Mizuho Markets Americas LLC lifted its stake in shares of Avis Budget Group, Inc. (NASDAQ:CAR – Free Report) by 49.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 372,500 shares of the business services provider’s stock after acquiring an additional 122,500 shares during the period. Avis Budget Group makes up about 0.9% of Mizuho Markets Americas LLC’s holdings, making the stock its 24th largest holding. Mizuho Markets Americas LLC’s holdings in Avis Budget Group were worth $47,799,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Deseret Mutual Benefit Administrators boosted its position in Avis Budget Group by 102.3% during the third quarter. Deseret Mutual Benefit Administrators now owns 174 shares of the business services provider’s stock worth $28,000 after purchasing an additional 88 shares during the period. Hantz Financial Services Inc. lifted its stake in shares of Avis Budget Group by 136.4% in the third quarter. Hantz Financial Services Inc. now owns 253 shares of the business services provider’s stock worth $41,000 after buying an additional 146 shares during the last quarter. American Wealth Advisors LLC bought a new stake in shares of Avis Budget Group during the 3rd quarter worth $41,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Avis Budget Group by 26.5% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 363 shares of the business services provider’s stock worth $58,000 after buying an additional 76 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in Avis Budget Group by 19.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 427 shares of the business services provider’s stock valued at $72,000 after buying an additional 70 shares during the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the stock. The Goldman Sachs Group set a $85.00 target price on shares of Avis Budget Group in a research report on Monday, February 23rd. Barclays dropped their price objective on Avis Budget Group from $150.00 to $140.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 5th. JPMorgan Chase & Co. decreased their target price on Avis Budget Group from $165.00 to $140.00 and set an “underweight” rating for the company in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $125.00 target price on shares of Avis Budget Group in a report on Friday, May 1st. Finally, Jefferies Financial Group downgraded Avis Budget Group from a “buy” rating to a “hold” rating and lifted their price target for the stock from $112.00 to $160.00 in a research report on Friday, May 1st. Five investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $125.25.
Insider Activity at Avis Budget Group
In other Avis Budget Group news, EVP Edward P. Linnen sold 9,483 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $182.32, for a total value of $1,728,940.56. Following the completion of the transaction, the executive vice president owned 37,932 shares of the company’s stock, valued at $6,915,762.24. This represents a 20.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ravi Simhambhatla sold 3,469 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $184.09, for a total value of $638,608.21. Following the completion of the sale, the executive vice president owned 13,876 shares of the company’s stock, valued at $2,554,432.84. This represents a 20.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 16,299 shares of company stock worth $3,836,012 over the last three months. Company insiders own 50.48% of the company’s stock.
Avis Budget Group Price Performance
NASDAQ CAR opened at $167.05 on Friday. The company’s fifty day moving average is $213.94 and its two-hundred day moving average is $154.86. Avis Budget Group, Inc. has a 52-week low of $85.96 and a 52-week high of $847.70. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of -8.77 and a beta of 1.91.
Avis Budget Group (NASDAQ:CAR – Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The business services provider reported ($8.01) EPS for the quarter, missing analysts’ consensus estimates of ($6.82) by ($1.19). The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the prior year, the company earned ($14.35) earnings per share. The business’s revenue was up 4.1% compared to the same quarter last year. As a group, sell-side analysts expect that Avis Budget Group, Inc. will post 3.17 earnings per share for the current fiscal year.
About Avis Budget Group
Avis Budget Group, Inc operates as a leading global provider of vehicle rental and mobility solutions. Through its two core brands, Avis® and Budget®, the company offers a broad range of rental options including daily, weekly and monthly car rentals for leisure and business travelers. In addition to traditional airport and off-airport car rental services, Avis Budget Group delivers innovative mobility platforms such as car-sharing programs and connected fleet solutions designed to meet the evolving needs of corporate, government and individual customers.
The company’s roots trace back to Avis Rent a Car, founded in 1946, and Budget Rent a Car, established in 1958.
Featured Articles
- Five stocks we like better than Avis Budget Group
- SpaceX IPO: Opportunity? Or the Ultimate Hype Trade?
- CAVA Group’s Stock Looks Delicious After Strong Earnings
- Lowe’s Finds Support at $215 After Q1 Earnings Sell-Off
- Deere Beats Q2 Estimates, But Ag Weakness Weighs on Outlook
Want to see what other hedge funds are holding CAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avis Budget Group, Inc. (NASDAQ:CAR – Free Report).
Receive News & Ratings for Avis Budget Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avis Budget Group and related companies with MarketBeat.com's FREE daily email newsletter.
