Inspire Investing LLC Makes New Investment in Avis Budget Group, Inc. (NASDAQ:CAR)


Inspire Investing LLC acquired a new position in Avis Budget Group, Inc. (NASDAQ:CAR – Get Rating ) during the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 898 shares of the business services provider’s stock, valued at approximately $236,000.

Several other hedge funds also recently made changes to their positions in CAR. Canada Pension Plan Investment Board boosted its holdings in shares of Avis Budget Group by 224.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,299,208 shares of the business services provider’s stock valued at $269,417,000 after buying an additional 899,208 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Avis Budget Group in the 4th quarter valued at approximately $50,677,000. JPMorgan Chase & Co. grew its holdings in shares of Avis Budget Group by 1,627.7% during the 4th quarter. JPMorgan Chase & Co. now owns 137,546 shares of the business services provider’s stock valued at $28,522,000 after purchasing an additional 129,585 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Avis Budget Group by 952.3% during the 4th quarter. SG Americas Securities LLC now owns 133,358 shares of the business services provider’s stock valued at $27,654,000 after buying an additional 120,685 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Avis Budget Group by 0.9% during the 4th quarter. First Trust Advisors LP now owns 66,534 shares of the business services provider’s stock valued at $13,797,000 after buying an additional 591 shares during the last quarter.

In related news, Chairman Bernardo Hees bought 28,334 shares of Avis Budget Group stock in a transaction dated Tuesday, May 24th. The shares were acquired at an average price of $172.78 per share, for a total transaction of $4,895,548.52. Following the transaction, the chairman now directly owns 450,476 shares of the company’s stock, valued at $77,833,243.28. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which is available at this link. Insiders acquired a total of 83,734 shares of company stock worth $14,792,435 in the last quarter. Corporate insiders own 37.30% of the company’s shares.

Shares of CAR stock opened at $156.98 on Friday. The firm has a market cap of $7.58 billion, a price-to-earnings ratio of 4.84, a PEG ratio of 0.20 and a beta of 2.11. The business’s fifty day moving average is $190.15 and its two hundred day moving average is $208.62. Avis Budget Group, Inc. has a 52-week low of $65.87 and a 52-week high of $545.11.

Avis Budget Group (NASDAQ:CAR – Get Rating ) last announced its quarterly earnings data on Monday, May 2nd. The business services provider reported $9.99 EPS for the quarter, topping analysts’ consensus estimates of $3.54 by $6.45. The firm had revenue of $2.43 billion for the quarter, compared to analysts’ estimates of $2.18 billion. Avis Budget Group has a negative return on equity of 635.44% and a net margin of 19.13%. During the same period last year, the company earned ($0.46) EPS. On average, equities analysts predict that Avis Budget Group, Inc. will post 39.29 earnings per share for the current fiscal year.

A number of equities analysts recently issued reports on CAR shares. StockNews.com lowered Avis Budget Group from a “buy” rating to a “hold” rating in a report on Wednesday. Barclays reduced their price objective on Avis Budget Group from $223.00 to $158.00 and set an “equal weight” rating for the company in a report on Tuesday. Morgan Stanley decreased their price objective on Avis Budget Group from $168.00 to $156.00 and set an “underweight” rating for the company in a report on Tuesday, June 7th. Bank of America downgraded Avis Budget Group from a “neutral” rating to an “underperform” rating and cut their target price for the company from $250.00 to $240.00 in a report on Wednesday, April 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Avis Budget Group from $193.00 to $238.00 in a report on Wednesday, May 4th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat , Avis Budget Group currently has an average rating of “Hold” and an average target price of $196.40.

About Avis Budget Group (Get Rating)

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rental, car sharing and ancillary products and services to businesses and consumers. It operates the Avis brand, which offers rental vehicles and other mobility solutions to the premium business and leisure segments of the travel industry; the Budget Truck brand, a local one-way truck and van rental business with a fleet of approximately 20,000 vehicles that are rented through a network of approximately 465 dealer-operated and 385 company-operated locations that serve consumers and light commercial customers sectors in the continental United States; and the Zipcar brand, a car-sharing network.

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Institutional Ownership by Quarter for Avis Budget Group (NASDAQ:CAR)



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