Avis Budget Group, Inc. (NASDAQ:CAR) Holdings Boosted by Wolverine Asset Management LLC

Wolverine Asset Management LLC boosted its holdings in Avis Budget Group, Inc. (NASDAQ:CAR) by 870.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 162,771 shares of the business services provider’s stock after acquiring an additional 146,000 shares during the period. Wolverine Asset Management LLC’s holdings in Avis Budget Group were worth $13,121,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of Avis Budget Group by 118.8% in the fourth quarter. GAMMA Investing LLC now owns 337 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 183 shares during the period. Yousif Capital Management LLC increased its stake in shares of Avis Budget Group by 2.5% in the fourth quarter. Yousif Capital Management LLC now owns 7,592 shares of the business services provider’s stock valued at $612,000 after purchasing an additional 187 shares during the period. Strategic Investment Solutions Inc. IL increased its stake in shares of Avis Budget Group by 198.3% in the third quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 240 shares during the period. Inspire Investing LLC increased its stake in shares of Avis Budget Group by 6.4% in the fourth quarter. Inspire Investing LLC now owns 4,984 shares of the business services provider’s stock valued at $402,000 after purchasing an additional 301 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in shares of Avis Budget Group by 293.3% in the third quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 305 shares during the period. Institutional investors own 96.35% of the company’s stock.

Avis Budget Group Stock Performance

Avis Budget Group stock opened at $94.14 on Friday. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of -1.82 and a beta of 2.26. Avis Budget Group, Inc. has a 1 year low of $65.73 and a 1 year high of $132.25. The firm’s 50 day moving average price is $87.26 and its two-hundred day moving average price is $88.13.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings data on Tuesday, February 11th. The business services provider reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.27. Avis Budget Group had a negative net margin of 15.45% and a negative return on equity of 32.07%. As a group, equities analysts predict that Avis Budget Group, Inc. will post 8.91 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Lynn Krominga sold 1,405 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $95.00, for a total transaction of $133,475.00. Following the transaction, the director now directly owns 1,950 shares in the company, valued at $185,250. The trade was a 41.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 52.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CAR. StockNews.com upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. The Goldman Sachs Group raised their price objective on shares of Avis Budget Group from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Avis Budget Group from $145.00 to $143.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Northcoast Research lowered shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $133.75.

About Avis Budget Group

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.