UBS Oconnor LLC reduced its position in Avis Budget Group, Inc. (NASDAQ:CAR) by 46.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 80,000 shares of the business services provider’s stock after selling 70,000 shares during the quarter. UBS Oconnor LLC owned about 0.10% of Avis Budget Group worth $2,182,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Avis Budget Group by 18.0% in the second quarter. BlackRock Inc. now owns 8,895,289 shares of the business services provider’s stock worth $242,574,000 after buying an additional 1,355,238 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Avis Budget Group by 16.5% during 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 during the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of Avis Budget Group by 7.0% during 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 during the last quarter. Nomura Holdings Inc. grew its holdings in shares of Avis Budget Group by 14.0% during 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 during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Avis Budget Group by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 4,450,238 shares of the business services provider’s stock valued at $121,357,000 after buying an additional 211,618 shares during the last quarter.

In other news, EVP Edward P. Linnen sold 3,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $36.09, for a total transaction of $108,270.00. Following the transaction, the executive vice president now directly owns 17,919 shares in the company, valued at $646,696.71. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John D. Jr. Hardy sold 908 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $32.78, for a total transaction of $29,764.24. Following the transaction, the director now owns 908 shares in the company, valued at $29,764.24. The disclosure for this sale can be found here. Insiders sold a total of 185,708 shares of company stock worth $6,878,212 over the last three months. 2.80% of the stock is currently owned by corporate insiders.

Avis Budget Group, Inc. (NASDAQ:CAR) traded up 0.76% during trading on Monday, hitting $38.35. 167,484 shares of the company traded hands. The company’s 50-day moving average is $34.23 and its 200 day moving average is $29.41. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of 45.17 and a beta of 2.48. Avis Budget Group, Inc. has a 52-week low of $20.71 and a 52-week high of $41.53.

Avis Budget Group (NASDAQ:CAR) last released 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). Avis Budget Group had a return on equity of 74.80% and a net margin of 0.86%. The company had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter last year, the company earned $0.63 EPS. Avis Budget Group’s revenue for the quarter was down .2% compared to the same quarter last year. On average, equities analysts anticipate that Avis Budget Group, Inc. will post $2.57 earnings per share for the current year.

WARNING: This article was originally reported by Watch List News and is owned by of Watch List News. If you are accessing this article on another publication, it was illegally copied and republished in violation of US & international copyright & trademark law. The original version of this article can be viewed at https://www.watchlistnews.com/ubs-oconnor-llc-has-2-18-million-holdings-in-avis-budget-group-inc-car/1603193.html.

A number of equities analysts recently issued reports on the company. BidaskClub upgraded Avis Budget Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 14th. Zacks Investment Research upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. ValuEngine lowered Avis Budget Group from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Deutsche Bank AG reissued a “buy” rating and issued a $45.00 price objective on shares of Avis Budget Group in a report on Wednesday, June 14th. Finally, J P Morgan Chase & Co assumed coverage on Avis Budget Group in a research note on Friday, August 4th. They issued an “overweight” rating and a $39.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $36.50.

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.

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).

Institutional Ownership by Quarter for Avis Budget Group (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.