Oxinas Partners Wealth Management LLC Sells 3,255 Shares of Avis Budget Group, Inc. (NASDAQ:CAR)

Oxinas Partners Wealth Management LLC trimmed its position in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 50.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,135 shares of the business services provider’s stock after selling 3,255 shares during the quarter. Oxinas Partners Wealth Management LLC’s holdings in Avis Budget Group were worth $328,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. EntryPoint Capital LLC grew its stake in shares of Avis Budget Group by 119.2% in the 1st quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider’s stock worth $28,000 after buying an additional 124 shares during the last quarter. Denali Advisors LLC grew its stake in shares of Avis Budget Group by 94.1% in the first quarter. Denali Advisors LLC now owns 231 shares of the business services provider’s stock worth $28,000 after acquiring an additional 112 shares during the last quarter. Central Valley Advisors LLC bought a new position in shares of Avis Budget Group during the second quarter valued at $25,000. TFO Wealth Partners LLC raised its position in shares of Avis Budget Group by 15,550.0% in the 4th quarter. TFO Wealth Partners LLC now owns 313 shares of the business services provider’s stock worth $55,000 after purchasing an additional 311 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in Avis Budget Group by 180.0% in the 2nd quarter. Signaturefd LLC now owns 714 shares of the business services provider’s stock worth $75,000 after purchasing an additional 459 shares in the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Analysts Set New Price Targets

CAR has been the subject of a number of recent analyst reports. Susquehanna decreased their target price on Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. decreased their target price on shares of Avis Budget Group from $205.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft dropped their price target on Avis Budget Group from $155.00 to $146.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. StockNews.com downgraded Avis Budget Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. Finally, The Goldman Sachs Group cut their price target on Avis Budget Group from $120.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $143.29.

Avis Budget Group Trading Down 8.1 %

NASDAQ:CAR opened at $75.31 on Wednesday. The business’s 50-day moving average is $95.50 and its 200 day moving average is $106.13. Avis Budget Group, Inc. has a 12 month low of $75.15 and a 12 month high of $212.34. The company has a market capitalization of $2.68 billion, a P/E ratio of 2.38 and a beta of 2.21.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings data on Monday, August 5th. The business services provider reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $2.60 by ($2.19). The business had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Avis Budget Group had a negative return on equity of 230.71% and a net margin of 6.58%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $11.01 earnings per share. On average, research analysts forecast that Avis Budget Group, Inc. will post 7.68 earnings per share for the current 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.