Avis Budget Group, Inc. (NASDAQ:CAR) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers increased its holdings in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 1.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 49,460 shares of the business services provider’s stock after acquiring an additional 703 shares during the period. Rhumbline Advisers’ holdings in Avis Budget Group were worth $3,987,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC grew its position in shares of 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 acquiring an additional 183 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Avis Budget Group by 293.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider’s stock worth $36,000 after buying an additional 305 shares during the last quarter. Royce & Associates LP acquired a new stake in Avis Budget Group in the 3rd quarter worth about $217,000. Diversify Advisory Services LLC acquired a new stake in Avis Budget Group in the 4th quarter worth about $254,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in Avis Budget Group in the 3rd quarter worth about $263,000. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Avis Budget Group Stock Down 1.5 %

NASDAQ CAR opened at $79.01 on Friday. The stock has a market capitalization of $2.77 billion, a P/E ratio of -1.52 and a beta of 2.26. Avis Budget Group, Inc. has a 52-week low of $65.73 and a 52-week high of $132.25. The firm has a 50-day moving average price of $86.89 and a 200 day moving average price of $88.02.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings results on Tuesday, February 11th. The business services provider reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate 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%. On average, equities research analysts expect that Avis Budget Group, Inc. will post 8.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CAR has been the topic of several research analyst reports. Northcoast Research cut Avis Budget Group from a “buy” rating to a “neutral” rating in a report on Monday, November 18th. Deutsche Bank Aktiengesellschaft lowered their price objective on Avis Budget Group from $145.00 to $143.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. JPMorgan Chase & Co. lowered their price objective on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. StockNews.com upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Finally, The Goldman Sachs Group raised their target price 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 research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $133.75.

Insiders Place Their Bets

In related news, Director Lynn Krominga sold 1,405 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $95.00, for a total transaction of $133,475.00. Following the transaction, the director now owns 1,950 shares of the company’s stock, valued at approximately $185,250. This represents a 41.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 52.00% of the stock is currently owned by company insiders.

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.