California Public Employees Retirement System lowered its holdings in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 1.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 389,133 shares of the business services provider’s stock after selling 4,600 shares during the period. California Public Employees Retirement System owned about 0.46% of Avis Budget Group worth $10,612,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. FMR LLC increased its position in shares of Avis Budget Group by 815.5% during the second quarter. FMR LLC now owns 1,779,701 shares of the business services provider’s stock worth $48,532,000 after buying an additional 1,585,301 shares during the period. Northern Trust Corp increased its position in shares of Avis Budget Group by 73.9% during the second quarter. Northern Trust Corp now owns 1,325,555 shares of the business services provider’s stock worth $36,148,000 after buying an additional 563,438 shares during the period. Menta Capital LLC acquired a new stake in shares of Avis Budget Group during the second quarter worth $941,000. Mutual of America Capital Management LLC increased its position in shares of Avis Budget Group by 5.1% during the second quarter. Mutual of America Capital Management LLC now owns 71,100 shares of the business services provider’s stock worth $1,939,000 after buying an additional 3,447 shares during the period. Finally, Thrivent Financial For Lutherans increased its position in shares of Avis Budget Group by 3.6% during 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 period.

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

Shares of Avis Budget Group, Inc. (NASDAQ CAR) opened at 38.89 on Friday. Avis Budget Group, Inc. has a 12-month low of $20.71 and a 12-month high of $41.53. The firm has a 50-day moving average of $36.33 and a 200-day moving average of $29.98. The firm has a market capitalization of $3.21 billion, a PE ratio of 45.81 and a beta of 2.48.

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

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Several research firms have recently weighed in on CAR. ValuEngine upgraded shares of Avis Budget Group from a “hold” rating to a “buy” rating in a research report on Thursday. Deutsche Bank AG reiterated a “buy” rating and set a $49.00 price objective (up from $44.00) on shares of Avis Budget Group in a research report on Friday. B. Riley began coverage on shares of Avis Budget Group in a research report on Friday, September 22nd. They set a “buy” rating and a $36.00 price objective for the company. Credit Suisse Group reiterated a “hold” rating on shares of Avis Budget Group in a research report on Thursday, September 14th. Finally, BidaskClub upgraded shares of Avis Budget Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $36.33.

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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