SG Americas Securities LLC grew its holdings in Avis Budget Group, Inc. (NASDAQ:CAR – Free Report) by 234.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,325 shares of the business services provider’s stock after buying an additional 22,660 shares during the period. SG Americas Securities LLC’s holdings in Avis Budget Group were worth $2,606,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in CAR. GAMMA Investing LLC lifted its position in Avis Budget Group by 118.8% during the fourth quarter. GAMMA Investing LLC now owns 337 shares of the business services provider’s stock worth $27,000 after acquiring an additional 183 shares during the last quarter. Strategic Investment Solutions Inc. IL lifted its holdings 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 during the last quarter. Nisa Investment Advisors LLC boosted its stake in Avis Budget Group by 293.3% in 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. Point72 Asia Singapore Pte. Ltd. acquired a new position in Avis Budget Group in the 2nd quarter valued at $75,000. Finally, Carolina Wealth Advisors LLC increased its position in Avis Budget Group by 184.5% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 1,118 shares of the business services provider’s stock worth $98,000 after buying an additional 725 shares during the period. 96.35% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on CAR. StockNews.com raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. decreased their target price on shares of Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Northcoast Research downgraded shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a research report on Monday, November 18th. Deutsche Bank Aktiengesellschaft cut their price target on Avis Budget Group from $145.00 to $143.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group raised their price objective on Avis Budget Group from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Avis Budget Group has an average rating of “Hold” and a consensus target price of $133.75.
Avis Budget Group Price Performance
Shares of CAR opened at $90.02 on Friday. The firm has a 50 day simple moving average of $92.02 and a two-hundred day simple moving average of $89.65. The company has a market cap of $3.16 billion, a P/E ratio of 8.22 and a beta of 2.25. Avis Budget Group, Inc. has a one year low of $65.73 and a one year high of $176.79.
Avis Budget Group (NASDAQ:CAR – Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The business services provider reported $6.65 earnings per share for the quarter, missing the consensus estimate of $8.55 by ($1.90). The business had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.53 billion. Avis Budget Group had a negative return on equity of 101.41% and a net margin of 3.34%. Avis Budget Group’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $16.78 earnings per share. On average, analysts expect that Avis Budget Group, Inc. will post 3.68 earnings per share for the current fiscal year.
Avis Budget Group Profile
Avis Budget Group, Inc engages in the provision of vehicle sharing and rental services. It operates through the following segments: Americas, International, and Corporate and Other. The Americas segment includes the vehicle rental and car sharing operations in North America, South America, Central America, and the Caribbean.
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