Avis Budget Group, Inc. (NASDAQ:CAR) Shares Sold by ING Groep NV

ING Groep NV reduced its stake in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 12.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 79,200 shares of the business services provider’s stock after selling 10,800 shares during the period. ING Groep NV’s holdings in Avis Budget Group were worth $6,937,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Central Valley Advisors LLC acquired a new stake in Avis Budget Group during the second quarter worth about $25,000. EntryPoint Capital LLC increased its holdings in shares of Avis Budget Group by 119.2% during the 1st quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 124 shares in the last quarter. Strategic Investment Solutions Inc. IL lifted its stake in shares of Avis Budget Group by 198.3% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 240 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Avis Budget Group by 293.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 305 shares during the period. Finally, Signaturefd LLC boosted its holdings in Avis Budget Group by 180.0% during the second quarter. Signaturefd LLC now owns 714 shares of the business services provider’s stock worth $75,000 after buying an additional 459 shares in the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Avis Budget Group Stock Performance

Shares of CAR stock opened at $100.25 on Friday. Avis Budget Group, Inc. has a fifty-two week low of $65.73 and a fifty-two week high of $204.77. The stock’s fifty day moving average is $85.54 and its two-hundred day moving average is $96.36. The firm has a market capitalization of $3.52 billion, a P/E ratio of 9.16 and a beta of 2.14.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings results on Thursday, October 31st. The business services provider reported $6.65 earnings per share for the quarter, missing analysts’ consensus estimates of $8.55 by ($1.90). The business had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.53 billion. Avis Budget Group had a negative return on equity of 101.41% and a net margin of 3.34%. The business’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $16.78 earnings per share. On average, equities analysts forecast that Avis Budget Group, Inc. will post 5.24 earnings per share for the current year.

Analyst Ratings Changes

CAR has been the subject of a number of analyst reports. Susquehanna decreased their price objective on shares of Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. StockNews.com raised Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. The Goldman Sachs Group dropped their price objective on Avis Budget Group from $105.00 to $90.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft reduced their target price on Avis Budget Group from $145.00 to $143.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Finally, Barclays began coverage on shares of Avis Budget Group in a report on Thursday, September 19th. They issued an “equal weight” rating and a $105.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $133.13.

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.