Great Valley Advisor Group Inc. Raises Stake in Avis Budget Group, Inc. (NASDAQ:CAR)

Great Valley Advisor Group Inc. raised its position in Avis Budget Group, Inc. (NASDAQ:CAR) by 10.2% during the third quarter, HoldingsChannel reports. The firm owned 18,659 shares of the business services provider’s stock after buying an additional 1,725 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Avis Budget Group were worth $1,635,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. EntryPoint Capital LLC boosted its holdings in Avis Budget Group by 119.2% in the first quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 124 shares in the last quarter. SummerHaven Investment Management LLC boosted its holdings in shares of Avis Budget Group by 4.5% in the 2nd quarter. SummerHaven Investment Management LLC now owns 3,223 shares of the business services provider’s stock valued at $337,000 after buying an additional 138 shares in the last quarter. Strategic Investment Solutions Inc. IL boosted its holdings in shares of Avis Budget Group by 198.3% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider’s stock valued at $32,000 after buying an additional 240 shares in the last quarter. Central Valley Advisors LLC purchased a new position in shares of Avis Budget Group in the 2nd quarter valued at $25,000. Finally, Algert Global LLC raised its stake in Avis Budget Group by 2.5% during the 2nd quarter. Algert Global LLC now owns 10,165 shares of the business services provider’s stock worth $1,062,000 after acquiring an additional 245 shares in the last quarter. 96.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CAR has been the topic of several research reports. JPMorgan Chase & Co. dropped their price objective on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. StockNews.com raised Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Susquehanna reduced their price objective on Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Barclays assumed coverage on shares of Avis Budget Group in a research report on Thursday, September 19th. They set an “equal weight” rating and a $105.00 target price on the stock. Finally, Northcoast Research downgraded shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a research report on Monday, November 18th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Avis Budget Group currently has a consensus rating of “Hold” and an average price target of $133.13.

Avis Budget Group Price Performance

Avis Budget Group stock opened at $102.67 on Monday. The business has a 50 day simple moving average of $88.57 and a 200-day simple moving average of $95.93. Avis Budget Group, Inc. has a 12 month low of $65.73 and a 12 month high of $204.77. The stock has a market capitalization of $3.61 billion, a PE ratio of 9.38 and a beta of 2.14.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings data on Thursday, October 31st. The business services provider reported $6.65 EPS for the quarter, missing analysts’ consensus estimates of $8.55 by ($1.90). The firm had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.53 billion. Avis Budget Group had a negative return on equity of 101.41% and a net margin of 3.34%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $16.78 EPS. As a group, equities research analysts anticipate that Avis Budget Group, Inc. will post 5.24 EPS for the current year.

Avis Budget Group Profile

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.