Oregon Public Employees Retirement Fund boosted its position in Avis Budget Group, Inc. (NASDAQ:CAR) by 3.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 34,301 shares of the business services provider’s stock after buying an additional 1,301 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Avis Budget Group were worth $935,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. FNY Managed Accounts LLC purchased a new position in shares of Avis Budget Group during the first quarter worth about $102,000. James Investment Research Inc. bought a new position in Avis Budget Group during the first quarter valued at about $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 valued at $221,000 after buying an additional 610 shares in the last quarter. 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 valued at $232,000 after buying an additional 1,699 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. bought a new position in Avis Budget Group during the first quarter valued at about $254,000.
Shares of Avis Budget Group, Inc. (NASDAQ:CAR) traded up 4.21% during trading on Friday, hitting $32.21. 3,818,459 shares of the stock traded hands. The stock has a 50 day moving average of $28.18 and a 200 day moving average of $29.89. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 27.25 and a beta of 2.49. 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 issued its quarterly earnings results on Wednesday, May 3rd. The business services provider reported ($0.94) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.51) by $0.43. Avis Budget Group had a return on equity of 74.55% and a net margin of 1.24%. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the previous year, the firm posted ($0.28) EPS. Avis Budget Group’s revenue was down 2.2% on a year-over-year basis. Analysts expect that Avis Budget Group, Inc. will post $2.84 EPS for the current year.
WARNING: “Oregon Public Employees Retirement Fund Has $935,000 Stake in Avis Budget Group, Inc. (NASDAQ:CAR)” was first posted by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright and trademark legislation. The legal version of this news story can be read at https://stocknewstimes.com/2017/08/05/oregon-public-employees-retirement-fund-has-935000-stake-in-avis-budget-group-inc-nasdaqcar.html.
Several equities analysts have issued reports on CAR shares. Deutsche Bank AG restated a “buy” rating and set a $45.00 target price on shares of Avis Budget Group in a research note on Wednesday, June 14th. ValuEngine upgraded shares of Avis Budget Group from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. MKM Partners restated a “buy” rating and set a $40.00 target price on shares of Avis Budget Group in a research note on Wednesday, June 28th. BidaskClub upgraded shares of Avis Budget Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Finally, Zacks Investment Research upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $36.40.
In related news, Director John D. Jr. Hardy sold 992 shares of Avis Budget Group stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $27.20, for a total transaction of $26,982.40. Following the completion of the sale, the director now owns 992 shares of the company’s stock, valued at $26,982.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.80% of the company’s stock.
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.
Want to see what other hedge funds are holding CAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avis Budget Group, Inc. (NASDAQ:CAR).
Receive News & Ratings for Avis Budget Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avis Budget Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
