Avis Budget Group, Inc. (NASDAQ:CAR) Stock Holdings Increased by Northern Trust Corp

Northern Trust Corp raised its holdings in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 21.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,176 shares of the business services provider’s stock after acquiring an additional 27,127 shares during the period. Northern Trust Corp owned approximately 0.44% of Avis Budget Group worth $12,589,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CAR. Aster Capital Management DIFC Ltd bought a new stake in Avis Budget Group during the 4th quarter valued at $25,000. Quadrant Capital Group LLC raised its stake in Avis Budget Group by 41.0% during the 4th quarter. Quadrant Capital Group LLC now owns 681 shares of the business services provider’s stock valued at $55,000 after acquiring an additional 198 shares in the last quarter. Sterling Capital Management LLC raised its stake in Avis Budget Group by 41.3% during the 4th quarter. Sterling Capital Management LLC now owns 736 shares of the business services provider’s stock valued at $59,000 after acquiring an additional 215 shares in the last quarter. Signaturefd LLC raised its stake in Avis Budget Group by 31.8% during the 4th quarter. Signaturefd LLC now owns 936 shares of the business services provider’s stock valued at $75,000 after acquiring an additional 226 shares in the last quarter. Finally, Covestor Ltd raised its stake in Avis Budget Group by 36.1% during the 4th quarter. Covestor Ltd now owns 1,353 shares of the business services provider’s stock valued at $109,000 after acquiring an additional 359 shares in the last quarter. Institutional investors own 96.35% of the company’s stock.

Analysts Set New Price Targets

CAR has been the topic of several research analyst reports. StockNews.com upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 3rd. The Goldman Sachs Group lowered their price target on Avis Budget Group from $100.00 to $87.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. Finally, JPMorgan Chase & Co. lifted their target price on Avis Budget Group from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Avis Budget Group currently has an average rating of “Hold” and a consensus target price of $117.00.

Avis Budget Group Stock Up 3.0%

Shares of NASDAQ CAR opened at $108.84 on Friday. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of -2.10 and a beta of 2.10. The stock’s fifty day simple moving average is $79.57 and its 200 day simple moving average is $86.46. Avis Budget Group, Inc. has a 52-week low of $54.03 and a 52-week high of $121.99.

Avis Budget Group (NASDAQ:CAR) last issued its earnings results on Wednesday, May 7th. The business services provider reported ($14.35) EPS for the quarter, missing the consensus estimate of ($5.72) by ($8.63). The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.49 billion. Avis Budget Group had a negative return on equity of 14.74% and a negative net margin of 15.45%. The business’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period last year, the business earned ($3.21) EPS. As a group, analysts anticipate that Avis Budget Group, Inc. will post 8.91 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Lynn Krominga sold 1,405 shares of Avis Budget Group stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $95.00, for a total value of $133,475.00. Following the transaction, the director now directly owns 1,950 shares in the company, valued at approximately $185,250. The trade was a 41.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 52.80% of the company’s stock.

Avis Budget Group Company Profile

Avis Budget Group, Inc engages in the provision of vehicle sharing and rental services. It operates through the following segments: Americas, International, and Corporate and Other. The Americas segment includes the vehicle rental and car sharing operations in North America, South America, Central America, and the Caribbean.