Avis Budget Group, Inc. (NASDAQ:CAR) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC lessened its stake in Avis Budget Group, Inc. (NASDAQ:CAR) by 7.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,482 shares of the business services provider’s stock after selling 726 shares during the quarter. Yousif Capital Management LLC’s holdings in Avis Budget Group were worth $1,681,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CAR. Huntington National Bank grew its position in Avis Budget Group by 101.0% in 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 period. CWM LLC boosted its position in shares of Avis Budget Group by 248.2% during the third quarter. CWM LLC now owns 491 shares of the business services provider’s stock worth $88,000 after buying an additional 350 shares during the period. Covestor Ltd boosted its position in shares of Avis Budget Group by 733.9% during the third quarter. Covestor Ltd now owns 517 shares of the business services provider’s stock worth $93,000 after buying an additional 455 shares during the period. C M Bidwell & Associates Ltd. boosted its position in shares of Avis Budget Group by 181.5% during the third quarter. C M Bidwell & Associates Ltd. now owns 881 shares of the business services provider’s stock worth $158,000 after buying an additional 568 shares during the period. Finally, Teza Capital Management LLC purchased a new position in shares of Avis Budget Group during the third quarter worth $214,000. Institutional investors and hedge funds own 96.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CAR shares. Bank of America lowered their price target on Avis Budget Group from $170.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday. Susquehanna lowered their price target on Avis Budget Group from $145.00 to $117.00 and set a “neutral” rating for the company in a research report on Tuesday. StockNews.com upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. The Goldman Sachs Group upgraded Avis Budget Group from a “sell” rating to a “neutral” rating and increased their price objective for the company from $118.00 to $130.00 in a research note on Thursday, April 4th. Finally, Morgan Stanley reduced their price objective on Avis Budget Group from $190.00 to $187.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $164.57.

Avis Budget Group Price Performance

Shares of Avis Budget Group stock opened at $94.75 on Thursday. Avis Budget Group, Inc. has a 1 year low of $93.53 and a 1 year high of $244.95. The company has a market capitalization of $3.38 billion, a P/E ratio of 2.22 and a beta of 2.22. The business has a 50 day moving average price of $111.15 and a 200 day moving average price of $151.21.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings data 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 company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.41 billion. Avis Budget Group had a negative return on equity of 696.69% and a net margin of 13.59%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $7.72 earnings per share. As a group, research analysts expect that Avis Budget Group, Inc. will post 14.73 EPS for the current fiscal year.

About Avis Budget Group

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.