Credit Agricole S A Has $528,000 Position in Avis Budget Group Inc. (CAR)
Credit Agricole S A cut its stake in shares of Avis Budget Group Inc. (NASDAQ:CAR) by 9.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,391 shares of the company’s stock after selling 1,529 shares during the period. Credit Agricole S A’s holdings in Avis Budget Group were worth $528,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of CAR. Morgan Stanley raised its stake in Avis Budget Group by 2.7% in the third quarter. Morgan Stanley now owns 7,543,319 shares of the company’s stock valued at $258,056,000 after buying an additional 196,981 shares during the last quarter. BlackRock Investment Management LLC raised its stake in Avis Budget Group by 707.6% in the third quarter. BlackRock Investment Management LLC now owns 264,142 shares of the company’s stock valued at $9,036,000 after buying an additional 231,433 shares during the last quarter. Prudential Financial Inc. raised its stake in Avis Budget Group by 3,547.9% in the third quarter. Prudential Financial Inc. now owns 330,021 shares of the company’s stock valued at $11,290,000 after buying an additional 320,974 shares during the last quarter. First Trust Advisors LP bought a new stake in Avis Budget Group during the third quarter valued at about $6,786,000. Finally, Quantbot Technologies LP bought a new stake in Avis Budget Group during the third quarter valued at about $1,182,000.
Shares of Avis Budget Group Inc. (NASDAQ:CAR) opened at 32.03 on Tuesday. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of 18.30 and a beta of 2.03. Avis Budget Group Inc. has a 52 week low of $21.85 and a 52 week high of $41.53. The company’s 50 day moving average price is $35.24 and its 200-day moving average price is $36.06.
Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings data on Wednesday, February 15th. The company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by $0.02. Avis Budget Group had a return on equity of 68.51% and a net margin of 2.18%. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Analysts anticipate that Avis Budget Group Inc. will post $3.42 earnings per share for the current fiscal year.
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CAR has been the subject of several analyst reports. TheStreet raised Avis Budget Group from a “hold” rating to a “buy” rating in a research note on Monday, November 28th. Zacks Investment Research raised Avis Budget Group from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research note on Wednesday, January 4th. Credit Suisse Group AG lowered Avis Budget Group from an “outperform” rating to a “neutral” rating and set a $38.00 price objective for the company. in a research note on Friday, February 17th. MKM Partners set a $47.00 price objective on Avis Budget Group and gave the company a “buy” rating in a research note on Thursday, December 15th. Finally, Barclays PLC set a $36.00 price objective on Avis Budget Group and gave the company a “hold” rating in a research note on Saturday, February 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $36.07.
In other Avis Budget Group news, Director John D. Jr. Hardy sold 870 shares of the business’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $34.16, for a total transaction of $29,719.20. Following the completion of the sale, the director now directly owns 870 shares in the company, valued at approximately $29,719.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.80% of the stock is currently owned by insiders.
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.
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