Capital Advisors LLC purchased a new stake in shares of Avis Budget Group during the 4th quarter worth $79,000. Hedge funds and other institutional investors own 98.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Morgan Stanley restated an “overweight” rating and set a $230.00 price objective on shares of Avis Budget Group in a research note on Friday, August 4th. JPMorgan Chase & Co. upped their target price on Avis Budget Group from $265.00 to $275.00 and gave the company an “overweight” rating in a research report on Wednesday, August 2nd. Finally, StockNews.com upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Avis Budget Group has an average rating of “Hold” and a consensus price target of $237.60.

Avis Budget Group Stock Performance

Avis Budget Group stock opened at $189.26 on Friday. The stock has a 50-day moving average of $182.20 and a two-hundred day moving average of $197.71. Avis Budget Group, Inc. has a one year low of $153.55 and a one year high of $251.26. The stock has a market cap of $6.86 billion, a PE ratio of 4.15 and a beta of 2.45.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings data on Thursday, November 2nd. The business services provider reported $16.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.54 by $2.24. Avis Budget Group had a negative return on equity of 559.82% and a net margin of 14.95%. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same period last year, the business posted $21.70 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, sell-side analysts predict that Avis Budget Group, Inc. will post 38.86 EPS for the current fiscal year.

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; the Budget Truck brand, 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 approximately 415 dealer-operated and 390 company-operated locations that serve the light commercial and consumer sectors in the continental United States; and the Zipcar brand, a car sharing network.