Caxton Associates LLP Buys New Shares in Avis Budget Group, Inc. $CAR

Caxton Associates LLP purchased a new position in Avis Budget Group, Inc. (NASDAQ:CAR) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 27,377 shares of the business services provider’s stock, valued at approximately $4,628,000. Caxton Associates LLP owned about 0.08% of Avis Budget Group at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Fifth Third Bancorp lifted its stake in shares of Avis Budget Group by 32.6% in the second quarter. Fifth Third Bancorp now owns 228 shares of the business services provider’s stock valued at $39,000 after buying an additional 56 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in Avis Budget Group by 421.1% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 839 shares of the business services provider’s stock valued at $64,000 after acquiring an additional 678 shares in the last quarter. Quarry LP grew its holdings in shares of Avis Budget Group by 399.5% during the 1st quarter. Quarry LP now owns 909 shares of the business services provider’s stock worth $69,000 after purchasing an additional 727 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Avis Budget Group by 19.6% during the second quarter. EverSource Wealth Advisors LLC now owns 427 shares of the business services provider’s stock valued at $72,000 after purchasing an additional 70 shares during the period. Finally, Allworth Financial LP lifted its position in Avis Budget Group by 125.7% in the second quarter. Allworth Financial LP now owns 474 shares of the business services provider’s stock worth $80,000 after purchasing an additional 264 shares during the period. Institutional investors own 96.35% of the company’s stock.

Avis Budget Group Stock Performance

Shares of CAR stock opened at $131.03 on Friday. Avis Budget Group, Inc. has a 52 week low of $54.03 and a 52 week high of $212.81. The stock has a market capitalization of $4.61 billion, a PE ratio of -2.19 and a beta of 2.29. The stock’s fifty day moving average is $140.43 and its 200-day moving average is $152.88.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings results on Monday, October 27th. The business services provider reported $10.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.11 by $2.00. The business had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the prior year, the firm earned $6.65 earnings per share. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. As a group, analysts forecast that Avis Budget Group, Inc. will post 8.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CAR shares. Morgan Stanley reissued an “equal weight” rating and issued a $142.00 price target (up previously from $115.00) on shares of Avis Budget Group in a report on Monday, December 8th. Barclays lowered their target price on shares of Avis Budget Group from $150.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Monday, November 3rd. Bank of America restated an “underperform” rating and set a $113.00 price target (down previously from $120.00) on shares of Avis Budget Group in a research note on Wednesday, August 20th. Susquehanna decreased their price objective on Avis Budget Group from $145.00 to $130.00 and set a “neutral” rating on the stock in a report on Wednesday, October 29th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Avis Budget Group in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $137.57.

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.