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Strs Ohio Grows Stock Holdings in Avis Budget Group, Inc. (NASDAQ:CAR)

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Strs Ohio lifted its position in shares of Avis Budget Group, Inc. (NASDAQ:CARGet Rating) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,000 shares of the business services provider’s stock after purchasing an additional 100 shares during the period. Strs Ohio’s holdings in Avis Budget Group were worth $2,369,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CAR. Canada Pension Plan Investment Board lifted its position in Avis Budget Group by 224.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,299,208 shares of the business services provider’s stock valued at $269,417,000 after acquiring an additional 899,208 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Avis Budget Group in the fourth quarter valued at $50,677,000. JPMorgan Chase & Co. lifted its position in Avis Budget Group by 1,627.7% in the fourth quarter. JPMorgan Chase & Co. now owns 137,546 shares of the business services provider’s stock valued at $28,522,000 after acquiring an additional 129,585 shares during the last quarter. SG Americas Securities LLC lifted its position in Avis Budget Group by 952.3% in the fourth quarter. SG Americas Securities LLC now owns 133,358 shares of the business services provider’s stock valued at $27,654,000 after acquiring an additional 120,685 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in Avis Budget Group by 0.9% in the fourth quarter. First Trust Advisors LP now owns 66,534 shares of the business services provider’s stock valued at $13,797,000 after acquiring an additional 591 shares during the last quarter.

Shares of Avis Budget Group stock opened at $156.67 on Friday. The firm has a market cap of $7.57 billion, a price-to-earnings ratio of 4.83, a price-to-earnings-growth ratio of 0.21 and a beta of 2.11. Avis Budget Group, Inc. has a 52-week low of $65.87 and a 52-week high of $545.11. The company’s 50-day simple moving average is $187.93 and its 200-day simple moving average is $208.08.

Avis Budget Group (NASDAQ:CARGet Rating) last released its quarterly earnings data on Monday, May 2nd. The business services provider reported $9.99 EPS for the quarter, topping analysts’ consensus estimates of $3.54 by $6.45. Avis Budget Group had a net margin of 19.13% and a negative return on equity of 635.44%. The firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the previous year, the firm earned ($0.46) earnings per share. Equities analysts forecast that Avis Budget Group, Inc. will post 39.29 EPS for the current fiscal year.

A number of equities research analysts recently weighed in on CAR shares. Bank of America cut shares of Avis Budget Group from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $250.00 to $240.00 in a research report on Wednesday, April 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Avis Budget Group from $193.00 to $238.00 in a research note on Wednesday, May 4th. Morgan Stanley dropped their price objective on shares of Avis Budget Group from $168.00 to $156.00 and set an “underweight” rating on the stock in a research note on Tuesday, June 7th. Barclays dropped their price objective on shares of Avis Budget Group from $223.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 5th. Finally, StockNews.com lowered shares of Avis Budget Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $196.40.

In other Avis Budget Group news, Chairman Bernardo Hees purchased 28,334 shares of Avis Budget Group stock in a transaction on Tuesday, May 24th. The shares were bought at an average price of $172.78 per share, with a total value of $4,895,548.52. Following the completion of the acquisition, the chairman now directly owns 450,476 shares of the company’s stock, valued at $77,833,243.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders acquired 83,734 shares of company stock worth $14,792,435 in the last ninety days. Insiders own 37.30% of the company’s stock.

About Avis Budget Group (Get Rating)

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; the Budget Truck brand, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 20,000 vehicles, which are rented through a network of approximately 465 dealer-operated and 385 company-operated locations that serve the consumer and light commercial sectors in the continental United States; and the Zipcar brand, a car sharing network.

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Institutional Ownership by Quarter for Avis Budget Group (NASDAQ:CAR)



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