ING Groep NV purchased a new position in shares of Avis Budget Group, Inc. (NASDAQ:CAR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 10,247 shares of the business services provider’s stock, valued at approximately $279,000.

A number of other large investors have also added to or reduced their stakes in the stock. FNY Managed Accounts LLC purchased a new position in Avis Budget Group during the first quarter worth $102,000. James Investment Research Inc. purchased a new position in Avis Budget Group during the first quarter worth $113,000. World Asset Management Inc boosted its position in 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 period. LS Investment Advisors LLC boosted its position in 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 period. Finally, ZWJ Investment Counsel Inc. purchased a new position in Avis Budget Group during the first quarter worth $254,000.

Avis Budget Group, Inc. (NASDAQ CAR) traded up 6.19% on Friday, hitting $34.29. 1,844,050 shares of the stock were exchanged. The firm has a market cap of $2.83 billion, a PE ratio of 40.39 and a beta of 2.49. The stock’s 50 day moving average price is $30.00 and its 200 day moving average price is $29.79. 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 posted its earnings results on Monday, August 7th. The business services provider reported $0.30 earnings per share 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 analyst estimates of $2.27 billion. Avis Budget Group had a net margin of 0.86% and a return on equity of 74.80%. The firm’s revenue for the quarter was down .2% on a year-over-year basis. During the same period last year, the company posted $0.63 EPS. Equities research analysts forecast that Avis Budget Group, Inc. will post $2.70 earnings per share for the current year.

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CAR has been the topic of a number of analyst reports. Credit Suisse Group cut their price objective 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 Monday, May 15th. Raymond James Financial, Inc. upgraded shares of Avis Budget Group from a “market perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a research report on Tuesday, May 9th. ValuEngine cut shares of Avis Budget Group from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Deutsche Bank AG reiterated a “buy” rating on shares of Avis Budget Group in a research report on Monday, June 26th. Finally, MKM Partners reiterated a “buy” rating and set a $40.00 price objective on shares of Avis Budget Group in a research report on Wednesday, June 28th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target 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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