Inspire Investing LLC Buys 301 Shares of Avis Budget Group, Inc. (NASDAQ:CAR)

Inspire Investing LLC raised its stake in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 6.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,984 shares of the business services provider’s stock after purchasing an additional 301 shares during the period. Inspire Investing LLC’s holdings in Avis Budget Group were worth $402,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CAR. SG Americas Securities LLC increased its stake in Avis Budget Group by 234.5% in the 4th quarter. SG Americas Securities LLC now owns 32,325 shares of the business services provider’s stock worth $2,606,000 after buying an additional 22,660 shares in the last quarter. Diversify Advisory Services LLC bought a new position in shares of Avis Budget Group in the fourth quarter worth about $254,000. Assenagon Asset Management S.A. grew its position in shares of Avis Budget Group by 139.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 379,805 shares of the business services provider’s stock worth $30,616,000 after purchasing an additional 221,456 shares in the last quarter. GAMMA Investing LLC raised its stake in Avis Budget Group by 118.8% during the 4th quarter. GAMMA Investing LLC now owns 337 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 183 shares during the period. Finally, B. Riley Wealth Advisors Inc. purchased a new position in Avis Budget Group in the 3rd quarter worth approximately $263,000. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Avis Budget Group Stock Down 1.0 %

Shares of CAR opened at $90.02 on Friday. The business has a fifty day moving average of $92.02 and a 200 day moving average of $89.65. The company has a market cap of $3.16 billion, a PE ratio of 8.22 and a beta of 2.25. Avis Budget Group, Inc. has a 52-week low of $65.73 and a 52-week high of $176.79.

Avis Budget Group (NASDAQ:CAR) last released its earnings results on Thursday, October 31st. The business services provider reported $6.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.55 by ($1.90). The firm had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.53 billion. Avis Budget Group had a negative return on equity of 101.41% and a net margin of 3.34%. Avis Budget Group’s revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $16.78 EPS. As a group, research analysts anticipate that Avis Budget Group, Inc. will post 3.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CAR shares. Northcoast Research cut shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a research report on Monday, November 18th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Avis Budget Group from $145.00 to $143.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. The Goldman Sachs Group lifted their target price on Avis Budget Group from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. StockNews.com raised Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. reduced their price objective on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $133.75.

About Avis Budget Group

Avis Budget Group, Inc engages in the provision of vehicle sharing and rental services. It operates through the following segments: Americas, International, and Corporate and Other. The Americas segment includes the vehicle rental and car sharing operations in North America, South America, Central America, and the Caribbean.