Edgestream Partners L.P. Has $4.19 Million Stock Position in Avis Budget Group, Inc. $CAR

Edgestream Partners L.P. lowered its stake in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 37.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,795 shares of the business services provider’s stock after selling 14,842 shares during the quarter. Edgestream Partners L.P. owned about 0.07% of Avis Budget Group worth $4,192,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CAR. Vanguard Group Inc. grew its position in Avis Budget Group by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 1,610,186 shares of the business services provider’s stock worth $122,213,000 after purchasing an additional 46,038 shares during the last quarter. Hsbc Holdings PLC grew its position in Avis Budget Group by 48,706.7% during the second quarter. Hsbc Holdings PLC now owns 1,552,542 shares of the business services provider’s stock worth $256,629,000 after buying an additional 1,549,361 shares in the last quarter. Mizuho Markets Americas LLC acquired a new stake in Avis Budget Group during the first quarter worth about $18,975,000. Assenagon Asset Management S.A. increased its stake in Avis Budget Group by 92.1% during the second quarter. Assenagon Asset Management S.A. now owns 236,308 shares of the business services provider’s stock valued at $39,948,000 after acquiring an additional 113,278 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Avis Budget Group by 6.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 217,262 shares of the business services provider’s stock valued at $16,490,000 after acquiring an additional 13,988 shares in the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CAR has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price objective on Avis Budget Group from $155.00 to $157.00 and gave the stock a “neutral” rating in a report on Monday, October 20th. Weiss Ratings reiterated a “sell (d)” rating on shares of Avis Budget Group in a research note on Wednesday, October 8th. Susquehanna dropped their price objective on shares of Avis Budget Group from $145.00 to $130.00 and set a “neutral” rating for the company in a research note on Wednesday, October 29th. Barclays reduced their price objective on shares of Avis Budget Group from $150.00 to $120.00 and set an “equal weight” rating for the company in a report on Monday, November 3rd. Finally, Zacks Research raised shares of Avis Budget Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Avis Budget Group presently has a consensus rating of “Reduce” and a consensus price target of $136.83.

Avis Budget Group Stock Performance

Shares of NASDAQ CAR opened at $134.82 on Thursday. Avis Budget Group, Inc. has a 52-week low of $54.03 and a 52-week high of $212.81. The business has a fifty day moving average of $144.11 and a two-hundred day moving average of $152.02. The stock has a market cap of $4.75 billion, a PE ratio of -2.25 and a beta of 2.29.

Avis Budget Group (NASDAQ:CAR) last announced its earnings results on Monday, October 27th. The business services provider reported $10.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.11 by $2.00. The firm had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter last year, the business earned $6.65 EPS. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. Analysts predict that Avis Budget Group, Inc. will post 8.91 earnings per share for the current 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.