Avis Budget Group, Inc. (NASDAQ:CAR) Shares Sold by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. lessened its position in Avis Budget Group, Inc. (NASDAQ:CAR) by 34.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 581 shares of the business services provider’s stock after selling 304 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Avis Budget Group were worth $103,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CAR. Nomura Holdings Inc. raised its position in shares of Avis Budget Group by 70.4% in the first quarter. Nomura Holdings Inc. now owns 1,534,724 shares of the business services provider’s stock valued at $298,964,000 after buying an additional 634,040 shares during the last quarter. Hudson Bay Capital Management LP acquired a new position in shares of Avis Budget Group in the third quarter valued at approximately $62,892,000. Hsbc Holdings PLC raised its position in shares of Avis Budget Group by 1,573.0% in the third quarter. Hsbc Holdings PLC now owns 362,965 shares of the business services provider’s stock valued at $64,799,000 after buying an additional 341,269 shares during the last quarter. Balyasny Asset Management L.P. increased its position in Avis Budget Group by 140.2% during the first quarter. Balyasny Asset Management L.P. now owns 294,248 shares of the business services provider’s stock worth $57,320,000 after purchasing an additional 171,743 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in Avis Budget Group by 70.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 330,937 shares of the business services provider’s stock worth $64,467,000 after purchasing an additional 136,461 shares during the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

Analysts Set New Price Targets

CAR has been the subject of several research analyst reports. The Goldman Sachs Group raised shares of Avis Budget Group from a “sell” rating to a “neutral” rating and upped their price target for the stock from $118.00 to $130.00 in a research report on Thursday, April 4th. StockNews.com raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. Morgan Stanley dropped their price target on shares of Avis Budget Group from $190.00 to $187.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. JPMorgan Chase & Co. dropped their price target on shares of Avis Budget Group from $280.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, February 14th. Finally, Northcoast Research raised shares of Avis Budget Group from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a research report on Monday, March 25th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $182.14.

Avis Budget Group Trading Down 2.5 %

Shares of CAR stock opened at $111.91 on Tuesday. The company has a market capitalization of $3.99 billion, a PE ratio of 2.63 and a beta of 2.22. The firm has a fifty day simple moving average of $119.51 and a 200-day simple moving average of $157.37. Avis Budget Group, Inc. has a twelve month low of $99.60 and a twelve month high of $244.95.

Avis Budget Group (NASDAQ:CAR) last announced its earnings results on Tuesday, February 13th. The business services provider reported $7.10 earnings per share for the quarter, beating the consensus estimate of $4.15 by $2.95. The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.81 billion. Avis Budget Group had a net margin of 13.59% and a negative return on equity of 696.69%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.46 earnings per share. Equities research analysts predict that Avis Budget Group, Inc. will post 15.35 EPS for the current 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; 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.