Avis Budget Group, Inc. (NASDAQ:CAR) Shares Acquired by Sei Investments Co.

Sei Investments Co. increased its holdings in Avis Budget Group, Inc. (NASDAQ:CAR) by 47.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,010 shares of the business services provider’s stock after purchasing an additional 9,697 shares during the quarter. Sei Investments Co.’s holdings in Avis Budget Group were worth $2,343,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. K.J. Harrison & Partners Inc acquired a new stake in Avis Budget Group in the first quarter valued at approximately $3,735,000. Principal Financial Group Inc. grew its holdings in Avis Budget Group by 13.8% during the 1st quarter. Principal Financial Group Inc. now owns 185,403 shares of the business services provider’s stock worth $13,449,000 after acquiring an additional 22,421 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Avis Budget Group during the 2nd quarter valued at about $229,000. Quantitative Investment Management LLC acquired a new position in Avis Budget Group during the 1st quarter valued at about $314,000. Finally, Prudential Financial Inc. increased its stake in Avis Budget Group by 3.9% during the 1st quarter. Prudential Financial Inc. now owns 10,143 shares of the business services provider’s stock worth $736,000 after purchasing an additional 380 shares in the last quarter.

Shares of NASDAQ CAR opened at $98.79 on Friday. The company has a debt-to-equity ratio of 159.62, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $6.57 billion, a P/E ratio of 38.89, a price-to-earnings-growth ratio of 0.11 and a beta of 2.34. Avis Budget Group, Inc. has a 1 year low of $25.54 and a 1 year high of $100.01. The firm’s 50 day moving average price is $84.84 and its 200 day moving average price is $80.69.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings results on Monday, August 2nd. The business services provider reported $5.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $4.69. Avis Budget Group had a net margin of 2.76% and a negative return on equity of 385.05%. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.08 billion. As a group, equities analysts predict that Avis Budget Group, Inc. will post 13.73 EPS for the current year.

A number of equities research analysts have recently weighed in on the company. Morgan Stanley lifted their target price on Avis Budget Group from $73.00 to $85.00 and gave the stock an “equal weight” rating in a report on Monday, June 14th. TheStreet upgraded Avis Budget Group from a “d+” rating to a “c” rating in a research note on Tuesday, August 3rd. Deutsche Bank Aktiengesellschaft increased their price objective on Avis Budget Group from $75.00 to $91.00 and gave the company a “hold” rating in a research report on Monday, August 2nd. Bank of America upgraded Avis Budget Group from a “neutral” rating to a “buy” rating and raised their target price for the company from $90.00 to $125.00 in a research note on Thursday. Finally, JPMorgan Chase & Co. raised Avis Budget Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $75.00 to $100.00 in a report on Thursday, August 5th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $93.17.

Avis Budget Group Company Profile

Avis Budget Group, Inc engages in the provision of vehicle sharing and rental services. It operates through the Americas and International segments. The Americas segment licenses the company’s brands to third parties for vehicle rentals and ancillary products and services in North America, South America, Central America, and the Caribbean.

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

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