Avis Budget Group, Inc. (NASDAQ:CAR) Shares Acquired by Barclays PLC

Barclays PLC boosted its stake in shares of Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 30.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 200,576 shares of the business services provider's stock after buying an additional 46,922 shares during the period. Barclays PLC owned 0.57% of Avis Budget Group worth $17,571,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CAR. SummerHaven Investment Management LLC raised its position in shares of Avis Budget Group by 4.5% during the 2nd quarter. SummerHaven Investment Management LLC now owns 3,223 shares of the business services provider's stock valued at $337,000 after buying an additional 138 shares during the period. Strategic Investment Solutions Inc. IL raised its position in Avis Budget Group by 198.3% in the third quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider's stock valued at $32,000 after purchasing an additional 240 shares during the period. Algert Global LLC lifted its stake in shares of Avis Budget Group by 2.5% in the 2nd quarter. Algert Global LLC now owns 10,165 shares of the business services provider's stock valued at $1,062,000 after purchasing an additional 245 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Avis Budget Group by 13.7% during the 2nd quarter. International Assets Investment Management LLC now owns 2,492 shares of the business services provider's stock worth $260,000 after purchasing an additional 300 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in shares of Avis Budget Group by 293.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider's stock worth $36,000 after purchasing an additional 305 shares during the last quarter. 96.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of 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 shares of Avis Budget Group from a "sell" rating to a "hold" rating in a research report on Monday, November 4th. Northcoast Research downgraded shares of Avis Budget Group from a "buy" rating to a "neutral" rating in a report on Monday, November 18th. Barclays initiated coverage on Avis Budget Group in a research note on Thursday, September 19th. They set an "equal weight" rating and a $105.00 price target on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on Avis Budget Group from $175.00 to $150.00 and set an "overweight" rating for the company in a research note on Monday, November 4th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Avis Budget Group presently has an average rating of "Hold" and an average target price of $133.75.

Avis Budget Group Stock Performance

Shares of Avis Budget Group stock traded down $3.90 during trading hours on Friday, reaching $92.19. 432,011 shares of the company were exchanged, compared to its average volume of 710,070. The firm has a market cap of $3.24 billion, a PE ratio of 8.42 and a beta of 2.20. The stock's fifty day moving average is $93.78 and its 200 day moving average is $94.27. Avis Budget Group, Inc. has a 1 year low of $65.73 and a 1 year high of $202.50.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The business services provider reported $6.65 earnings per share for the quarter, missing the consensus estimate of $8.55 by ($1.90). The company had revenue of $3.48 billion for the quarter, compared to analysts' expectations of $3.53 billion. Avis Budget Group had a negative return on equity of 101.41% and a net margin of 3.34%. Avis Budget Group's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $16.78 EPS. Research analysts expect that Avis Budget Group, Inc. will post 3.59 earnings per share for the current year.

Avis Budget Group Profile

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers in the Americas, Europe, the Middle East and Africa, Asia, and Australasia. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; and the Zipcar brand, a car sharing network, as well as the Budget brand, a supplier of vehicle rental and other mobility solutions focused primarily on more value-conscious customers comprising Budget car rental, and Budget Truck, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of dealer-operated and company-operated locations that serve the light commercial and consumer sectors in the continental United States.