Avis Budget Group, Inc. (NASDAQ:CAR) Shares Bought by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC grew its holdings in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 1,345.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,515 shares of the business services provider’s stock after acquiring an additional 2,341 shares during the period. Nisa Investment Advisors LLC’s holdings in Avis Budget Group were worth $446,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CAR. Nomura Holdings Inc. lifted its position in shares of Avis Budget Group by 70.4% during the first quarter. Nomura Holdings Inc. now owns 1,534,724 shares of the business services provider’s stock worth $298,964,000 after purchasing an additional 634,040 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in shares of Avis Budget Group during the third quarter worth about $62,892,000. Hsbc Holdings PLC lifted its position in shares of Avis Budget Group by 1,573.0% during the third quarter. Hsbc Holdings PLC now owns 362,965 shares of the business services provider’s stock worth $64,799,000 after purchasing an additional 341,269 shares during the last quarter. Balyasny Asset Management L.P. lifted its position in shares of Avis Budget Group by 140.2% during the first quarter. Balyasny Asset Management L.P. now owns 294,248 shares of the business services provider’s stock worth $57,320,000 after purchasing an additional 171,743 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Avis Budget Group by 70.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 330,937 shares of the business services provider’s stock worth $64,467,000 after purchasing an additional 136,461 shares during the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Avis Budget Group Trading Down 2.9 %

Shares of NASDAQ:CAR opened at $105.35 on Thursday. The firm’s 50 day moving average is $117.15 and its two-hundred day moving average is $156.51. Avis Budget Group, Inc. has a 52 week low of $99.60 and a 52 week high of $244.95. The firm has a market capitalization of $3.76 billion, a P/E ratio of 2.47 and a beta of 2.22.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings results on Tuesday, February 13th. The business services provider reported $7.10 EPS for the quarter, beating the consensus estimate of $4.15 by $2.95. Avis Budget Group had a net margin of 13.59% and a negative return on equity of 696.69%. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter last year, the business earned $10.46 earnings per share. Avis Budget Group’s revenue was down .3% compared to the same quarter last year. Analysts predict that Avis Budget Group, Inc. will post 15.35 EPS for the current year.

Analyst Upgrades and Downgrades

CAR has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised shares of Avis Budget Group from a “hold” rating to a “buy” rating and raised their target price for the stock from $234.00 to $248.00 in a report on Thursday, January 25th. JPMorgan Chase & Co. cut their target price on shares of Avis Budget Group from $280.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. Morgan Stanley cut their target price on shares of Avis Budget Group from $190.00 to $187.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. Susquehanna cut their target price on shares of Avis Budget Group from $195.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, February 14th. Finally, Bank of America initiated coverage on shares of Avis Budget Group in a report on Tuesday, March 19th. They issued a “buy” rating and a $170.00 target price on the stock. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $182.14.

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; and the Zipcar brand, a car sharing network, as well as the Budget brand, a supplier of vehicle rental and other mobility solutions focused primarily on more value-conscious customers comprising Budget car rental, and Budget Truck, 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 dealer-operated and company-operated locations that serve the light commercial and consumer sectors in the continental United States.