Great Valley Advisor Group Inc. Increases Stake in Avis Budget Group, Inc. (NASDAQ:CAR)

Great Valley Advisor Group Inc. raised its stake in Avis Budget Group, Inc. (NASDAQ:CAR) by 10.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,659 shares of the business services provider’s stock after acquiring an additional 1,725 shares during the quarter. Great Valley Advisor Group Inc. owned approximately 0.05% of Avis Budget Group worth $1,635,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CAR. EntryPoint Capital LLC boosted its position in Avis Budget Group by 119.2% during the first quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider’s stock worth $28,000 after purchasing an additional 124 shares in the last quarter. Central Valley Advisors LLC purchased a new position in shares of Avis Budget Group during the 2nd quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL grew its stake in Avis Budget Group by 198.3% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 240 shares during the period. Nisa Investment Advisors LLC increased 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 acquiring an additional 305 shares in the last quarter. Finally, Signaturefd LLC raised its position in Avis Budget Group by 180.0% during the second quarter. Signaturefd LLC now owns 714 shares of the business services provider’s stock worth $75,000 after acquiring an additional 459 shares during the period. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CAR. The Goldman Sachs Group dropped their target price on shares of Avis Budget Group from $105.00 to $90.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft cut their price objective on Avis Budget Group from $145.00 to $143.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Susquehanna reduced their target price on Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Northcoast Research lowered Avis Budget Group from a “buy” rating to a “neutral” rating in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. reduced their price objective on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $133.13.

Avis Budget Group Stock Performance

Shares of Avis Budget Group stock opened at $102.67 on Monday. The business’s 50 day moving average price is $88.57 and its 200 day moving average price is $95.93. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 9.38 and a beta of 2.14. Avis Budget Group, Inc. has a one year low of $65.73 and a one year high of $204.77.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings results on Thursday, October 31st. The business services provider reported $6.65 EPS 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 company had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.53 billion. During the same quarter in the prior year, the firm earned $16.78 EPS. The firm’s revenue was down 2.4% on a year-over-year basis. On average, analysts predict that Avis Budget Group, Inc. will post 5.24 EPS for the current fiscal year.

About Avis Budget Group

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers in the Americas, Europe, the Middle East and Africa, Asia, and Australasia. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; and the Zipcar brand, a car sharing network, as well as the Budget brand, a supplier of vehicle rental and other mobility solutions focused primarily on more value-conscious customers comprising Budget car rental, and Budget Truck, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of dealer-operated and company-operated locations that serve the light commercial and consumer sectors in the continental United States.