Alaska Permanent Fund Corp Has $2.19 Million Stake in Avis Budget Group, Inc. (NASDAQ:CAR)

Alaska Permanent Fund Corp raised its position in Avis Budget Group, Inc. (NASDAQ:CAR) by 2.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 12,353 shares of the business services provider’s stock after purchasing an additional 253 shares during the period. Alaska Permanent Fund Corp’s holdings in Avis Budget Group were worth $2,190,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CAR. UBS Group AG increased its stake in Avis Budget Group by 33.3% during the 3rd quarter. UBS Group AG now owns 72,683 shares of the business services provider’s stock valued at $13,060,000 after purchasing an additional 18,167 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Avis Budget Group by 165.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 25,571 shares of the business services provider’s stock valued at $4,595,000 after purchasing an additional 15,943 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its stake in Avis Budget Group by 274.9% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 8,502 shares of the business services provider’s stock valued at $1,528,000 after purchasing an additional 6,234 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Avis Budget Group during the 4th quarter valued at $12,317,000. Finally, Nisa Investment Advisors LLC increased its stake in Avis Budget Group by 1,345.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,515 shares of the business services provider’s stock valued at $446,000 after purchasing an additional 2,341 shares in the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Avis Budget Group from $202.00 to $183.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. JPMorgan Chase & Co. cut their price objective on shares of Avis Budget Group from $280.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. Bank of America began coverage on shares of Avis Budget Group in a report on Tuesday, March 19th. They set a “buy” rating and a $170.00 price objective on the stock. Northcoast Research raised shares of Avis Budget Group from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a report on Monday, March 25th. Finally, Susquehanna cut their price target on shares of Avis Budget Group from $195.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, February 14th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $172.86.

Avis Budget Group Trading Down 0.3 %

CAR stock opened at $99.25 on Friday. The company’s 50 day moving average is $111.89 and its 200 day moving average is $153.66. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 2.34 and a beta of 2.22. Avis Budget Group, Inc. has a 1-year low of $93.53 and a 1-year high of $244.95.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings results on Tuesday, February 13th. The business services provider reported $7.10 EPS for the quarter, beating analysts’ consensus estimates of $4.15 by $2.95. Avis Budget Group had a net margin of 13.59% and a negative return on equity of 696.69%. The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.81 billion. During the same period last year, the business earned $10.46 earnings per share. The business’s quarterly revenue was down .3% on a year-over-year basis. As a group, sell-side analysts forecast that Avis Budget Group, Inc. will post 14.73 EPS for the current fiscal year.

Avis Budget Group Company Profile

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers in the Americas, Europe, the Middle East and Africa, Asia, and Australasia. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; and the Zipcar brand, a car sharing network, as well as the Budget brand, a supplier of vehicle rental and other mobility solutions focused primarily on more value-conscious customers comprising Budget car rental, and Budget Truck, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of dealer-operated and company-operated locations that serve the light commercial and consumer sectors in the continental United States.