Strs Ohio raised its position in shares of Avis Budget Group, Inc. (NASDAQ:CAR – Get Rating) 1.1% in Q1, according to the company in its latest 13F filing with the Securities and Exchange Commission. The fund held 9,000 shares of the business services provider after buying an additional 100 shares during the period. Strs Ohio’s holdings in Avis Budget Group were worth $2,369,000 at the end of the most recent period.
Several other institutional investors have also recently increased or reduced their stake in CAR. The Canada Pension Plan Investment Board increased its position in Avis Budget Group by 224.8% in the fourth quarter. The Canada Pension Plan Investment Board now owns 1,299,208 shares of the business services provider valued at $269,417,000 after acquiring 899,208 more shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Avis Budget Group in the fourth quarter at a value of $50,677,000. JPMorgan Chase & Co. increased its position in Avis Budget Group by 1,627.7% in the fourth quarter. JPMorgan Chase & Co. now owns 137,546 shares of the business services provider valued at $28,522,000 after acquiring an additional 129,585 shares in the last quarter. SG Americas Securities LLC increased its position in Avis Budget Group by 952.3% in the fourth quarter. SG Americas Securities LLC now owns 133,358 shares of the business services provider valued at $27,654,000 after acquiring an additional 120,685 shares in the last quarter. Finally, First Trust Advisors LP increased its position in Avis Budget Group by 0.9% in the fourth quarter. First Trust Advisors LP now owns 66,534 shares of the business services provider valued at $13,797,000 after acquiring 591 additional shares in the last quarter.
Avis Budget Group shares opened at $156.67 on Friday. The company has a market capitalization of $7.57 billion, a price-to-earnings ratio of 4.83, a growth price-to-earnings ratio of 0.21 and a beta of 2.11. Avis Budget Group, Inc. has a 52-week minimum of $65.87 and a 52-week maximum of $545.11. The company’s 50-day simple moving average is $187.93 and its 200-day simple moving average is $208.08.
Avis Budget Group (NASDAQ:CAR – Get Rating) last released its quarterly earnings data on Monday, May 2. The business services provider reported EPS of $9.99 for the quarter, beating analyst consensus estimates of $3.54 from $6.45. Avis Budget Group achieved a net margin of 19.13% and a negative return on equity of 635.44%. The company posted revenue of $2.43 billion for the quarter, versus a consensus estimate of $2.18 billion. In the same quarter of the previous year, the company made ($0.46) earnings per share. Equity analysts expect Avis Budget Group, Inc. to post EPS of 39.29 for the current fiscal year.
A number of equity research analysts have weighed in on CAR shares recently. Bank of America cut Avis Budget Group shares from a ‘neutral’ to an ‘underperforming’ rating and cut its price target for the company from $250.00 to $240.00 in a report research on Wednesday, April 6. Deutsche Bank Aktiengesellschaft raised its price target on Avis Budget Group shares from $193.00 to $238.00 in a Wednesday, May 4 research note. Morgan Stanley lowered its price target on shares of Avis Budget Group from $168.00 to $156.00 and set an “underweight” rating on the stock in a Tuesday, June 7 research note. Barclays lowered its price target on shares of Avis Budget Group from $223.00 to $158.00 and set an “equal weight” rating on the stock in a Tuesday July 5 research note. Finally, StockNews.com downgraded shares of Avis Budget Group from a “buy” rating to a “hold” rating in a research rating on Wednesday. Two equity research analysts rated the stock with a sell rating and four gave the stock a hold rating. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $196.40.
In other Avis Budget Group news, Chairman Bernardo Hees purchased 28,334 shares of Avis Budget Group in a transaction on Tuesday, May 24. The shares were purchased at an average price of $172.78 per share, with a total value of $4,895,548.52. Following the completion of the acquisition, the President now directly owns 450,476 shares of the company, valued at $77,833,243.28. The transaction was disclosed in a document filed with the SEC, which is available via this link. Insiders acquired 83,734 shares of the company worth $14,792,435 in the past ninety days. Insiders hold 37.30% of the shares of the company.
About Avis Budget Group (Get a rating)
Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rental, car sharing, and ancillary products and services to businesses and consumers. It operates the Avis brand, which provides vehicle rental and other mobility solutions to the premium business and leisure segments of the travel industry; the Budget Truck brand, a local one-way truck and van rental company with a fleet of approximately 20,000 vehicles, which are rented through a network of approximately 465 dealer-operated locations and 385 company-operated locations that serve the consumer and light commercial sectors in the continental United States; and the Zipcar brand, a car-sharing network.
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