Lazard Asset Management LLC Sells 443 Shares of Avis Budget Group, Inc. (NASDAQ:CAR)

Lazard Asset Management LLC trimmed its position in Avis Budget Group, Inc. (NASDAQ:CAR) by 28.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,125 shares of the business services provider’s stock after selling 443 shares during the period. Lazard Asset Management LLC’s holdings in Avis Budget Group were worth $89,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new stake in Avis Budget Group during the 4th quarter worth approximately $25,000. Quadrant Capital Group LLC grew its stake in shares of Avis Budget Group by 41.0% in the fourth quarter. Quadrant Capital Group LLC now owns 681 shares of the business services provider’s stock worth $55,000 after purchasing an additional 198 shares during the last quarter. Sterling Capital Management LLC increased its holdings in Avis Budget Group by 41.3% in the fourth quarter. Sterling Capital Management LLC now owns 736 shares of the business services provider’s stock valued at $59,000 after purchasing an additional 215 shares during the period. Signaturefd LLC raised its position in Avis Budget Group by 31.8% during the 4th quarter. Signaturefd LLC now owns 936 shares of the business services provider’s stock worth $75,000 after purchasing an additional 226 shares during the last quarter. Finally, Covestor Ltd raised its position 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 worth $109,000 after purchasing an additional 359 shares during the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CAR shares. The Goldman Sachs Group decreased their price target on Avis Budget Group from $100.00 to $87.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. JPMorgan Chase & Co. upped their target price on Avis Budget Group from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Finally, Wall Street Zen upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a report on Saturday, May 3rd. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Avis Budget Group currently has an average rating of “Hold” and an average price target of $117.00.

Avis Budget Group Stock Performance

Shares of CAR stock opened at $119.71 on Monday. Avis Budget Group, Inc. has a fifty-two week low of $54.03 and a fifty-two week high of $121.38. The stock has a 50 day simple moving average of $85.04 and a two-hundred day simple moving average of $87.25. The company has a market cap of $4.21 billion, a P/E ratio of -2.31 and a beta of 2.10.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings data on Wednesday, May 7th. The business services provider reported ($14.35) earnings per share for the quarter, missing the consensus estimate of ($5.72) by ($8.63). The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.49 billion. Avis Budget Group had a negative net margin of 15.45% and a negative return on equity of 14.74%. The business’s revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($3.21) EPS. On average, research analysts predict that Avis Budget Group, Inc. will post 8.91 earnings per share for the current year.

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.