11,086 Shares in Avis Budget Group, Inc. $CAR Bought by Blueshift Asset Management LLC

Blueshift Asset Management LLC bought a new stake in shares of Avis Budget Group, Inc. (NASDAQ:CAR) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 11,086 shares of the business services provider’s stock, valued at approximately $1,874,000. Avis Budget Group makes up approximately 0.6% of Blueshift Asset Management LLC’s portfolio, making the stock its 25th biggest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fifth Third Bancorp raised its position in Avis Budget Group by 32.6% during the second quarter. Fifth Third Bancorp now owns 228 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 56 shares during the period. State of Michigan Retirement System boosted its holdings in shares of Avis Budget Group by 2.5% in the 2nd quarter. State of Michigan Retirement System now owns 4,073 shares of the business services provider’s stock worth $689,000 after purchasing an additional 100 shares during the period. Retirement Systems of Alabama increased its position in shares of Avis Budget Group by 0.6% during the 2nd quarter. Retirement Systems of Alabama now owns 20,646 shares of the business services provider’s stock valued at $3,490,000 after purchasing an additional 117 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in Avis Budget Group by 4.7% during the 2nd quarter. Quadrant Capital Group LLC now owns 2,624 shares of the business services provider’s stock valued at $444,000 after buying an additional 117 shares during the period. Finally, Legal & General Group Plc lifted its position in Avis Budget Group by 0.4% in the second quarter. Legal & General Group Plc now owns 31,047 shares of the business services provider’s stock worth $5,248,000 after buying an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Avis Budget Group Stock Down 4.2%

Shares of CAR stock opened at $130.19 on Tuesday. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of -2.18 and a beta of 2.12. Avis Budget Group, Inc. has a 52-week low of $54.03 and a 52-week high of $212.81. The company’s 50 day moving average is $145.20 and its 200 day moving average is $151.98.

Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Monday, October 27th. The business services provider reported $10.11 earnings per share for the quarter, topping analysts’ consensus estimates of $8.11 by $2.00. The company had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter in the prior year, the company earned $6.65 EPS. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. Analysts anticipate that Avis Budget Group, Inc. will post 8.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CAR shares. JPMorgan Chase & Co. raised their target price on shares of Avis Budget Group from $155.00 to $157.00 and gave the stock a “neutral” rating in a report on Monday, October 20th. Weiss Ratings reissued a “sell (d)” rating on shares of Avis Budget Group in a research report on Wednesday, October 8th. Bank of America restated an “underperform” rating and set a $113.00 target price (down previously from $120.00) on shares of Avis Budget Group in a research report on Wednesday, August 20th. Zacks Research raised Avis Budget Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Finally, Barclays decreased their price target on Avis Budget Group from $150.00 to $120.00 and set an “equal weight” rating for the company in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $136.83.

Avis Budget Group Company 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.