Fieldview Capital Management LLC Makes New $580,000 Investment in Avis Budget Group, Inc. $CAR

Fieldview Capital Management LLC purchased a new position in Avis Budget Group, Inc. (NASDAQ:CAR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,518 shares of the business services provider’s stock, valued at approximately $580,000.

Several other institutional investors have also added to or reduced their stakes in the business. UBS Group AG boosted its holdings in Avis Budget Group by 37.3% in the fourth quarter. UBS Group AG now owns 2,964,807 shares of the business services provider’s stock worth $380,444,000 after acquiring an additional 804,814 shares in the last quarter. Morgan Stanley boosted its holdings in Avis Budget Group by 38.1% in the fourth quarter. Morgan Stanley now owns 1,975,675 shares of the business services provider’s stock worth $253,519,000 after acquiring an additional 545,574 shares in the last quarter. National Bank of Canada FI boosted its holdings in Avis Budget Group by 46.6% in the third quarter. National Bank of Canada FI now owns 1,290,000 shares of the business services provider’s stock worth $207,142,000 after acquiring an additional 409,761 shares in the last quarter. State Street Corp boosted its holdings in Avis Budget Group by 1.0% in the second quarter. State Street Corp now owns 713,127 shares of the business services provider’s stock worth $120,554,000 after acquiring an additional 7,318 shares in the last quarter. Finally, Cibc World Market Inc. boosted its holdings in Avis Budget Group by 75.0% in the fourth quarter. Cibc World Market Inc. now owns 700,005 shares of the business services provider’s stock worth $89,825,000 after acquiring an additional 300,000 shares in the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CAR. Susquehanna raised their price objective on Avis Budget Group from $105.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Zacks Research upgraded Avis Budget Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. raised their price objective on Avis Budget Group from $140.00 to $155.00 and gave the stock an “underweight” rating in a research note on Tuesday, June 9th. Wall Street Zen upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $125.00 price objective on shares of Avis Budget Group in a research note on Friday, May 1st. Six equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $129.63.

Insider Buying and Selling at Avis Budget Group

In other Avis Budget Group news, major shareholder Pentwater Capital Management L sold 3,347 shares of the business’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $438.74, for a total value of $1,468,462.78. Following the completion of the transaction, the insider directly owned 6,177,100 shares of the company’s stock, valued at approximately $2,710,140,854. The trade was a 0.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Edward P. Linnen sold 9,483 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $182.32, for a total value of $1,728,940.56. Following the completion of the transaction, the executive vice president directly owned 37,932 shares of the company’s stock, valued at $6,915,762.24. The trade was a 20.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 16,299 shares of company stock valued at $3,836,012. 50.48% of the stock is owned by company insiders.

Avis Budget Group Trading Up 1.6%

Shares of NASDAQ:CAR opened at $190.07 on Tuesday. Avis Budget Group, Inc. has a 12-month low of $85.96 and a 12-month high of $847.70. The company has a market capitalization of $6.72 billion, a PE ratio of -9.98 and a beta of 1.87. The business has a 50 day moving average of $230.99 and a two-hundred day moving average of $159.62.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings results on Wednesday, April 29th. The business services provider reported ($8.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($6.82) by ($1.19). The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the firm earned ($14.35) earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities research analysts predict that Avis Budget Group, Inc. will post 2.93 earnings per share for the current fiscal year.

Avis Budget Group Company Profile

Avis Budget Group, Inc operates as a leading global provider of vehicle rental and mobility solutions. Through its two core brands, Avis® and Budget®, the company offers a broad range of rental options including daily, weekly and monthly car rentals for leisure and business travelers. In addition to traditional airport and off-airport car rental services, Avis Budget Group delivers innovative mobility platforms such as car-sharing programs and connected fleet solutions designed to meet the evolving needs of corporate, government and individual customers.

The company’s roots trace back to Avis Rent a Car, founded in 1946, and Budget Rent a Car, established in 1958.