M&T Bank Corp Has $262,000 Position in Avis Budget Group, Inc. (NASDAQ:CAR)

M&T Bank Corp lowered its position in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 24.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,453 shares of the business services provider’s stock after selling 1,098 shares during the quarter. M&T Bank Corp’s holdings in Avis Budget Group were worth $262,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CAR. SummerHaven Investment Management LLC boosted its holdings in shares of Avis Budget Group by 2.1% in the first quarter. SummerHaven Investment Management LLC now owns 7,623 shares of the business services provider’s stock valued at $579,000 after buying an additional 160 shares during the period. Quadrant Capital Group LLC boosted its holdings 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 valued at $55,000 after buying an additional 198 shares during the period. Sterling Capital Management LLC boosted its holdings in shares of 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 buying an additional 215 shares during the period. Signaturefd LLC boosted its holdings in shares of Avis Budget Group by 31.8% in the fourth quarter. Signaturefd LLC now owns 936 shares of the business services provider’s stock valued at $75,000 after buying an additional 226 shares during the period. Finally, UMB Bank n.a. boosted its holdings in shares of Avis Budget Group by 106.9% in the first quarter. UMB Bank n.a. now owns 478 shares of the business services provider’s stock valued at $36,000 after buying an additional 247 shares during the period. Institutional investors and hedge funds own 96.35% of the company’s stock.

Avis Budget Group Trading Down 1.8%

NASDAQ CAR opened at $192.48 on Friday. The firm’s fifty day moving average price is $143.68 and its two-hundred day moving average price is $102.89. Avis Budget Group, Inc. has a 1 year low of $54.03 and a 1 year high of $198.52. The firm has a market capitalization of $6.77 billion, a P/E ratio of -3.06 and a beta of 2.19.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings results on Wednesday, May 7th. The business services provider reported ($14.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($5.72) by ($8.63). Avis Budget Group had a negative return on equity of 14.74% and a negative net margin of 18.96%. The firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period last year, the company posted ($3.21) earnings per share. The business’s revenue was down 4.7% compared to the same quarter last year. On average, research analysts anticipate that Avis Budget Group, Inc. will post 8.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CAR has been the subject of several research analyst reports. The Goldman Sachs Group reduced their price target on shares of Avis Budget Group from $100.00 to $87.00 and set a “neutral” rating for the company in a report on Friday, May 9th. JPMorgan Chase & Co. increased their target price on shares of Avis Budget Group from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Wall Street Zen upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a report on Saturday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $196.00 target price (up previously from $130.00) on shares of Avis Budget Group in a report on Thursday, July 10th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $127.60.

About Avis Budget Group

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.