JAT Capital Mgmt LP Has $16.19 Million Stock Holdings in Avis Budget Group, Inc. (NASDAQ:CAR)

JAT Capital Mgmt LP lowered its position in Avis Budget Group, Inc. (NASDAQ:CAR) by 49.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 200,876 shares of the business services provider’s stock after selling 197,294 shares during the period. Avis Budget Group accounts for 2.6% of JAT Capital Mgmt LP’s portfolio, making the stock its 12th largest holding. JAT Capital Mgmt LP owned about 0.57% of Avis Budget Group worth $16,193,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Amalgamated Bank lifted its holdings in shares of Avis Budget Group by 2.0% in the fourth quarter. Amalgamated Bank now owns 7,973 shares of the business services provider’s stock worth $643,000 after acquiring an additional 155 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Avis Budget Group by 118.8% in the 4th quarter. GAMMA Investing LLC now owns 337 shares of the business services provider’s stock worth $27,000 after acquiring an additional 183 shares during the last quarter. Yousif Capital Management LLC increased its stake in Avis Budget Group by 2.5% in the 4th quarter. Yousif Capital Management LLC now owns 7,592 shares of the business services provider’s stock valued at $612,000 after buying an additional 187 shares during the last quarter. Quadrant Capital Group LLC grew its position in shares of Avis Budget Group by 41.0% during the 4th quarter. Quadrant Capital Group LLC now owns 681 shares of the business services provider’s stock valued at $55,000 after acquiring an additional 198 shares during the period. Finally, Sterling Capital Management LLC boosted its holdings in Avis Budget Group by 41.3% in the 4th quarter. Sterling Capital Management LLC now owns 736 shares of the business services provider’s stock worth $59,000 after buying an additional 215 shares during the period. Institutional investors own 96.35% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut Avis Budget Group from a “hold” rating to a “sell” rating in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $121.33.

Insider Activity

In other news, Director Lynn Krominga sold 1,405 shares of Avis Budget Group stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $95.00, for a total value of $133,475.00. Following the transaction, the director now owns 1,950 shares of the company’s stock, valued at $185,250. The trade was a 41.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 52.80% of the company’s stock.

Avis Budget Group Stock Performance

CAR stock opened at $91.76 on Wednesday. The firm has a market cap of $3.23 billion, a PE ratio of -1.77 and a beta of 2.05. Avis Budget Group, Inc. has a one year low of $54.03 and a one year high of $132.25. The firm’s 50 day moving average price is $73.49 and its 200-day moving average price is $84.74.

Avis Budget Group (NASDAQ:CAR) last posted its 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%. Equities research analysts predict that Avis Budget Group, Inc. will post 8.91 EPS for the current fiscal year.

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.