Charles Schwab Investment Management Inc. Boosts Holdings in Avis Budget Group, Inc. (NASDAQ:CAR)

Charles Schwab Investment Management Inc. raised its position in Avis Budget Group, Inc. (NASDAQ:CAR) by 9.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 203,274 shares of the business services provider’s stock after purchasing an additional 17,473 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Avis Budget Group were worth $16,386,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. US Bancorp DE grew its stake in Avis Budget Group by 9.6% in the 4th quarter. US Bancorp DE now owns 2,984 shares of the business services provider’s stock worth $241,000 after buying an additional 261 shares in the last quarter. Amalgamated Bank grew its position in Avis Budget Group by 2.0% in the fourth quarter. Amalgamated Bank now owns 7,973 shares of the business services provider’s stock worth $643,000 after acquiring an additional 155 shares in the last quarter. Wolverine Asset Management LLC increased its stake in Avis Budget Group by 870.6% in the fourth quarter. Wolverine Asset Management LLC now owns 162,771 shares of the business services provider’s stock valued at $13,121,000 after acquiring an additional 146,000 shares during the last quarter. ING Groep NV raised its position in Avis Budget Group by 310.4% during the fourth quarter. ING Groep NV now owns 325,000 shares of the business services provider’s stock valued at $26,198,000 after purchasing an additional 245,800 shares in the last quarter. Finally, Alberta Investment Management Corp bought a new stake in Avis Budget Group during the fourth quarter worth about $2,999,000. Institutional investors own 96.35% of the company’s stock.

Insider Buying and Selling at Avis Budget Group

In related news, Director Lynn Krominga sold 661 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $95.00, for a total value of $62,795.00. Following the sale, the director now directly owns 3,355 shares of the company’s stock, valued at $318,725. This trade represents a 16.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 52.00% of the company’s stock.

Avis Budget Group Stock Down 4.9 %

Avis Budget Group stock opened at $57.92 on Friday. The firm has a fifty day simple moving average of $82.30 and a two-hundred day simple moving average of $86.05. Avis Budget Group, Inc. has a twelve month low of $54.03 and a twelve month high of $132.25. The company has a market capitalization of $2.03 billion, a PE ratio of -1.12 and a beta of 2.37.

Avis Budget Group (NASDAQ:CAR) last released its earnings results on Tuesday, February 11th. The business services provider reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.27. Avis Budget Group had a negative return on equity of 14.74% and a negative net margin of 15.45%. As a group, equities analysts expect that Avis Budget Group, Inc. will post 8.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group increased their price objective on Avis Budget Group from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $133.75.

Avis Budget Group Profile

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.