Wealthfront Advisers LLC acquired a new position in shares of Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 150,894 shares of the business services provider's stock, valued at approximately $12,164,000. Wealthfront Advisers LLC owned 0.43% of Avis Budget Group at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the stock. Barclays PLC lifted its holdings in shares of Avis Budget Group by 30.5% during the 3rd quarter. Barclays PLC now owns 200,576 shares of the business services provider's stock valued at $17,571,000 after acquiring an additional 46,922 shares in the last quarter. Wolverine Asset Management LLC raised its position in Avis Budget Group by 93.4% in the third quarter. Wolverine Asset Management LLC now owns 16,771 shares of the business services provider's stock valued at $1,469,000 after purchasing an additional 8,100 shares during the period. State Street Corp lifted its stake in shares of Avis Budget Group by 2.5% during the third quarter. State Street Corp now owns 672,227 shares of the business services provider's stock worth $58,880,000 after purchasing an additional 16,221 shares in the last quarter. Algert Global LLC boosted its position in shares of Avis Budget Group by 123.8% in the third quarter. Algert Global LLC now owns 22,745 shares of the business services provider's stock worth $1,992,000 after buying an additional 12,580 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Avis Budget Group by 10.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 185,801 shares of the business services provider's stock worth $16,274,000 after buying an additional 17,666 shares during the period. Hedge funds and other institutional investors own 96.35% of the company's stock.
Shares of NASDAQ:CAR traded down $1.15 during midday trading on Wednesday, reaching $62.64. The company had a trading volume of 1,045,478 shares, compared to its average volume of 746,801. The stock has a market capitalization of $2.20 billion, a P/E ratio of -1.21 and a beta of 2.37. The stock's fifty day moving average price is $85.73 and its 200-day moving average price is $87.30. Avis Budget Group, Inc. has a one year low of $61.41 and a one year high of $132.25.
Avis Budget Group (NASDAQ:CAR - Get Free Report) last released its earnings results on Tuesday, February 11th. The business services provider reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.27. Avis Budget Group had a negative net margin of 15.45% and a negative return on equity of 14.74%. As a group, sell-side analysts forecast that Avis Budget Group, Inc. will post 8.91 earnings per share for the current year.
In other Avis Budget Group news, Director Lynn Krominga sold 661 shares of Avis Budget Group stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $95.00, for a total value of $62,795.00. Following the completion of the transaction, the director now owns 3,355 shares of the company's stock, valued at $318,725. The trade was a 16.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 52.00% of the stock is currently owned by insiders.
Several equities analysts recently commented on the company. The Goldman Sachs Group boosted their price target on Avis Budget Group from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 10th. Northcoast Research cut shares of 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 given a buy rating to the stock. According to MarketBeat.com, Avis Budget Group has a consensus rating of "Hold" and a consensus price target of $133.75.
Read Our Latest Research Report on CAR
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.
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