Universal Beteiligungs und Servicegesellschaft mbH Invests $2.73 Million in Avis Budget Group, Inc. $CAR

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Avis Budget Group, Inc. (NASDAQ:CAR) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,978 shares of the business services provider’s stock, valued at approximately $2,726,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its holdings in Avis Budget Group by 32.6% in the 2nd quarter. Fifth Third Bancorp now owns 228 shares of the business services provider’s stock worth $39,000 after buying an additional 56 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Avis Budget Group by 19.6% during the second quarter. EverSource Wealth Advisors LLC now owns 427 shares of the business services provider’s stock worth $72,000 after acquiring an additional 70 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Avis Budget Group by 125.7% in the second quarter. Allworth Financial LP now owns 474 shares of the business services provider’s stock worth $80,000 after acquiring an additional 264 shares in the last quarter. Vident Advisory LLC purchased a new position in Avis Budget Group in the second quarter valued at about $211,000. Finally, Penserra Capital Management LLC boosted its holdings in Avis Budget Group by 264.6% in the second quarter. Penserra Capital Management LLC now owns 1,258 shares of the business services provider’s stock valued at $212,000 after purchasing an additional 913 shares during the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CAR. Morgan Stanley restated an “equal weight” rating and set a $142.00 price objective (up from $115.00) on shares of Avis Budget Group in a report on Monday, December 8th. JPMorgan Chase & Co. lifted their price target on shares of Avis Budget Group from $155.00 to $157.00 and gave the stock a “neutral” rating in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Avis Budget Group in a report on Wednesday, January 21st. Zacks Research raised shares of Avis Budget Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. Finally, Barclays dropped their target price on shares of Avis Budget Group from $150.00 to $120.00 and set an “equal weight” rating for the company in a research report on Monday, November 3rd. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $137.57.

Avis Budget Group Stock Performance

Shares of NASDAQ:CAR opened at $115.67 on Friday. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of -1.93 and a beta of 2.31. Avis Budget Group, Inc. has a 1-year low of $54.03 and a 1-year high of $212.81. The company’s fifty day moving average is $128.72 and its two-hundred day moving average is $147.86.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings results on Monday, October 27th. The business services provider reported $10.11 EPS for the quarter, beating the consensus estimate of $8.11 by $2.00. The business had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same period last year, the firm posted $6.65 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis. Sell-side analysts expect that Avis Budget Group, Inc. will post 8.91 EPS for the current fiscal year.

Avis Budget Group Profile

Avis Budget Group, Inc operates as a leading global provider of vehicle rental and mobility solutions. Through its two core brands, Avis® and Budget®, the company offers a broad range of rental options including daily, weekly and monthly car rentals for leisure and business travelers. In addition to traditional airport and off-airport car rental services, Avis Budget Group delivers innovative mobility platforms such as car-sharing programs and connected fleet solutions designed to meet the evolving needs of corporate, government and individual customers.

The company’s roots trace back to Avis Rent a Car, founded in 1946, and Budget Rent a Car, established in 1958.