Avis Budget Group, Inc. (NASDAQ:CAR) Stake Boosted by Think Investments LP
Think Investments LP lifted its holdings in Avis Budget Group, Inc. (NASDAQ:CAR – Free Report) by 69.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 190,500 shares of the business services provider’s stock after buying an additional 78,343 shares during the period. Avis Budget Group makes up 9.5% of Think Investments LP’s holdings, making the stock its biggest position. Think Investments LP owned 0.49% of Avis Budget Group worth $43,562,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. AXS Investments LLC increased its position in Avis Budget Group by 100.0% during the first quarter. AXS Investments LLC now owns 300 shares of the business services provider’s stock worth $58,000 after purchasing an additional 150 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Avis Budget Group during the first quarter valued at about $70,000. Fortis Capital Advisors LLC acquired a new stake in shares of Avis Budget Group during the fourth quarter valued at about $79,000. State of Wyoming acquired a new stake in shares of Avis Budget Group during the fourth quarter valued at about $80,000. Finally, Lazard Asset Management LLC increased its position in shares of Avis Budget Group by 8.8% during the fourth quarter. Lazard Asset Management LLC now owns 532 shares of the business services provider’s stock valued at $87,000 after acquiring an additional 43 shares during the last quarter. 98.26% of the stock is owned by hedge funds and other institutional investors.
Avis Budget Group Stock Performance
CAR traded up $10.14 during trading on Wednesday, hitting $194.11. The stock had a trading volume of 465,914 shares, compared to its average volume of 503,669. The firm has a market capitalization of $7.03 billion, a P/E ratio of 4.36 and a beta of 2.40. The company’s 50-day moving average price is $180.44 and its 200 day moving average price is $200.18. Avis Budget Group, Inc. has a twelve month low of $153.55 and a twelve month high of $251.26.
Avis Budget Group (NASDAQ:CAR – Get Free Report) last posted its quarterly earnings results on Thursday, November 2nd. The business services provider reported $16.78 earnings per share for the quarter, topping analysts’ consensus estimates of $14.54 by $2.24. Avis Budget Group had a net margin of 14.95% and a negative return on equity of 559.82%. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the prior year, the company posted $21.70 EPS. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, equities analysts expect that Avis Budget Group, Inc. will post 40.18 earnings per share for the current fiscal year.
Avis Budget Group Dividend Announcement
The firm also recently disclosed a special dividend, which will be paid on Thursday, December 21st. Investors of record on Friday, December 15th will be given a $10.00 dividend.
Analyst Upgrades and Downgrades
Separately, StockNews.com upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Thursday, November 2nd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Avis Budget Group presently has an average rating of “Hold” and an average target price of $237.60.
Check Out Our Latest Stock Report on Avis Budget Group
Avis Budget Group Profile (Free Report)
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; the Budget Truck brand, 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 approximately 415 dealer-operated and 390 company-operated locations that serve the light commercial and consumer sectors in the continental United States; and the Zipcar brand, a car sharing network.
Further Reading
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Original: MarketBeat News Feed: Avis Budget Group, Inc. (NASDAQ:CAR) Stake Boosted by Think Investments LP