Capstone Investment Advisors LLC Purchases New Position in Avis Budget Group, Inc. (NASDAQ:CAR)

Capstone Investment Advisors LLC acquired a new position in shares of Avis Budget Group, Inc. (NASDAQ:CAR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,897 shares of the business services provider’s stock, valued at approximately $341,000.

Other institutional investors have also modified their holdings of the company. FMR LLC increased its position in Avis Budget Group by 4.0% during the third quarter. FMR LLC now owns 3,354,546 shares of the business services provider’s stock worth $293,825,000 after buying an additional 129,805 shares during the period. Algert Global LLC grew its position in shares of Avis Budget Group by 123.8% during the third quarter. Algert Global LLC now owns 22,745 shares of the business services provider’s stock worth $1,992,000 after acquiring an additional 12,580 shares during the last quarter. Great Valley Advisor Group Inc. increased its holdings in shares of Avis Budget Group by 10.2% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 18,659 shares of the business services provider’s stock valued at $1,635,000 after acquiring an additional 1,725 shares during the period. Charles Schwab Investment Management Inc. raised its position in Avis Budget Group by 10.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 185,801 shares of the business services provider’s stock valued at $16,274,000 after purchasing an additional 17,666 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Avis Budget Group by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 592,341 shares of the business services provider’s stock worth $51,883,000 after purchasing an additional 2,561 shares during the period. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CAR shares. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Avis Budget Group from $145.00 to $143.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. StockNews.com upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. Northcoast Research cut Avis Budget Group from a “buy” rating to a “neutral” rating in a research note on Monday, November 18th. Barclays initiated coverage on shares of Avis Budget Group in a research report on Thursday, September 19th. They issued an “equal weight” rating and a $105.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut their price objective on shares of Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $133.13.

Avis Budget Group Stock Up 0.2 %

Shares of NASDAQ CAR opened at $109.07 on Friday. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of 9.96 and a beta of 2.14. Avis Budget Group, Inc. has a 52 week low of $65.73 and a 52 week high of $204.77. The firm has a 50-day moving average price of $91.02 and a 200 day moving average price of $95.67.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings results on Thursday, October 31st. The business services provider reported $6.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.55 by ($1.90). Avis Budget Group had a net margin of 3.34% and a negative return on equity of 101.41%. The company had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.53 billion. During the same quarter in the previous year, the business posted $16.78 earnings per share. Avis Budget Group’s revenue was down 2.4% on a year-over-year basis. Equities research analysts expect that Avis Budget Group, Inc. will post 3.59 EPS for the current fiscal 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.