Oxinas Partners Wealth Management LLC Boosts Stock Position in Avis Budget Group, Inc. (NASDAQ:CAR)

Oxinas Partners Wealth Management LLC grew its holdings in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 204.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,390 shares of the business services provider’s stock after buying an additional 4,290 shares during the period. Oxinas Partners Wealth Management LLC’s holdings in Avis Budget Group were worth $783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. State of Michigan Retirement System grew its position in shares of Avis Budget Group by 2.2% in the 1st quarter. State of Michigan Retirement System now owns 4,573 shares of the business services provider’s stock valued at $560,000 after buying an additional 100 shares during the last quarter. Alaska Permanent Fund Corp grew its holdings in shares of Avis Budget Group by 38.3% during the first quarter. Alaska Permanent Fund Corp now owns 17,083 shares of the business services provider’s stock worth $2,092,000 after purchasing an additional 4,730 shares during the last quarter. Leo Wealth LLC acquired a new stake in shares of Avis Budget Group during the fourth quarter worth about $201,000. Neo Ivy Capital Management purchased a new stake in shares of Avis Budget Group in the 4th quarter valued at about $239,000. Finally, Par Capital Management Inc. boosted its position in shares of Avis Budget Group by 16.1% in the 4th quarter. Par Capital Management Inc. now owns 848,959 shares of the business services provider’s stock valued at $150,486,000 after purchasing an additional 117,600 shares during the period. 96.35% of the stock is owned by institutional investors and hedge funds.

Avis Budget Group Price Performance

NASDAQ:CAR traded up $3.75 during mid-day trading on Tuesday, reaching $105.03. The company’s stock had a trading volume of 433,348 shares, compared to its average volume of 769,338. The stock has a market cap of $3.74 billion, a P/E ratio of 3.32 and a beta of 2.21. The company’s fifty day simple moving average is $110.81 and its two-hundred day simple moving average is $128.86. Avis Budget Group, Inc. has a twelve month low of $93.53 and a twelve month high of $244.95.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported ($3.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.65) by ($0.56). Avis Budget Group had a negative return on equity of 480.48% and a net margin of 10.05%. The company had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the prior year, the business earned $7.72 EPS. The business’s revenue for the quarter was down .2% on a year-over-year basis. Sell-side analysts expect that Avis Budget Group, Inc. will post 12.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CAR shares. Morgan Stanley decreased their target price on shares of Avis Budget Group from $190.00 to $187.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft lowered their target price on Avis Budget Group from $202.00 to $183.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. The Goldman Sachs Group upgraded Avis Budget Group from a “sell” rating to a “neutral” rating and upped their price target for the stock from $118.00 to $130.00 in a research note on Thursday, April 4th. Northcoast Research raised shares of Avis Budget Group from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a research note on Monday, March 25th. Finally, Bank of America cut their price objective on shares of Avis Budget Group from $170.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $164.57.

Avis Budget Group Company 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.