SG Americas Securities LLC boosted its stake in Avis Budget Group, Inc. (NASDAQ:CAR – Free Report) by 5,264.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,968 shares of the business services provider’s stock after buying an additional 99,086 shares during the quarter. SG Americas Securities LLC’s holdings in Avis Budget Group were worth $12,956,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Deseret Mutual Benefit Administrators increased its stake in Avis Budget Group by 102.3% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 174 shares of the business services provider’s stock worth $28,000 after buying an additional 88 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Avis Budget Group by 136.4% during the third quarter. Hantz Financial Services Inc. now owns 253 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 146 shares during the last quarter. American Wealth Advisors LLC purchased a new position in shares of Avis Budget Group in the third quarter valued at approximately $41,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Avis Budget Group by 26.5% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 363 shares of the business services provider’s stock valued at $58,000 after acquiring an additional 76 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Avis Budget Group by 19.6% in 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. 96.35% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts recently commented on CAR shares. The Goldman Sachs Group set a $85.00 price target on Avis Budget Group in a research report on Monday, February 23rd. Morgan Stanley decreased their price objective on Avis Budget Group from $142.00 to $97.00 and set an “equal weight” rating on the stock in a report on Friday, March 6th. Wall Street Zen cut shares of Avis Budget Group from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Zacks Research lowered shares of Avis Budget Group from a “hold” rating to a “strong sell” rating in a report on Thursday, February 19th. Finally, Barclays reduced their target price on shares of Avis Budget Group from $120.00 to $95.00 and set an “equal weight” rating for the company in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, Avis Budget Group presently has a consensus rating of “Reduce” and an average price target of $124.71.
Avis Budget Group Stock Up 6.4%
Shares of CAR opened at $148.45 on Friday. Avis Budget Group, Inc. has a 52-week low of $62.17 and a 52-week high of $212.81. The company has a market capitalization of $5.23 billion, a PE ratio of -5.85 and a beta of 2.32. The stock has a fifty day simple moving average of $110.42 and a two-hundred day simple moving average of $130.08.
Avis Budget Group News Roundup
Here are the key news stories impacting Avis Budget Group this week:
- Positive Sentiment: Airport gridlock and TSA staffing issues have lifted demand for rental cars, helping lift CAR shares and fundamentals in the near term. Hertz and Avis rally as airport gridlock fuels demand for car rentals
- Positive Sentiment: Investor interest in a potential short squeeze and broader travel-related demand helped push the stock higher earlier; caution noted around oil price direction. Why Avis Budget Group Stock Zoomed Ahead Today
- Neutral Sentiment: Some market commentators urged caution, suggesting the rally may be overextended and recommending alternative trades. Fade the Rally in Avis Stock & Buy Hertz’s Instead?
- Negative Sentiment: Management announced an at‑the‑market equity offering program (Equity Distribution Agreement), a potentially dilutive move that often pressures shares. Avis Budget Launches At-the-Market Equity Offering Program
- Negative Sentiment: The stock fell after‑hours following the company’s ATM offering news and other headlines, driving intraday reversal risk. Avis Budget stock tanks after hours – what’s driving it down?
- Negative Sentiment: An analyst cut CAR’s price target by ~12.6%, signaling reduced near‑term expectations from at least one sell‑side player. Avis Budget Group (CAR) price target decreased by 12.64% to 105.74
- Negative Sentiment: A Trump administration TSA payment order and related headlines created regulatory/operational uncertainty that weighed on shares earlier in the day. Avis and Hertz shares fall on Trump TSA payment order
- Negative Sentiment: A shareholder‑protection firm flagged a probe alleging differences between adjusted EBITDA commentary and GAAP results, adding legal/ reputational risk. Car Shareholders Lost Money? Levi & Korsinsky, LLP Probes Reported Vs.
Insider Transactions at Avis Budget Group
In other Avis Budget Group news, Director Lynn Krominga sold 1,950 shares of Avis Budget Group stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $91.54, for a total transaction of $178,503.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Pentwater Capital Management L bought 425,000 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was purchased at an average price of $94.26 per share, for a total transaction of $40,060,500.00. Following the completion of the acquisition, the insider directly owned 3,987,100 shares in the company, valued at $375,824,046. The trade was a 11.93% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 52.80% of the company’s stock.
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.
See Also
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