Caxton Associates LP Buys Shares of 3,192 Avis Budget Group, Inc. (NASDAQ:CAR)

Caxton Associates LP bought a new stake in Avis Budget Group, Inc. (NASDAQ:CAR) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,192 shares of the business services provider’s stock, valued at approximately $391,000.

A number of other institutional investors have also recently made changes to their positions in CAR. Denali Advisors LLC grew its stake in Avis Budget Group by 94.1% during the 1st quarter. Denali Advisors LLC now owns 231 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 112 shares in the last quarter. EntryPoint Capital LLC lifted its position in Avis Budget Group by 119.2% during the first quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider’s stock worth $28,000 after buying an additional 124 shares in the last quarter. TFO Wealth Partners LLC boosted its stake in Avis Budget Group by 15,550.0% during the fourth quarter. TFO Wealth Partners LLC now owns 313 shares of the business services provider’s stock worth $55,000 after buying an additional 311 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Avis Budget Group in the 4th quarter valued at $79,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Avis Budget Group by 55.8% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 905 shares of the business services provider’s stock worth $111,000 after acquiring an additional 324 shares during the last quarter. 96.35% of the stock is owned by institutional investors and hedge funds.

Avis Budget Group Trading Down 2.5 %

Avis Budget Group stock traded down $2.54 during trading on Tuesday, hitting $98.24. The company had a trading volume of 122,107 shares, compared to its average volume of 732,405. Avis Budget Group, Inc. has a 1-year low of $93.53 and a 1-year high of $235.64. The company’s 50 day simple moving average is $107.39 and its 200-day simple moving average is $119.29. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 3.18 and a beta of 2.21.

Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Wednesday, May 1st. The business services provider reported ($3.21) earnings per share for the quarter, missing the consensus estimate of ($2.65) by ($0.56). Avis Budget Group had a net margin of 10.05% and a negative return on equity of 480.48%. The company had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the business posted $7.72 EPS. The firm’s revenue for the quarter was down .2% on a year-over-year basis. As a group, analysts forecast that Avis Budget Group, Inc. will post 12.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Bank of America lowered their price target on shares of Avis Budget Group from $170.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. The Goldman Sachs Group dropped their price target on shares of Avis Budget Group from $140.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Susquehanna cut their price target on shares of Avis Budget Group from $145.00 to $117.00 and set a “neutral” rating for the company in a report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Avis Budget Group from $202.00 to $183.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Finally, Morgan Stanley cut their price target on shares of Avis Budget Group from $190.00 to $187.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.14.

About Avis Budget Group

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.