Mountain Lake Investment Management LLC lifted its holdings in Avis Budget Group, Inc. (NASDAQ:CAR) by 40.5% 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 843,000 shares of the business services provider’s stock after buying an additional 243,000 shares during the period. Avis Budget Group makes up 9.0% of Mountain Lake Investment Management LLC’s holdings, making the stock its biggest position. Mountain Lake Investment Management LLC owned 1.02% of Avis Budget Group worth $22,989,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CAR. Utah Retirement Systems boosted its stake in Avis Budget Group by 0.7% during the first quarter. Utah Retirement Systems now owns 14,200 shares of the business services provider’s stock worth $420,000 after buying an additional 100 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in Avis Budget Group by 1.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 22,000 shares of the business services provider’s stock valued at $600,000 after buying an additional 300 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Avis Budget Group by 4.0% in the 2nd quarter. Pacer Advisors Inc. now owns 9,261 shares of the business services provider’s stock valued at $253,000 after buying an additional 356 shares in the last quarter. Wittenberg Investment Management Inc. grew its holdings in Avis Budget Group by 0.7% in the 2nd quarter. Wittenberg Investment Management Inc. now owns 69,309 shares of the business services provider’s stock valued at $1,890,000 after buying an additional 500 shares in the last quarter. Finally, Thrivent Financial For Lutherans increased its stake in shares of Avis Budget Group by 3.6% in the 2nd quarter. Thrivent Financial For Lutherans now owns 16,820 shares of the business services provider’s stock worth $459,000 after acquiring an additional 580 shares during the last quarter.

Shares of Avis Budget Group, Inc. (NASDAQ CAR) traded up 0.05% during mid-day trading on Wednesday, reaching $38.94. 738,662 shares of the company traded hands. Avis Budget Group, Inc. has a 52-week low of $20.71 and a 52-week high of $41.53. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 45.87 and a beta of 2.48. The company’s 50 day moving average is $35.91 and its 200 day moving average is $29.80.

Avis Budget Group (NASDAQ:CAR) last released its earnings results on Monday, August 7th. The business services provider reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.32). The firm had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Avis Budget Group had a return on equity of 74.80% and a net margin of 0.86%. The firm’s revenue was down .2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 earnings per share. On average, equities analysts forecast that Avis Budget Group, Inc. will post $2.59 earnings per share for the current year.

In other news, Director John D. Jr. Hardy sold 908 shares of Avis Budget Group stock in a transaction on Friday, August 11th. The stock was sold at an average price of $32.78, for a total value of $29,764.24. Following the completion of the sale, the director now owns 908 shares of the company’s stock, valued at $29,764.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ronald L. Nelson sold 150,000 shares of Avis Budget Group stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $37.30, for a total value of $5,595,000.00. Following the completion of the sale, the insider now directly owns 510,714 shares of the company’s stock, valued at approximately $19,049,632.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 185,708 shares of company stock worth $6,878,212. Corporate insiders own 2.80% of the company’s stock.

CAR has been the topic of several analyst reports. Zacks Investment Research lowered Avis Budget Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. J P Morgan Chase & Co initiated coverage on shares of Avis Budget Group in a research report on Friday, August 4th. They set an “overweight” rating and a $39.00 price target on the stock. ValuEngine lowered shares of Avis Budget Group from a “buy” rating to a “hold” rating in a report on Monday, August 7th. BidaskClub lowered shares of Avis Budget Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 23rd. Finally, Goldman Sachs Group, Inc. (The) reissued a “hold” rating and issued a $37.00 price objective on shares of Avis Budget Group in a report on Thursday, September 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $36.50.

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Avis Budget Group Company Profile

Avis Budget Group Inc is a provider of vehicle rental and car sharing services. The Company operates three brands, which include Avis, Budget and Zipcar. Avis and Budget are a rental car supplier. It also owns Payless, which a car rental brand; Apex, which is a car rental brand in New Zealand and Australia; Maggiore, a vehicle rental brand in Italy, and France Cars, which operates light commercial vehicle fleets in France.

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Institutional Ownership by Quarter for Avis Budget Group (NASDAQ:CAR)

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