UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 4,286 Shares of Avis Budget Group, Inc. (NASDAQ:CAR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Avis Budget Group, Inc. (NASDAQ:CAR) by 8.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,777 shares of the business services provider’s stock after buying an additional 4,286 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.16% of Avis Budget Group worth $4,496,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new stake in Avis Budget Group in the 4th quarter valued at about $25,000. Quadrant Capital Group LLC raised its position in shares of Avis Budget Group by 41.0% in the fourth quarter. Quadrant Capital Group LLC now owns 681 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 198 shares during the period. Sterling Capital Management LLC raised its position in shares of Avis Budget Group by 41.3% in the fourth quarter. Sterling Capital Management LLC now owns 736 shares of the business services provider’s stock valued at $59,000 after purchasing an additional 215 shares during the period. Signaturefd LLC lifted its stake in shares of Avis Budget Group by 31.8% during the 4th quarter. Signaturefd LLC now owns 936 shares of the business services provider’s stock valued at $75,000 after buying an additional 226 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in Avis Budget Group by 36.1% in the 4th quarter. Covestor Ltd now owns 1,353 shares of the business services provider’s stock worth $109,000 after buying an additional 359 shares during the period. 96.35% of the stock is currently owned by institutional investors.

Avis Budget Group Stock Down 2.3%

NASDAQ CAR opened at $116.71 on Wednesday. The stock’s 50-day simple moving average is $93.14 and its two-hundred day simple moving average is $88.30. Avis Budget Group, Inc. has a twelve month low of $54.03 and a twelve month high of $124.37. The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of -2.25 and a beta of 2.10.

Avis Budget Group (NASDAQ:CAR) last issued its earnings results on Wednesday, May 7th. The business services provider reported ($14.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($5.72) by ($8.63). Avis Budget Group had a negative return on equity of 14.74% and a negative net margin of 15.45%. The firm had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the prior year, the company earned ($3.21) EPS. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. On average, equities analysts expect that Avis Budget Group, Inc. will post 8.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group reduced their price target on Avis Budget Group from $100.00 to $87.00 and set a “neutral” rating for the company in a research report on Friday, May 9th. JPMorgan Chase & Co. lifted their target price on Avis Budget Group from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Finally, Wall Street Zen upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 3rd. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $117.00.

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.