Nuveen Asset Management LLC Sells 10,583 Shares of Avis Budget Group, Inc. (NASDAQ:CAR)

Nuveen Asset Management LLC lowered its position in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 21.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,238 shares of the business services provider’s stock after selling 10,583 shares during the period. Nuveen Asset Management LLC owned 0.11% of Avis Budget Group worth $3,163,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in CAR. Barclays PLC increased its stake in Avis Budget Group by 30.5% during the 3rd quarter. Barclays PLC now owns 200,576 shares of the business services provider’s stock worth $17,571,000 after acquiring an additional 46,922 shares during the period. KBC Group NV increased its stake in shares of Avis Budget Group by 4,896.4% in the 4th quarter. KBC Group NV now owns 30,928 shares of the business services provider’s stock valued at $2,493,000 after purchasing an additional 30,309 shares during the last quarter. Yousif Capital Management LLC increased its stake in shares of Avis Budget Group by 2.5% in the 4th quarter. Yousif Capital Management LLC now owns 7,592 shares of the business services provider’s stock valued at $612,000 after purchasing an additional 187 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Avis Budget Group in the 4th quarter valued at $275,000. Finally, Entropy Technologies LP bought a new position in shares of Avis Budget Group in the 4th quarter valued at $280,000. Institutional investors own 96.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wall Street Zen upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 3rd. The Goldman Sachs Group reduced their price objective 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. boosted their price objective on Avis Budget Group from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $117.00.

Avis Budget Group Trading Up 1.9%

Shares of CAR opened at $121.73 on Monday. The company has a market capitalization of $4.28 billion, a PE ratio of -2.35 and a beta of 2.10. Avis Budget Group, Inc. has a 12 month low of $54.03 and a 12 month high of $124.37. The stock’s 50-day moving average price is $91.13 and its two-hundred day moving average price is $87.97.

Avis Budget Group (NASDAQ:CAR) last announced 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 company had revenue of $2.43 billion for 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 firm’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($3.21) earnings per share. Equities research analysts predict that Avis Budget Group, Inc. will post 8.91 EPS for the current fiscal year.

Avis Budget Group 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.