Avis Budget Group, Inc. (NASDAQ:CAR) Stake Increased by Oxinas Partners Wealth Management LLC

Oxinas Partners Wealth Management LLC increased its holdings in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 204.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 6,390 shares of the business services provider’s stock after purchasing an additional 4,290 shares during the quarter. Oxinas Partners Wealth Management LLC’s holdings in Avis Budget Group were worth $783,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Par Capital Management Inc. grew its holdings in shares of Avis Budget Group by 16.1% during the 4th quarter. Par Capital Management Inc. now owns 848,959 shares of the business services provider’s stock valued at $150,486,000 after acquiring an additional 117,600 shares in the last quarter. Hsbc Holdings PLC boosted its position in Avis Budget Group by 11.1% during the fourth quarter. Hsbc Holdings PLC now owns 403,279 shares of the business services provider’s stock valued at $71,305,000 after purchasing an additional 40,314 shares during the last quarter. Hudson Bay Capital Management LP purchased a new position in Avis Budget Group in the third quarter valued at about $62,892,000. Massachusetts Financial Services Co. MA increased its position in Avis Budget Group by 47.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 327,275 shares of the business services provider’s stock worth $58,013,000 after purchasing an additional 105,867 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Avis Budget Group by 18.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 296,355 shares of the business services provider’s stock worth $52,534,000 after purchasing an additional 46,021 shares in the last quarter. 96.35% of the stock is owned by hedge funds and other institutional investors.

Avis Budget Group Price Performance

NASDAQ:CAR traded up $3.75 during midday trading on Tuesday, reaching $105.03. The stock had a trading volume of 433,348 shares, compared to its average volume of 769,338. The stock has a market capitalization of $3.74 billion, a P/E ratio of 3.32 and a beta of 2.21. Avis Budget Group, Inc. has a 1-year low of $93.53 and a 1-year high of $244.95. The firm’s fifty day simple moving average is $110.81 and its 200-day simple moving average is $128.86.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings results on Wednesday, May 1st. The business services provider reported ($3.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.65) by ($0.56). The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.41 billion. Avis Budget Group had a net margin of 10.05% and a negative return on equity of 480.48%. The company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the prior year, the business posted $7.72 earnings per share. On average, equities research analysts anticipate that Avis Budget Group, Inc. will post 12.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CAR has been the subject of several recent research reports. Northcoast Research raised Avis Budget Group from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a research note on Monday, March 25th. Susquehanna dropped their price target on shares of Avis Budget Group from $145.00 to $117.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 30th. Morgan Stanley reduced their price objective on shares of Avis Budget Group from $190.00 to $187.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th. StockNews.com cut shares of Avis Budget Group from a “hold” rating to a “sell” rating in a report on Wednesday, June 26th. Finally, Bank of America cut their target price on Avis Budget Group from $170.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.