69,486 Shares in Avis Budget Group, Inc. (NASDAQ:CAR) Bought by International Assets Investment Management LLC

International Assets Investment Management LLC acquired a new position in shares of Avis Budget Group, Inc. (NASDAQ:CAR) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 69,486 shares of the business services provider’s stock, valued at approximately $12,317,000. International Assets Investment Management LLC owned 0.19% of Avis Budget Group as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Oxinas Partners Wealth Management LLC purchased a new position in Avis Budget Group during the fourth quarter worth $372,000. Pacer Advisors Inc. boosted its stake in Avis Budget Group by 68.5% during the fourth quarter. Pacer Advisors Inc. now owns 2,772 shares of the business services provider’s stock worth $491,000 after buying an additional 1,127 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake in Avis Budget Group by 75.1% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 8,065 shares of the business services provider’s stock worth $1,449,000 after buying an additional 3,459 shares during the period. Hudson Bay Capital Management LP purchased a new position in Avis Budget Group during the third quarter worth $62,892,000. Finally, B. Riley Wealth Advisors Inc. boosted its stake in Avis Budget Group by 14.2% during the third quarter. B. Riley Wealth Advisors Inc. now owns 4,759 shares of the business services provider’s stock worth $855,000 after buying an additional 591 shares during the period. 96.35% of the stock is owned by hedge funds and other institutional investors.

Avis Budget Group Trading Down 5.2 %

Avis Budget Group stock opened at $114.73 on Friday. Avis Budget Group, Inc. has a 12 month low of $99.60 and a 12 month high of $244.95. The stock’s 50 day simple moving average is $120.39 and its two-hundred day simple moving average is $158.14. The firm has a market cap of $4.09 billion, a PE ratio of 2.69 and a beta of 2.22.

Avis Budget Group (NASDAQ:CAR) last announced its earnings results on Tuesday, February 13th. The business services provider reported $7.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.15 by $2.95. Avis Budget Group had a negative return on equity of 696.69% and a net margin of 13.59%. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter last year, the firm posted $10.46 EPS. The business’s revenue was down .3% on a year-over-year basis. On average, equities research analysts forecast that Avis Budget Group, Inc. will post 15.55 EPS for the current year.

Analyst Upgrades and Downgrades

CAR has been the subject of a number of recent analyst reports. Susquehanna lowered their target price on shares of Avis Budget Group from $195.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, February 14th. Morgan Stanley lowered their target price on shares of Avis Budget Group from $190.00 to $187.00 and set an “overweight” rating for the company in a research note on Wednesday. The Goldman Sachs Group raised shares of Avis Budget Group from a “sell” rating to a “neutral” rating and boosted their target price for the company from $118.00 to $130.00 in a research note on Thursday, April 4th. JPMorgan Chase & Co. lowered their target price on shares of Avis Budget Group from $280.00 to $240.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Finally, StockNews.com raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $182.14.

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.