Centiva Capital LP Increases Stock Position in Avis Budget Group, Inc. (NASDAQ:CAR)

Centiva Capital LP lifted its stake in shares of Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 101.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,025 shares of the business services provider's stock after acquiring an additional 10,068 shares during the period. Centiva Capital LP owned 0.06% of Avis Budget Group worth $1,754,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CAR. Price T Rowe Associates Inc. MD increased its stake in Avis Budget Group by 3.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,593 shares of the business services provider's stock valued at $1,420,000 after purchasing an additional 337 shares in the last quarter. Central Valley Advisors LLC bought a new stake in shares of Avis Budget Group in the 2nd quarter worth $25,000. Diversify Advisory Services LLC bought a new stake in shares of Avis Budget Group in the 2nd quarter worth $306,000. Assenagon Asset Management S.A. bought a new stake in shares of Avis Budget Group in the 2nd quarter worth $19,978,000. Finally, Lecap Asset Management Ltd. bought a new stake in shares of Avis Budget Group in the 2nd quarter worth $1,400,000. Institutional investors and hedge funds own 96.35% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CAR shares. Northcoast Research lowered shares of Avis Budget Group from a "buy" rating to a "neutral" rating in a research note 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 on the stock in a report on Monday, November 4th. Susquehanna dropped their price objective on shares of Avis Budget Group from $120.00 to $95.00 and set a "neutral" rating on the stock in a report on Friday, August 9th. The Goldman Sachs Group lowered their price target on shares of Avis Budget Group from $105.00 to $90.00 and set a "neutral" rating on the stock in a report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Avis Budget Group from $145.00 to $143.00 and set a "buy" rating on the stock in a report on Tuesday, November 5th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Avis Budget Group currently has a consensus rating of "Hold" and an average price target of $133.13.

Avis Budget Group Price Performance

NASDAQ:CAR traded down $1.42 during mid-day trading on Wednesday, reaching $101.47. 518,484 shares of the company's stock traded hands, compared to its average volume of 717,221. Avis Budget Group, Inc. has a 12-month low of $65.73 and a 12-month high of $204.77. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of 9.27 and a beta of 2.20. The company has a 50 day moving average price of $92.11 and a 200-day moving average price of $95.09.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.53 billion. Avis Budget Group had a net margin of 3.34% and a negative return on equity of 101.41%. The business's revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $16.78 earnings per share. As a group, analysts forecast that Avis Budget Group, Inc. will post 3.59 EPS 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.