Avis Budget Group, Inc. (NASDAQ:CAR) Shares Bought by LPL Financial LLC

LPL Financial LLC grew its holdings in Avis Budget Group, Inc. (NASDAQ:CAR) by 12.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,617 shares of the business services provider’s stock after purchasing an additional 748 shares during the quarter. LPL Financial LLC’s holdings in Avis Budget Group were worth $1,513,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Headlands Technologies LLC purchased a new stake in Avis Budget Group during the 1st quarter worth about $38,000. AXS Investments LLC grew its holdings in shares of Avis Budget Group by 100.0% during the first quarter. AXS Investments LLC now owns 300 shares of the business services provider’s stock worth $58,000 after buying an additional 150 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Avis Budget Group in the first quarter valued at approximately $70,000. Ellevest Inc. grew its stake in Avis Budget Group by 170.3% in the 1st quarter. Ellevest Inc. now owns 373 shares of the business services provider’s stock worth $73,000 after acquiring an additional 235 shares during the period. Finally, Fortis Capital Advisors LLC acquired a new position in Avis Budget Group in the 4th quarter valued at $79,000. 98.26% of the stock is owned by hedge funds and other institutional investors.

Avis Budget Group Price Performance

Shares of NASDAQ:CAR opened at $193.86 on Wednesday. The business has a 50-day moving average of $183.05 and a two-hundred day moving average of $197.71. The firm has a market capitalization of $7.02 billion, a PE ratio of 4.25 and a beta of 2.45. Avis Budget Group, Inc. has a 12 month low of $153.55 and a 12 month high of $251.26.

Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Thursday, November 2nd. The business services provider reported $16.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.54 by $2.24. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.59 billion. Avis Budget Group had a net margin of 14.95% and a negative return on equity of 559.82%. The company’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $21.70 EPS. As a group, research analysts anticipate that Avis Budget Group, Inc. will post 38.86 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CAR. StockNews.com raised Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Thursday, November 2nd. JPMorgan Chase & Co. upped their price objective on shares of Avis Budget Group from $265.00 to $275.00 and gave the company an “overweight” rating in a research note on Wednesday, August 2nd. Morgan Stanley reissued an “overweight” rating and issued a $230.00 target price on shares of Avis Budget Group in a research report on Friday, August 4th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Avis Budget Group from a “buy” rating to a “hold” rating and set a $263.00 target price for the company. in a report on Thursday, July 20th. Four 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, Avis Budget Group presently has a consensus rating of “Hold” and a consensus price target of $237.60.

About Avis Budget Group

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; the Budget Truck brand, 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 approximately 415 dealer-operated and 390 company-operated locations that serve the light commercial and consumer sectors in the continental United States; and the Zipcar brand, a car sharing network.