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

Inspire Investing LLC lifted its stake in Avis Budget Group, Inc. (NASDAQ:CAR) by 6.4% during the fourth quarter, HoldingsChannel reports. 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 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC boosted its position in Avis Budget Group by 4.0% in the 3rd quarter. FMR LLC now owns 3,354,546 shares of the business services provider’s stock valued at $293,825,000 after buying an additional 129,805 shares during the period. State Street Corp boosted its holdings in shares of Avis Budget Group by 2.5% in the third 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 during the period. Massachusetts Financial Services Co. MA grew its stake in Avis Budget Group by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 592,341 shares of the business services provider’s stock worth $51,883,000 after purchasing an additional 2,561 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Avis Budget Group by 19,203.5% during the 3rd quarter. International Assets Investment Management LLC now owns 481,044 shares of the business services provider’s stock worth $421,350,000 after purchasing an additional 478,552 shares during the period. Finally, JAT Capital Mgmt LP raised its position in Avis Budget Group by 24.5% during the 3rd quarter. JAT Capital Mgmt LP now owns 398,170 shares of the business services provider’s stock valued at $34,876,000 after purchasing an additional 78,383 shares in the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Analyst Ratings Changes

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

Avis Budget Group Trading Down 1.0 %

NASDAQ CAR opened at $90.02 on Friday. The firm’s fifty day simple moving average is $92.02 and its two-hundred day simple moving average is $89.65. The firm has a market capitalization of $3.16 billion, a P/E ratio of 8.22 and a beta of 2.25. Avis Budget Group, Inc. has a 12-month low of $65.73 and a 12-month high of $176.79.

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