Charles Schwab Investment Management Inc. Buys 17,473 Shares of Avis Budget Group, Inc. (NASDAQ:CAR)

Charles Schwab Investment Management Inc. raised its position in Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 9.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 203,274 shares of the business services provider's stock after buying an additional 17,473 shares during the period. Charles Schwab Investment Management Inc. owned 0.58% of Avis Budget Group worth $16,386,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ING Groep NV increased its stake in shares of Avis Budget Group by 310.4% in the fourth quarter. ING Groep NV now owns 325,000 shares of the business services provider's stock valued at $26,198,000 after buying an additional 245,800 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Avis Budget Group by 139.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 379,805 shares of the business services provider's stock valued at $30,616,000 after acquiring an additional 221,456 shares in the last quarter. Wolverine Asset Management LLC increased its position in Avis Budget Group by 870.6% in the 4th quarter. Wolverine Asset Management LLC now owns 162,771 shares of the business services provider's stock valued at $13,121,000 after acquiring an additional 146,000 shares in the last quarter. FMR LLC raised its stake in shares of Avis Budget Group by 4.0% in the third quarter. FMR LLC now owns 3,354,546 shares of the business services provider's stock worth $293,825,000 after acquiring an additional 129,805 shares during the last quarter. Finally, National Bank of Canada FI lifted its position in shares of Avis Budget Group by 1,858.7% during the third quarter. National Bank of Canada FI now owns 90,000 shares of the business services provider's stock worth $7,883,000 after purchasing an additional 85,405 shares in the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised their price target on shares of Avis Budget Group from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $133.75.

Insider Transactions at Avis Budget Group

In other news, Director Lynn Krominga sold 1,405 shares of the business's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $95.00, for a total value of $133,475.00. Following the completion of the transaction, the director now owns 1,950 shares of the company's stock, valued at $185,250. The trade was a 41.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 52.00% of the company's stock.

Avis Budget Group Stock Performance

CAR traded up $0.01 during trading on Monday, reaching $60.66. 1,333,868 shares of the company's stock were exchanged, compared to its average volume of 696,765. The company's fifty day moving average price is $81.82 and its 200-day moving average price is $86.05. The firm has a market capitalization of $2.13 billion, a PE ratio of -1.17 and a beta of 2.37. Avis Budget Group, Inc. has a fifty-two week low of $54.03 and a fifty-two week high of $132.25.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The business services provider reported ($0.23) EPS for the quarter, topping analysts' consensus estimates of ($0.50) by $0.27. Avis Budget Group had a negative return on equity of 14.74% and a negative net margin of 15.45%. Research analysts forecast that Avis Budget Group, Inc. will post 8.91 earnings per share for the current fiscal year.

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.