Bridgeway Capital Management Inc. increased its position in Avis Budget Group Inc. (NASDAQ:CAR) by 10.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 95,700 shares of the business services provider’s stock after purchasing an additional 8,800 shares during the quarter. Bridgeway Capital Management Inc. owned approximately 0.12% of Avis Budget Group worth $3,076,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in CAR. Principal Financial Group Inc. lifted its holdings in Avis Budget Group by 1.7% during the first quarter. Principal Financial Group Inc. now owns 309,148 shares of the business services provider’s stock worth $14,480,000 after buying an additional 5,221 shares during the period. Cornerstone Wealth Management LLC purchased a new stake in Avis Budget Group during the second quarter worth $224,000. Eqis Capital Management Inc. lifted its holdings in Avis Budget Group by 38.1% during the second quarter. Eqis Capital Management Inc. now owns 13,645 shares of the business services provider’s stock worth $443,000 after buying an additional 3,765 shares during the period. Aperio Group LLC lifted its holdings in Avis Budget Group by 12.9% during the second quarter. Aperio Group LLC now owns 36,952 shares of the business services provider’s stock worth $1,201,000 after buying an additional 4,216 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Avis Budget Group during the second quarter worth $344,000.
In other news, SVP David T. Calabria sold 1,700 shares of the stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $29.29, for a total transaction of $49,793.00. Following the completion of the sale, the senior vice president now owns 7,661 shares in the company, valued at approximately $224,390.69. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.
Shares of CAR opened at $29.29 on Monday. Avis Budget Group Inc. has a 12 month low of $26.97 and a 12 month high of $50.88. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 27.75. The firm has a market cap of $2.27 billion, a PE ratio of 8.11 and a beta of 1.80.
Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings data on Monday, November 5th. The business services provider reported $3.33 EPS for the quarter, missing the consensus estimate of $3.54 by ($0.21). Avis Budget Group had a net margin of 4.09% and a return on equity of 60.18%. The business had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter in the prior year, the company posted $3.10 EPS. The business’s revenue for the quarter was up .9% on a year-over-year basis. Analysts forecast that Avis Budget Group Inc. will post 3.43 earnings per share for the current year.
A number of analysts have weighed in on the company. Deutsche Bank set a $45.00 target price on Avis Budget Group and gave the stock a “buy” rating in a report on Tuesday, November 6th. ValuEngine lowered Avis Budget Group from a “sell” rating to a “strong sell” rating in a report on Friday, August 24th. Zacks Investment Research lowered Avis Budget Group from a “hold” rating to a “sell” rating in a report on Friday, October 26th. BidaskClub lowered Avis Budget Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 29th. Finally, Goldman Sachs Group set a $30.00 target price on Avis Budget Group and gave the stock a “sell” rating in a report on Tuesday, October 16th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $41.00.
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About Avis Budget Group
Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary services to businesses and consumers worldwide. It operates the Avis brand, a vehicle rental system with approximately 5,450 locations that supply rental cars to the premium commercial and leisure segments of the travel industry; the Budget brand, a vehicle rental and other mobility solutions primarily focuses on the value-conscious segments of the industry; the Zipcar brand, a membership-based car sharing network; and the Budget Truck brand, a local and one-way truck rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of approximately 925 dealer-operated and 450 company-operated locations that serve the consumer and light commercial sectors in the continental United States.
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