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

Great Valley Advisor Group Inc. increased its position in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 197.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,180 shares of the business services provider’s stock after buying an additional 6,756 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Avis Budget Group were worth $1,805,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CAR. Huntington National Bank grew its position in shares of Avis Budget Group by 101.0% during the third quarter. Huntington National Bank now owns 209 shares of the business services provider’s stock worth $38,000 after acquiring an additional 105 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Avis Budget Group during the 4th quarter worth $79,000. Covestor Ltd grew its position in Avis Budget Group by 733.9% during the 3rd quarter. Covestor Ltd now owns 517 shares of the business services provider’s stock worth $93,000 after purchasing an additional 455 shares during the last quarter. C M Bidwell & Associates Ltd. raised its holdings in shares of Avis Budget Group by 181.5% in the third quarter. C M Bidwell & Associates Ltd. now owns 881 shares of the business services provider’s stock valued at $158,000 after buying an additional 568 shares during the last quarter. Finally, Teza Capital Management LLC acquired a new stake in shares of Avis Budget Group during the third quarter worth about $214,000. Institutional investors and hedge funds own 96.35% of the company’s stock.

Avis Budget Group Trading Up 20.1 %

Shares of CAR opened at $113.77 on Friday. Avis Budget Group, Inc. has a twelve month low of $93.53 and a twelve month high of $244.95. The firm has a market capitalization of $4.06 billion, a P/E ratio of 3.59 and a beta of 2.28. The firm’s 50-day moving average is $111.42 and its two-hundred day moving average is $150.95.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings results on Wednesday, May 1st. The business services provider reported ($3.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.65) by ($0.56). The firm had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.41 billion. Avis Budget Group had a negative return on equity of 729.43% and a net margin of 10.05%. The business’s revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.72 EPS. Analysts predict that Avis Budget Group, Inc. will post 13.55 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. The Goldman Sachs Group raised Avis Budget Group from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $118.00 to $130.00 in a research report on Thursday, April 4th. Northcoast Research upgraded 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. JPMorgan Chase & Co. cut their price objective on shares of Avis Budget Group from $280.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, February 14th. StockNews.com downgraded shares of Avis Budget Group from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Bank of America dropped their price target on shares of Avis Budget Group from $170.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Avis Budget Group presently has a consensus rating of “Moderate Buy” and an average target price of $164.57.

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.