Harel Insurance Investments & Financial Services Ltd. bought a new stake in Avis Budget Group, Inc. (NASDAQ:CAR) during the second quarter, Holdings Channel reports. The fund bought 7,000 shares of the business services provider’s stock, valued at approximately $191,000.

Several other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Avis Budget Group by 13,924.6% in the first quarter. BlackRock Inc. now owns 7,540,051 shares of the business services provider’s stock valued at $223,034,000 after buying an additional 7,486,288 shares in the last quarter. Vanguard Group Inc. boosted its stake in Avis Budget Group by 16.5% in the first quarter. Vanguard Group Inc. now owns 7,340,105 shares of the business services provider’s stock valued at $217,121,000 after buying an additional 1,037,148 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its stake in Avis Budget Group by 7.0% in the second quarter. Diamond Hill Capital Management Inc. now owns 6,131,332 shares of the business services provider’s stock valued at $167,201,000 after buying an additional 401,401 shares in the last quarter. Nomura Holdings Inc. boosted its stake in Avis Budget Group by 14.0% in the first quarter. Nomura Holdings Inc. now owns 5,226,377 shares of the business services provider’s stock valued at $154,573,000 after buying an additional 641,295 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Avis Budget Group by 11.4% in the first quarter. Bank of New York Mellon Corp now owns 4,238,620 shares of the business services provider’s stock valued at $125,379,000 after buying an additional 432,113 shares in the last quarter.

Avis Budget Group, Inc. (NASDAQ CAR) opened at 32.29 on Friday. Avis Budget Group, Inc. has a 12 month low of $20.71 and a 12 month high of $41.53. The firm’s 50-day moving average is $30.00 and its 200-day moving average is $29.79. The firm has a market capitalization of $2.67 billion, a PE ratio of 38.03 and a beta of 2.49.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly 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 the consensus estimate of $2.27 billion. Avis Budget Group had a net margin of 0.86% and a return on equity of 74.80%. The company’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.63 EPS. On average, equities research analysts expect that Avis Budget Group, Inc. will post $2.70 EPS for the current year.

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Several equities research analysts recently issued reports on CAR shares. ValuEngine cut shares of Avis Budget Group from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research cut shares of Avis Budget Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. J P Morgan Chase & Co started 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. Credit Suisse Group reduced their price target on shares of Avis Budget Group from $38.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, May 5th. Finally, Raymond James Financial, Inc. raised shares of 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. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $36.40.

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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