Verition Fund Management LLC lessened its position in shares of Avis Budget Group Inc. (NASDAQ:CAR) by 77.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,190 shares of the business services provider’s stock after selling 27,660 shares during the quarter. Verition Fund Management LLC’s holdings in Avis Budget Group were worth $359,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of CAR. FNY Managed Accounts LLC purchased a new stake in shares of Avis Budget Group in the third quarter worth about $160,000. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Avis Budget Group in the fourth quarter worth about $171,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Avis Budget Group by 1,413.3% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,540 shares of the business services provider’s stock worth $172,000 after buying an additional 4,240 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Avis Budget Group by 43.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,117 shares of the business services provider’s stock worth $181,000 after buying an additional 1,242 shares during the last quarter. Finally, Delpha Capital Management LLC purchased a new stake in shares of Avis Budget Group in the fourth quarter worth about $181,000.
A number of brokerages have recently commented on CAR. BidaskClub upgraded Avis Budget Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 16th. Zacks Investment Research upgraded Avis Budget Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 27th. Deutsche Bank upped their target price on Avis Budget Group from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Goldman Sachs downgraded Avis Budget Group from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $40.12 to $33.00 in a research note on Wednesday, February 14th. Finally, ValuEngine upgraded Avis Budget Group from a “hold” rating to a “buy” rating in a research note on Monday, December 11th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $37.60.
Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings results on Wednesday, February 21st. The business services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.25. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2 billion. Avis Budget Group had a return on equity of 76.64% and a net margin of 4.08%. Avis Budget Group’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.15 EPS. analysts forecast that Avis Budget Group Inc. will post 3.27 earnings per share for the current fiscal year.
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Avis Budget Group Company Profile
Avis Budget Group Inc is a provider of vehicle rental and car sharing services. The Company operates three brands, which include Avis, Budget and Zipcar. Avis and Budget are a rental car supplier. It also owns Payless, which a car rental brand; Apex, which is a car rental brand in New Zealand and Australia; Maggiore, a vehicle rental brand in Italy, and France Cars, which operates light commercial vehicle fleets in France.
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