Avis Budget Group, Inc. (NASDAQ:CAR) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its stake in Avis Budget Group, Inc. (NASDAQ:CAR) by 10.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,607 shares of the business services provider’s stock after selling 1,411 shares during the period. Mutual of America Capital Management LLC’s holdings in Avis Budget Group were worth $2,057,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Lazard Asset Management LLC boosted its stake in Avis Budget Group by 8.8% in the 4th quarter. Lazard Asset Management LLC now owns 532 shares of the business services provider’s stock worth $87,000 after purchasing an additional 43 shares in the last quarter. Captrust Financial Advisors boosted its stake in Avis Budget Group by 3.0% in the 2nd quarter. Captrust Financial Advisors now owns 1,699 shares of the business services provider’s stock worth $389,000 after purchasing an additional 50 shares in the last quarter. Arizona State Retirement System boosted its stake in Avis Budget Group by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 6,226 shares of the business services provider’s stock worth $1,119,000 after purchasing an additional 84 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Avis Budget Group by 2.1% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 4,270 shares of the business services provider’s stock worth $767,000 after purchasing an additional 89 shares in the last quarter. Finally, Mariner LLC boosted its stake in Avis Budget Group by 7.9% in the 3rd quarter. Mariner LLC now owns 1,340 shares of the business services provider’s stock worth $241,000 after purchasing an additional 98 shares in the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Avis Budget Group from $280.00 to $240.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Susquehanna decreased their price objective on shares of Avis Budget Group from $195.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, February 14th. StockNews.com upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. Northcoast Research upgraded shares of Avis Budget Group from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research note on Monday, March 25th. Finally, Bank of America assumed coverage on shares of Avis Budget Group in a research note on Tuesday, March 19th. They set a “buy” rating and a $170.00 price objective for the company. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $172.86.

Avis Budget Group Price Performance

NASDAQ:CAR opened at $101.65 on Friday. The firm has a market cap of $3.62 billion, a price-to-earnings ratio of 2.39 and a beta of 2.22. The company has a 50 day moving average price of $114.52 and a 200-day moving average price of $155.63. Avis Budget Group, Inc. has a 1-year low of $99.60 and a 1-year high of $244.95.

Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Tuesday, February 13th. The business services provider reported $7.10 earnings per share for the quarter, beating the consensus estimate of $4.15 by $2.95. The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.81 billion. Avis Budget Group had a net margin of 13.59% and a negative return on equity of 696.69%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm earned $10.46 EPS. On average, sell-side analysts anticipate that Avis Budget Group, Inc. will post 15.35 earnings per share for the current fiscal year.

Avis Budget Group Company Profile

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.