Gargoyle Investment Advisor L.L.C. Holds Stake in Avis Budget Group, Inc. (CAR)
Gargoyle Investment Advisor L.L.C. maintained its position in Avis Budget Group, Inc. (NASDAQ:CAR) during the second quarter, Holdings Channel reports. The fund owned 17,900 shares of the business services provider’s stock at the end of the second quarter. Gargoyle Investment Advisor L.L.C.’s holdings in Avis Budget Group were worth $488,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of CAR. FNY Managed Accounts LLC bought a new position in shares of Avis Budget Group during the first quarter worth about $102,000. James Investment Research Inc. bought a new position in shares of Avis Budget Group during the first quarter worth about $113,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Avis Budget Group during the second quarter worth about $191,000. World Asset Management Inc boosted its position in shares of Avis Budget Group by 8.9% in the first quarter. World Asset Management Inc now owns 7,474 shares of the business services provider’s stock worth $221,000 after buying an additional 610 shares during the last quarter. Finally, LS Investment Advisors LLC boosted its position in shares of Avis Budget Group by 27.6% in the first quarter. LS Investment Advisors LLC now owns 7,857 shares of the business services provider’s stock worth $232,000 after buying an additional 1,699 shares during the last quarter.
Avis Budget Group, Inc. (NASDAQ:CAR) opened at 34.94 on Tuesday. Avis Budget Group, Inc. has a 52-week low of $20.71 and a 52-week high of $41.53. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 41.15 and a beta of 2.49. The stock has a 50 day moving average price of $30.64 and a 200 day moving average price of $29.63.
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 for the quarter, missing the consensus estimate of $0.62 by $0.32. Avis Budget Group had a return on equity of 74.80% and a net margin of 0.86%. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the prior year, the firm earned $0.63 EPS. The business’s revenue for the quarter was down .2% compared to the same quarter last year. Analysts anticipate that Avis Budget Group, Inc. will post $2.57 EPS for the current fiscal year.
CAR has been the subject of a number of recent research reports. Credit Suisse Group dropped their target price on Avis Budget Group from $38.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, May 15th. Raymond James Financial, Inc. upgraded Avis Budget Group from a “market perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a research report on Tuesday, May 9th. ValuEngine lowered Avis Budget Group from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Deutsche Bank AG restated a “buy” rating on shares of Avis Budget Group in a research report on Monday, June 26th. Finally, MKM Partners restated a “buy” rating and set a $40.00 price target on shares of Avis Budget Group in a research report on Wednesday, June 28th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $36.40.
In other Avis Budget Group news, Director John D. Jr. Hardy sold 908 shares of the company’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 sale, the director now owns 908 shares of the company’s stock, valued at $29,764.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.80% of the company’s stock.
About Avis Budget Group
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.
Want to see what other hedge funds are holding CAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avis Budget Group, Inc. (NASDAQ:CAR).
Receive News & Ratings for Avis Budget Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avis Budget Group Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.