Avis Budget Group, Inc. (NASDAQ:CAR) Shares Acquired by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC increased its stake in Avis Budget Group, Inc. (NASDAQ:CAR) by 1,345.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,515 shares of the business services provider’s stock after acquiring an additional 2,341 shares during the period. Nisa Investment Advisors LLC’s holdings in Avis Budget Group were worth $446,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CAR. HighTower Advisors LLC acquired a new stake in shares of Avis Budget Group in the first quarter valued at $270,000. Great West Life Assurance Co. Can raised its stake in shares of Avis Budget Group by 8.1% in the first quarter. Great West Life Assurance Co. Can now owns 26,716 shares of the business services provider’s stock valued at $7,275,000 after acquiring an additional 1,999 shares in the last quarter. Bridgewater Associates LP raised its stake in shares of Avis Budget Group by 246.2% in the first quarter. Bridgewater Associates LP now owns 6,685 shares of the business services provider’s stock valued at $1,760,000 after acquiring an additional 4,754 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Avis Budget Group by 6.5% in the first quarter. Federated Hermes Inc. now owns 11,383 shares of the business services provider’s stock valued at $2,997,000 after acquiring an additional 696 shares in the last quarter. Finally, Utah Retirement Systems acquired a new stake in shares of Avis Budget Group in the first quarter valued at $1,369,000. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on CAR shares. Deutsche Bank Aktiengesellschaft upgraded Avis Budget Group from a “hold” rating to a “buy” rating and raised their price target for the company from $234.00 to $248.00 in a research note on Thursday, January 25th. StockNews.com upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. Morgan Stanley cut their price target on Avis Budget Group from $190.00 to $187.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. Susquehanna cut their price target on Avis Budget Group from $195.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 14th. Finally, Bank of America began coverage on Avis Budget Group in a research report on Tuesday, March 19th. They set a “buy” rating and a $170.00 target price on the stock. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $182.14.

Avis Budget Group Stock Down 2.9 %

NASDAQ CAR opened at $105.35 on Thursday. Avis Budget Group, Inc. has a 52-week low of $99.60 and a 52-week high of $244.95. The business’s 50-day moving average price is $117.15 and its 200 day moving average price is $156.51. The firm has a market cap of $3.76 billion, a P/E ratio of 2.47 and a beta of 2.22.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings data on Tuesday, February 13th. The business services provider reported $7.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.15 by $2.95. Avis Budget Group had a negative return on equity of 696.69% and a net margin of 13.59%. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the previous year, the company earned $10.46 EPS. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, analysts anticipate that Avis Budget Group, Inc. will post 15.35 earnings per share for the current year.

Avis Budget Group Profile

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.