4,797 Shares in Avis Budget Group, Inc. (NASDAQ:CAR) Acquired by Twinbeech Capital LP

Twinbeech Capital LP purchased a new position in shares of Avis Budget Group, Inc. (NASDAQ:CAR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,797 shares of the business services provider’s stock, valued at approximately $387,000.

Other large investors have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of Avis Budget Group in the 4th quarter valued at $25,000. Quadrant Capital Group LLC raised its position in Avis Budget Group by 41.0% during the 4th quarter. Quadrant Capital Group LLC now owns 681 shares of the business services provider’s stock worth $55,000 after purchasing an additional 198 shares during the last quarter. Sterling Capital Management LLC raised its position in Avis Budget Group by 41.3% during the 4th quarter. Sterling Capital Management LLC now owns 736 shares of the business services provider’s stock worth $59,000 after purchasing an additional 215 shares during the last quarter. Signaturefd LLC raised its position in Avis Budget Group by 31.8% during the 4th quarter. Signaturefd LLC now owns 936 shares of the business services provider’s stock worth $75,000 after purchasing an additional 226 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of Avis Budget Group by 36.1% in the 4th quarter. Covestor Ltd now owns 1,353 shares of the business services provider’s stock worth $109,000 after acquiring an additional 359 shares in the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CAR shares. Wall Street Zen raised Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 3rd. JPMorgan Chase & Co. lifted their price target on Avis Budget Group from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Finally, The Goldman Sachs Group dropped their target price on shares of Avis Budget Group from $100.00 to $87.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $117.00.

Avis Budget Group Trading Up 8.1%

NASDAQ:CAR opened at $117.75 on Friday. The firm’s 50 day moving average is $83.81 and its 200 day moving average is $87.15. Avis Budget Group, Inc. has a 12 month low of $54.03 and a 12 month high of $117.81. The stock has a market capitalization of $4.14 billion, a PE ratio of -2.27 and a beta of 2.10.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings results on Wednesday, May 7th. The business services provider reported ($14.35) earnings per share for the quarter, missing the consensus estimate of ($5.72) by ($8.63). The firm had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.49 billion. Avis Budget Group had a negative return on equity of 14.74% and a negative net margin of 15.45%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($3.21) EPS. Research analysts predict that Avis Budget Group, Inc. will post 8.91 earnings per share for the current year.

Avis Budget Group 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.