Avis Budget Group, Inc. (NASDAQ:CAR) Position Increased by State of Michigan Retirement System

State of Michigan Retirement System raised its holdings in shares of Avis Budget Group, Inc. (NASDAQ:CARFree Report) by 2.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,573 shares of the business services provider’s stock after purchasing an additional 100 shares during the period. State of Michigan Retirement System’s holdings in Avis Budget Group were worth $560,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Par Capital Management Inc. increased its stake in Avis Budget Group by 16.1% during the fourth quarter. Par Capital Management Inc. now owns 848,959 shares of the business services provider’s stock valued at $150,486,000 after purchasing an additional 117,600 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Avis Budget Group by 11.1% during the fourth quarter. Hsbc Holdings PLC now owns 403,279 shares of the business services provider’s stock valued at $71,305,000 after acquiring an additional 40,314 shares during the period. Hudson Bay Capital Management LP acquired a new position in shares of Avis Budget Group during the third quarter valued at $62,892,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Avis Budget Group by 47.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 327,275 shares of the business services provider’s stock valued at $58,013,000 after acquiring an additional 105,867 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Avis Budget Group by 18.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 296,355 shares of the business services provider’s stock valued at $52,534,000 after acquiring an additional 46,021 shares during the period. Institutional investors own 96.35% of the company’s stock.

Avis Budget Group Trading Down 2.0 %

Shares of Avis Budget Group stock opened at $105.15 on Monday. The company’s 50-day moving average price is $111.13 and its two-hundred day moving average price is $127.19. Avis Budget Group, Inc. has a 52 week low of $93.53 and a 52 week high of $244.95. The stock has a market cap of $3.75 billion, a PE ratio of 3.32 and a beta of 2.21.

Avis Budget Group (NASDAQ:CARGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The business services provider reported ($3.21) EPS for the quarter, missing the consensus estimate of ($2.65) by ($0.56). Avis Budget Group had a negative return on equity of 480.48% and a net margin of 10.05%. The business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter last year, the firm posted $7.72 earnings per share. Avis Budget Group’s revenue was down .2% compared to the same quarter last year. On average, equities analysts predict that Avis Budget Group, Inc. will post 12.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CAR shares. Morgan Stanley reduced their price target on shares of Avis Budget Group from $190.00 to $187.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. Northcoast Research raised shares of Avis Budget Group from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a report on Monday, March 25th. StockNews.com downgraded shares of Avis Budget Group from a “hold” rating to a “sell” rating in a report on Saturday. The Goldman Sachs Group raised shares of Avis Budget Group from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $118.00 to $130.00 in a report on Thursday, April 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Avis Budget Group from $202.00 to $183.00 and set a “buy” rating for the company in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Avis Budget Group has an average rating of “Moderate Buy” and an average target price of $164.57.

View Our Latest Research Report on Avis Budget Group

Avis Budget Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Avis Budget Group (NASDAQ:CAR)

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