Thrivent Financial for Lutherans cut its holdings in shares of Avis Budget Group, Inc. (NASDAQ:CAR – Get Rating) by 13.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,684 shares of the business services provider’s stock after selling 1,009 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Avis Budget Group were worth $1,096,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. National Bank of Canada FI raised its stake in shares of Avis Budget Group by 150.4% in the fourth quarter. National Bank of Canada FI now owns 303 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 182 shares in the last quarter. Signaturefd LLC raised its stake in shares of Avis Budget Group by 160.7% in the third quarter. Signaturefd LLC now owns 352 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 217 shares in the last quarter. C M Bidwell & Associates Ltd. raised its stake in shares of Avis Budget Group by 61.4% in the third quarter. C M Bidwell & Associates Ltd. now owns 439 shares of the business services provider’s stock valued at $65,000 after purchasing an additional 167 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of Avis Budget Group by 50.9% in the third quarter. Lazard Asset Management LLC now owns 489 shares of the business services provider’s stock valued at $72,000 after purchasing an additional 165 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Avis Budget Group by 21.6% in the third quarter. Quadrant Capital Group LLC now owns 512 shares of the business services provider’s stock valued at $76,000 after purchasing an additional 91 shares in the last quarter. 98.31% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts recently commented on the company. Susquehanna cut their target price on Avis Budget Group from $240.00 to $195.00 in a research note on Wednesday, May 3rd. Morgan Stanley upgraded Avis Budget Group from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $175.00 to $185.00 in a research note on Friday, May 5th. StockNews.com started coverage on Avis Budget Group in a research note on Thursday, May 18th. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft dropped their price objective on Avis Budget Group from $261.00 to $239.00 in a research note on Wednesday, May 3rd. Finally, JPMorgan Chase & Co. increased their price objective on Avis Budget Group from $270.00 to $275.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 15th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Avis Budget Group currently has an average rating of “Hold” and a consensus price target of $221.00.
Insider Activity at Avis Budget Group
Avis Budget Group Stock Performance
Shares of CAR stock opened at $165.25 on Tuesday. The stock’s fifty day moving average is $175.54 and its 200-day moving average is $194.06. The stock has a market capitalization of $6.57 billion, a PE ratio of 2.99 and a beta of 2.31. Avis Budget Group, Inc. has a 52 week low of $131.83 and a 52 week high of $251.26.
Avis Budget Group (NASDAQ:CAR – Get Rating) last announced its earnings results on Monday, May 1st. The business services provider reported $7.72 EPS for the quarter, topping the consensus estimate of $3.34 by $4.38. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.54 billion. Avis Budget Group had a negative return on equity of 448.41% and a net margin of 21.02%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $9.99 earnings per share. As a group, analysts forecast that Avis Budget Group, Inc. will post 33.99 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 Americas and International segments. The Americas segment includes the company’s brands to third parties for vehicle rentals and ancillary products and services in North America, South America, Central America, and the Caribbean.
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