Diversify Advisory Services LLC Takes $254,000 Position in Avis Budget Group, Inc. (NASDAQ:CAR)

Diversify Advisory Services LLC acquired a new stake in shares of Avis Budget Group, Inc. (NASDAQ:CAR) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 3,000 shares of the business services provider’s stock, valued at approximately $254,000.

A number of other hedge funds also recently bought and sold shares of the business. GAMMA Investing LLC grew its position in shares of Avis Budget Group by 118.8% in the fourth quarter. GAMMA Investing LLC now owns 337 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 183 shares in the last quarter. Strategic Investment Solutions Inc. IL boosted its stake in Avis Budget Group by 198.3% during the third quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider’s stock worth $32,000 after buying an additional 240 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in 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 buying an additional 305 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Avis Budget Group in the 2nd quarter worth $75,000. Finally, Carolina Wealth Advisors LLC raised its holdings in shares of Avis Budget Group by 184.5% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 1,118 shares of the business services provider’s stock worth $98,000 after acquiring an additional 725 shares during the period. Institutional investors and hedge funds own 96.35% of the company’s stock.

Avis Budget Group Price Performance

Shares of Avis Budget Group stock opened at $90.92 on Friday. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of 8.30 and a beta of 2.25. The business has a 50-day moving average of $92.54 and a 200 day moving average of $89.81. Avis Budget Group, Inc. has a 12 month low of $65.73 and a 12 month high of $176.79.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings data on Thursday, October 31st. The business services provider reported $6.65 EPS for the quarter, missing the consensus estimate of $8.55 by ($1.90). Avis Budget Group had a net margin of 3.34% and a negative return on equity of 101.41%. The business had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.53 billion. During the same period in the previous year, the business posted $16.78 EPS. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. Equities research analysts anticipate that Avis Budget Group, Inc. will post 3.68 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on CAR. Northcoast Research cut shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a research report on Monday, November 18th. StockNews.com upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. JPMorgan Chase & Co. cut their target price on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. The Goldman Sachs Group upped their price target on Avis Budget Group from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Avis Budget Group from $145.00 to $143.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $133.75.

Avis Budget Group 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.