Edgestream Partners L.P. Acquires Shares of 13,235 Avis Budget Group, Inc. (NASDAQ:CAR)

Edgestream Partners L.P. acquired a new position in Avis Budget Group, Inc. (NASDAQ:CAR) during the fourth quarter, HoldingsChannel reports. The fund acquired 13,235 shares of the business services provider’s stock, valued at approximately $1,067,000.

Several other large investors also recently made changes to their positions in CAR. Barclays PLC raised its holdings in Avis Budget Group by 30.5% during the 3rd quarter. Barclays PLC now owns 200,576 shares of the business services provider’s stock worth $17,571,000 after purchasing an additional 46,922 shares during the last quarter. Wolverine Asset Management LLC raised its stake in shares of Avis Budget Group by 93.4% during the third quarter. Wolverine Asset Management LLC now owns 16,771 shares of the business services provider’s stock worth $1,469,000 after buying an additional 8,100 shares during the last quarter. State Street Corp lifted its holdings in Avis Budget Group by 2.5% in the third quarter. State Street Corp now owns 672,227 shares of the business services provider’s stock valued at $58,880,000 after buying an additional 16,221 shares during the period. Algert Global LLC boosted its stake in Avis Budget Group by 123.8% in the third quarter. Algert Global LLC now owns 22,745 shares of the business services provider’s stock valued at $1,992,000 after acquiring an additional 12,580 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Avis Budget Group by 10.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 185,801 shares of the business services provider’s stock worth $16,274,000 after acquiring an additional 17,666 shares during the period. Institutional investors own 96.35% of the company’s stock.

Analyst Ratings Changes

CAR has been the topic of a number of analyst reports. The Goldman Sachs Group increased 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. Northcoast Research downgraded Avis Budget Group from a “buy” rating to a “neutral” rating in a report on Monday, November 18th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $133.75.

Avis Budget Group Stock Down 10.9 %

CAR opened at $63.79 on Wednesday. The stock has a market cap of $2.24 billion, a P/E ratio of -1.23 and a beta of 2.37. Avis Budget Group, Inc. has a 12 month low of $61.41 and a 12 month high of $132.25. The company has a fifty day simple moving average of $85.73 and a 200 day simple moving average of $87.30.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings results on Tuesday, February 11th. The business services provider reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.27. Avis Budget Group had a negative return on equity of 14.74% and a negative net margin of 15.45%. On average, equities research analysts expect that Avis Budget Group, Inc. will post 8.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Avis Budget Group

In other news, Director Lynn Krominga sold 661 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $95.00, for a total value of $62,795.00. Following the sale, the director now directly owns 3,355 shares in the company, valued at $318,725. The trade was a 16.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 52.00% of the company’s stock.

Avis Budget Group Company 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.