New Jersey Better Educational Savings Trust held its stake in Avis Budget Group, Inc. (NASDAQ:CAR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,000 shares of the business services provider’s stock at the end of the second quarter. New Jersey Better Educational Savings Trust’s holdings in Avis Budget Group were worth $327,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. FNY Managed Accounts LLC purchased a new stake in Avis Budget Group during the first quarter valued at $102,000. James Investment Research Inc. purchased a new stake in Avis Budget Group during the first quarter valued at $113,000. World Asset Management Inc raised its stake 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 valued at $221,000 after buying an additional 610 shares during the period. LS Investment Advisors LLC raised its stake 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 valued at $232,000 after buying an additional 1,699 shares during the period. Finally, ZWJ Investment Counsel Inc. purchased a new stake in Avis Budget Group during the first quarter valued at $254,000.

Shares of Avis Budget Group, Inc. (NASDAQ:CAR) opened at 34.79 on Friday. Avis Budget Group, Inc. has a 12 month low of $20.71 and a 12 month high of $41.53. The stock’s 50 day moving average is $30.34 and its 200 day moving average is $29.78. The company has a market cap of $2.88 billion, a P/E ratio of 40.98 and a beta of 2.49.

Avis Budget Group (NASDAQ:CAR) last released its earnings results on Monday, August 7th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.32. Avis Budget Group had a net margin of 0.86% and a return on equity of 74.80%. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the previous year, the firm earned $0.63 EPS. The firm’s revenue was down .2% on a year-over-year basis. On average, analysts anticipate that Avis Budget Group, Inc. will post $2.70 EPS for the current fiscal year.

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Several equities research analysts have weighed in on the stock. J P Morgan Chase & Co assumed coverage on shares of Avis Budget Group in a report on Friday, August 4th. They issued an “overweight” rating and a $39.00 target price on the stock. Zacks Investment Research lowered shares of Avis Budget Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. ValuEngine lowered shares of Avis Budget Group from a “buy” rating to a “hold” rating in a report on Monday, August 7th. BidaskClub upgraded shares of Avis Budget Group from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $45.00 target price on shares of Avis Budget Group in a report on Wednesday, June 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $36.40.

In related news, Director John D. Jr. Hardy sold 908 shares of the business’s stock in a transaction on Friday, August 11th. The shares were 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 approximately $29,764.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.80% of the stock is 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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Institutional Ownership by Quarter for Avis Budget Group (NASDAQ:CAR)

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