Quadrature Capital Ltd Purchases 8,370 Shares of Avis Budget Group, Inc. $CAR

Quadrature Capital Ltd raised its position in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 48.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,806 shares of the business services provider’s stock after buying an additional 8,370 shares during the period. Quadrature Capital Ltd owned about 0.07% of Avis Budget Group worth $4,363,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Fifth Third Bancorp raised its stake in shares of Avis Budget Group by 32.6% during the second quarter. Fifth Third Bancorp now owns 228 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 56 shares during the last quarter. State of Michigan Retirement System grew its stake in shares of Avis Budget Group by 2.5% in the second quarter. State of Michigan Retirement System now owns 4,073 shares of the business services provider’s stock worth $689,000 after purchasing an additional 100 shares during the last quarter. Retirement Systems of Alabama increased its holdings in Avis Budget Group by 0.6% during the 2nd quarter. Retirement Systems of Alabama now owns 20,646 shares of the business services provider’s stock valued at $3,490,000 after purchasing an additional 117 shares during the period. Quadrant Capital Group LLC raised its position in Avis Budget Group by 4.7% during the 2nd quarter. Quadrant Capital Group LLC now owns 2,624 shares of the business services provider’s stock valued at $444,000 after purchasing an additional 117 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in Avis Budget Group by 0.4% in the 2nd quarter. Legal & General Group Plc now owns 31,047 shares of the business services provider’s stock worth $5,248,000 after buying an additional 118 shares during the period. Institutional investors own 96.35% of the company’s stock.

Avis Budget Group Stock Up 1.4%

NASDAQ CAR opened at $135.88 on Friday. The firm has a market capitalization of $4.78 billion, a PE ratio of -2.27 and a beta of 2.12. The stock’s 50 day moving average is $145.75 and its 200 day moving average is $151.17. Avis Budget Group, Inc. has a twelve month low of $54.03 and a twelve month high of $212.81.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings data on Monday, October 27th. The business services provider reported $10.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.11 by $2.00. The firm had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter last year, the company posted $6.65 EPS. Avis Budget Group’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, research analysts anticipate that Avis Budget Group, Inc. will post 8.91 earnings per share for the current year.

Wall Street Analyst Weigh In

CAR has been the topic of a number of recent analyst reports. Barclays cut their price objective on Avis Budget Group from $150.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Monday, November 3rd. Zacks Research raised Avis Budget Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th. The Goldman Sachs Group reissued a “sell” rating and set a $105.00 price objective (up from $87.00) on shares of Avis Budget Group in a research report on Friday, August 1st. Susquehanna decreased their price objective on shares of Avis Budget Group from $145.00 to $130.00 and set a “neutral” rating for the company in a report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of Avis Budget Group from $155.00 to $157.00 and gave the stock a “neutral” rating in a research report on Monday, October 20th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $136.83.

Avis Budget Group Company Profile

Avis Budget Group, Inc engages in the provision of vehicle sharing and rental services. It operates through the following segments: Americas, International, and Corporate and Other. The Americas segment includes the vehicle rental and car sharing operations in North America, South America, Central America, and the Caribbean.