Xponance Inc. Raises Position in Avis Budget Group, Inc. (NASDAQ:CAR)

Xponance Inc. raised its position in Avis Budget Group, Inc. (NASDAQ:CAR) by 11.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,711 shares of the business services provider’s stock after buying an additional 274 shares during the period. Xponance Inc.’s holdings in Avis Budget Group were worth $219,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Barclays PLC boosted its stake in shares of Avis Budget Group by 30.5% in the third quarter. Barclays PLC now owns 200,576 shares of the business services provider’s stock worth $17,571,000 after acquiring an additional 46,922 shares during the last quarter. Swiss National Bank lifted its holdings in Avis Budget Group by 0.9% in the 4th quarter. Swiss National Bank now owns 35,100 shares of the business services provider’s stock valued at $2,829,000 after purchasing an additional 300 shares in the last quarter. State Street Corp lifted its holdings in Avis Budget Group by 2.5% in the 3rd quarter. State Street Corp now owns 672,227 shares of the business services provider’s stock valued at $58,880,000 after purchasing an additional 16,221 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Avis Budget Group by 10.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 185,801 shares of the business services provider’s stock worth $16,274,000 after purchasing an additional 17,666 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in shares of Avis Budget Group by 1,858.7% during the third quarter. National Bank of Canada FI now owns 90,000 shares of the business services provider’s stock worth $7,883,000 after buying an additional 85,405 shares in the last quarter. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, The Goldman Sachs Group raised their price target on shares of Avis Budget Group from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $130.71.

Insider Buying and Selling at Avis Budget Group

In other news, Director Lynn Krominga sold 661 shares of Avis Budget Group stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $95.00, for a total value of $62,795.00. Following the completion of the sale, the director now directly owns 3,355 shares of the company’s stock, valued at approximately $318,725. The trade was a 16.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 52.00% of the stock is owned by corporate insiders.

Avis Budget Group Stock Up 0.7 %

Shares of Avis Budget Group stock opened at $74.66 on Friday. The business’s fifty day simple moving average is $79.69 and its 200-day simple moving average is $85.70. Avis Budget Group, Inc. has a 52 week low of $54.03 and a 52 week high of $132.25. The firm has a market cap of $2.62 billion, a PE ratio of -1.44 and a beta of 2.37.

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

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.