2,675 Shares in Avis Budget Group, Inc. $CAR Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas acquired a new position in shares of Avis Budget Group, Inc. (NASDAQ:CAR) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,675 shares of the business services provider’s stock, valued at approximately $452,000.

A number of other hedge funds have also bought and sold shares of the company. Fifth Third Bancorp boosted its stake in shares of Avis Budget Group by 32.6% during the 2nd quarter. Fifth Third Bancorp now owns 228 shares of the business services provider’s stock worth $39,000 after purchasing an additional 56 shares during the period. SummerHaven Investment Management LLC lifted its stake in Avis Budget Group by 2.3% in the second quarter. SummerHaven Investment Management LLC now owns 7,795 shares of the business services provider’s stock worth $1,318,000 after purchasing an additional 172 shares during the last quarter. Xponance Inc. lifted its stake in Avis Budget Group by 7.8% in the first quarter. Xponance Inc. now owns 2,922 shares of the business services provider’s stock worth $222,000 after purchasing an additional 211 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Avis Budget Group by 0.8% during the first quarter. Principal Financial Group Inc. now owns 39,232 shares of the business services provider’s stock valued at $2,978,000 after buying an additional 293 shares during the period. Finally, KLP Kapitalforvaltning AS grew its stake in shares of Avis Budget Group by 9.1% during the second quarter. KLP Kapitalforvaltning AS now owns 3,600 shares of the business services provider’s stock valued at $609,000 after buying an additional 300 shares during the last quarter. Institutional investors own 96.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Zacks Research lowered Avis Budget Group from a “hold” rating to a “strong sell” rating in a research note on Monday, October 20th. The Goldman Sachs Group reissued a “sell” rating and set a $105.00 target price (up from $87.00) on shares of Avis Budget Group in a research note on Friday, August 1st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Avis Budget Group in a research note on Wednesday, October 8th. Barclays decreased their price objective on shares of Avis Budget Group from $150.00 to $120.00 and set an “equal weight” rating for the company in a report on Monday, November 3rd. Finally, Bank of America restated an “underperform” rating and issued a $113.00 target price (down from $120.00) on shares of Avis Budget Group in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $136.83.

Avis Budget Group Price Performance

CAR stock opened at $143.31 on Monday. Avis Budget Group, Inc. has a 1-year low of $54.03 and a 1-year high of $212.81. The business has a 50-day moving average price of $152.23 and a 200 day moving average price of $147.89. The company has a market capitalization of $5.04 billion, a P/E ratio of -2.40 and a beta of 2.12.

Avis Budget Group (NASDAQ:CAR) last issued its earnings results on Monday, October 27th. The business services provider reported $10.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.11 by $2.00. The business had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the previous year, the company earned $6.65 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. On average, analysts anticipate that Avis Budget Group, Inc. will post 8.91 earnings per share for the current fiscal year.

Insider Transactions at Avis Budget Group

In related news, EVP Edward P. Linnen sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $156.83, for a total value of $1,568,300.00. Following the completion of the transaction, the executive vice president owned 40,915 shares of the company’s stock, valued at $6,416,699.45. The trade was a 19.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 52.80% of the stock is currently owned by insiders.

Avis Budget Group Company Profile

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.