Balter Liquid Alternatives LLC acquired a new position in Avis Budget Group Inc. (NASDAQ:CAR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,841 shares of the business services provider’s stock, valued at approximately $344,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Thrivent Financial For Lutherans increased its holdings in Avis Budget Group by 3.6% in the second quarter. Thrivent Financial For Lutherans now owns 16,820 shares of the business services provider’s stock worth $459,000 after buying an additional 580 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Avis Budget Group by 43.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,117 shares of the business services provider’s stock worth $181,000 after buying an additional 1,242 shares during the last quarter. New York State Common Retirement Fund increased its holdings in Avis Budget Group by 1.7% in the third quarter. New York State Common Retirement Fund now owns 90,399 shares of the business services provider’s stock worth $3,441,000 after buying an additional 1,494 shares during the last quarter. First Republic Investment Management Inc. increased its holdings in Avis Budget Group by 2.1% in the third quarter. First Republic Investment Management Inc. now owns 84,853 shares of the business services provider’s stock worth $3,229,000 after buying an additional 1,777 shares during the last quarter. Finally, ING Groep NV increased its holdings in Avis Budget Group by 21.4% in the fourth quarter. ING Groep NV now owns 10,812 shares of the business services provider’s stock worth $474,000 after buying an additional 1,904 shares during the last quarter.

In other news, SVP David T. Calabria sold 1,250 shares of the stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $41.71, for a total value of $52,137.50. Following the completion of the sale, the senior vice president now directly owns 4,412 shares of the company’s stock, valued at $184,024.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Ronald L. Nelson sold 275,000 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $40.22, for a total value of $11,060,500.00. Following the completion of the sale, the chairman now directly owns 473,214 shares of the company’s stock, valued at $19,032,667.08. The disclosure for this sale can be found here. Insiders have sold 463,750 shares of company stock valued at $18,702,638 in the last ninety days. Company insiders own 2.80% of the company’s stock.

Shares of Avis Budget Group Inc. (NASDAQ:CAR) opened at $40.98 on Monday. The stock has a market capitalization of $3,340.00, a P/E ratio of 30.36 and a beta of 2.45. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 35.24. Avis Budget Group Inc. has a 12-month low of $20.71 and a 12-month high of $49.41.

A number of research firms recently commented on CAR. Barclays increased their price objective on Avis Budget Group from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 1st. ValuEngine upgraded Avis Budget Group from a “hold” rating to a “buy” rating in a report on Monday, December 11th. Northcoast Research reaffirmed a “buy” rating on shares of Avis Budget Group in a research report on Tuesday, November 7th. Zacks Investment Research raised Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Tuesday, January 23rd. Finally, Deutsche Bank decreased their target price on Avis Budget Group from $49.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $37.70.

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Avis Budget Group 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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