Duality Advisers LP Takes $794,000 Position in Avis Budget Group, Inc. (NASDAQ:CAR)

Duality Advisers LP acquired a new stake in shares of Avis Budget Group, Inc. (NASDAQ:CAR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,480 shares of the business services provider’s stock, valued at approximately $794,000.

A number of other hedge funds have also recently made changes to their positions in CAR. UBS Group AG lifted its position in shares of Avis Budget Group by 33.3% during the third quarter. UBS Group AG now owns 72,683 shares of the business services provider’s stock valued at $13,060,000 after purchasing an additional 18,167 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Avis Budget Group by 165.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 25,571 shares of the business services provider’s stock valued at $4,595,000 after purchasing an additional 15,943 shares in the last quarter. Campbell & CO Investment Adviser LLC lifted its position in shares of Avis Budget Group by 274.9% during the third quarter. Campbell & CO Investment Adviser LLC now owns 8,502 shares of the business services provider’s stock valued at $1,528,000 after purchasing an additional 6,234 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Avis Budget Group during the fourth quarter valued at about $12,317,000. Finally, Nisa Investment Advisors LLC raised its position in Avis Budget Group by 1,345.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,515 shares of the business services provider’s stock worth $446,000 after acquiring an additional 2,341 shares during the period. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Avis Budget Group Trading Up 0.7 %

Avis Budget Group stock opened at $103.30 on Thursday. The firm’s 50 day simple moving average is $112.32 and its 200 day simple moving average is $154.03. The firm has a market capitalization of $3.68 billion, a PE ratio of 2.42 and a beta of 2.22. Avis Budget Group, Inc. has a 1-year low of $98.84 and a 1-year high of $244.95.

Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Tuesday, February 13th. The business services provider reported $7.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.15 by $2.95. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.81 billion. Avis Budget Group had a net margin of 13.59% and a negative return on equity of 696.69%. Avis Budget Group’s revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $10.46 EPS. Research analysts forecast that Avis Budget Group, Inc. will post 14.73 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Northcoast Research raised shares of Avis Budget Group from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a research report on Monday, March 25th. Bank of America assumed coverage on shares of Avis Budget Group in a research report on Tuesday, March 19th. They issued a “buy” rating and a $170.00 price objective on the stock. Susquehanna lowered their price objective on shares of Avis Budget Group from $195.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 14th. The Goldman Sachs Group raised shares of Avis Budget Group from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $118.00 to $130.00 in a research report on Thursday, April 4th. Finally, StockNews.com upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Avis Budget Group presently has a consensus rating of “Moderate Buy” and an average target price of $172.86.

Avis Budget Group Company 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.