Avis Budget Group, Inc. (NASDAQ:CAR) Shares Acquired by Holocene Advisors LP

Holocene Advisors LP increased its stake in Avis Budget Group, Inc. (NASDAQ:CAR) by 106.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 46,619 shares of the business services provider’s stock after buying an additional 24,080 shares during the quarter. Holocene Advisors LP owned about 0.13% of Avis Budget Group worth $4,083,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Centiva Capital LP grew its stake in shares of Avis Budget Group by 101.1% in the third quarter. Centiva Capital LP now owns 20,025 shares of the business services provider’s stock valued at $1,754,000 after buying an additional 10,068 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Avis Budget Group by 553.8% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,668 shares of the business services provider’s stock valued at $409,000 after purchasing an additional 3,954 shares during the last quarter. JAT Capital Mgmt LP boosted its holdings in Avis Budget Group by 24.5% in the third quarter. JAT Capital Mgmt LP now owns 398,170 shares of the business services provider’s stock valued at $34,876,000 after purchasing an additional 78,383 shares during the last quarter. Verition Fund Management LLC boosted its holdings in Avis Budget Group by 263.2% in the third quarter. Verition Fund Management LLC now owns 25,149 shares of the business services provider’s stock valued at $2,203,000 after purchasing an additional 18,225 shares during the last quarter. Finally, Capstone Investment Advisors LLC purchased a new position in Avis Budget Group in the third quarter valued at about $341,000. Institutional investors and hedge funds own 96.35% of the company’s stock.

Avis Budget Group Stock Down 1.4 %

NASDAQ:CAR opened at $101.47 on Thursday. The business’s 50 day moving average is $92.11 and its two-hundred day moving average is $95.09. The company has a market cap of $3.57 billion, a PE ratio of 9.27 and a beta of 2.20. Avis Budget Group, Inc. has a 52 week low of $65.73 and a 52 week high of $204.77.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings results on Thursday, October 31st. The business services provider reported $6.65 earnings per share for the quarter, missing analysts’ consensus estimates of $8.55 by ($1.90). The company had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.53 billion. Avis Budget Group had a negative return on equity of 101.41% and a net margin of 3.34%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $16.78 earnings per share. As a group, sell-side analysts expect that Avis Budget Group, Inc. will post 3.59 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on CAR. Susquehanna reduced their price target on Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating for the company in a report on Friday, August 9th. StockNews.com raised Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Northcoast Research downgraded Avis Budget Group from a “buy” rating to a “neutral” rating in a report on Monday, November 18th. The Goldman Sachs Group reduced their price target on Avis Budget Group from $105.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, October 11th. Finally, JPMorgan Chase & Co. reduced their target price on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $133.13.

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.