Avis Budget Group, Inc. (NASDAQ:CAR) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its holdings in Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 139.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 379,805 shares of the business services provider's stock after buying an additional 221,456 shares during the quarter. Assenagon Asset Management S.A. owned approximately 1.08% of Avis Budget Group worth $30,616,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. FMR LLC increased its position in shares of Avis Budget Group by 4.0% during the third quarter. FMR LLC now owns 3,354,546 shares of the business services provider's stock worth $293,825,000 after purchasing an additional 129,805 shares in the last quarter. Rubric Capital Management LP raised its stake in Avis Budget Group by 220.9% during the 2nd quarter. Rubric Capital Management LP now owns 690,273 shares of the business services provider's stock valued at $72,147,000 after acquiring an additional 475,181 shares during the last quarter. State Street Corp lifted its position in Avis Budget Group by 2.5% during the 3rd quarter. State Street Corp now owns 672,227 shares of the business services provider's stock worth $58,880,000 after acquiring an additional 16,221 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Avis Budget Group by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 592,341 shares of the business services provider's stock valued at $51,883,000 after purchasing an additional 2,561 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Avis Budget Group by 19,203.5% in the third quarter. International Assets Investment Management LLC now owns 481,044 shares of the business services provider's stock valued at $421,350,000 after purchasing an additional 478,552 shares during the period. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Avis Budget Group Price Performance

CAR stock traded up $1.50 during midday trading on Friday, hitting $90.18. The stock had a trading volume of 1,165,507 shares, compared to its average volume of 607,937. Avis Budget Group, Inc. has a 12-month low of $65.73 and a 12-month high of $176.79. The company's 50-day moving average price is $93.19 and its 200 day moving average price is $90.33. The firm has a market cap of $3.17 billion, a PE ratio of 8.24 and a beta of 2.25.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The business services provider reported $6.65 earnings per share for the quarter, missing analysts' consensus estimates of $8.55 by ($1.90). The company had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.53 billion. Avis Budget Group had a net margin of 3.34% and a negative return on equity of 101.41%. The firm's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter last year, the business earned $16.78 EPS. As a group, sell-side analysts anticipate that Avis Budget Group, Inc. will post 3.68 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Northcoast Research downgraded Avis Budget Group from a "buy" rating to a "neutral" rating in a report on Monday, November 18th. JPMorgan Chase & Co. cut their price target on shares of Avis Budget Group from $175.00 to $150.00 and set an "overweight" rating for the company in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft dropped their target price on Avis Budget Group from $145.00 to $143.00 and set a "buy" rating on the stock in a research report on Tuesday, November 5th. StockNews.com raised Avis Budget Group from a "sell" rating to a "hold" rating in a report on Monday, November 4th. Finally, Barclays assumed coverage on Avis Budget Group in a report on Thursday, September 19th. They issued an "equal weight" rating and a $105.00 target price for the company. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Avis Budget Group has an average rating of "Hold" and a consensus target price of $133.75.

Avis Budget Group Company Profile

Avis Budget Group, Inc engages in the provision of vehicle sharing and rental services. It operates through the following segments: Americas, International, and Corporate and Other. The Americas segment includes the vehicle rental and car sharing operations in North America, South America, Central America, and the Caribbean.