Avis Budget Group, Inc. (NASDAQ:CAR) Shares Sold by Amundi

Amundi lowered its holdings in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 0.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 513,320 shares of the business services provider’s stock after selling 903 shares during the period. Amundi owned about 1.46% of Avis Budget Group worth $44,104,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CAR. GAMMA Investing LLC grew its holdings in shares of Avis Budget Group by 118.8% during the fourth quarter. GAMMA Investing LLC now owns 337 shares of the business services provider’s stock worth $27,000 after buying an additional 183 shares in the last quarter. Royce & Associates LP purchased a new stake in shares of Avis Budget Group during the third quarter worth about $217,000. US Bancorp DE grew its holdings in shares of Avis Budget Group by 9.6% during the fourth quarter. US Bancorp DE now owns 2,984 shares of the business services provider’s stock worth $241,000 after buying an additional 261 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in shares of Avis Budget Group during the fourth quarter worth about $254,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Avis Budget Group during the third quarter worth about $263,000. Institutional investors and hedge funds own 96.35% of the company’s stock.

Avis Budget Group Stock Performance

Avis Budget Group stock opened at $62.64 on Thursday. Avis Budget Group, Inc. has a 1 year low of $61.41 and a 1 year high of $132.25. The firm has a 50 day moving average price of $85.37 and a 200 day moving average price of $87.12. The company has a market cap of $2.20 billion, a price-to-earnings ratio of -1.21 and a beta of 2.37.

Avis Budget Group (NASDAQ:CAR) last released its earnings results on Tuesday, February 11th. The business services provider reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.27. Avis Budget Group had a negative net margin of 15.45% and a negative return on equity of 14.74%. Sell-side analysts predict that Avis Budget Group, Inc. will post 8.91 EPS for the current year.

Insiders Place Their Bets

In other Avis Budget Group news, Director Lynn Krominga sold 1,405 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $95.00, for a total transaction of $133,475.00. Following the completion of the sale, the director now directly owns 1,950 shares in the company, valued at $185,250. The trade was a 41.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 52.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CAR shares. Northcoast Research downgraded shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a report on Monday, November 18th. The Goldman Sachs Group lifted their price target on shares of Avis Budget Group from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Avis Budget Group currently has a consensus rating of “Hold” and a consensus price target of $133.75.

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.