Diversify Advisory Services LLC Invests $254,000 in Avis Budget Group, Inc. (NASDAQ:CAR)

Diversify Advisory Services LLC purchased a new stake in Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,000 shares of the business services provider's stock, valued at approximately $254,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new stake in shares of Avis Budget Group in the second quarter worth approximately $901,000. Toronto Dominion Bank purchased a new stake in Avis Budget Group in the 2nd quarter worth approximately $10,452,000. Point72 Hong Kong Ltd purchased a new stake in Avis Budget Group in the 2nd quarter worth approximately $203,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Avis Budget Group during the 2nd quarter valued at $75,000. Finally, Algert Global LLC grew its holdings in shares of Avis Budget Group by 2.5% during the 2nd quarter. Algert Global LLC now owns 10,165 shares of the business services provider's stock valued at $1,062,000 after acquiring an additional 245 shares in the last quarter. Institutional investors and hedge funds own 96.35% of the company's stock.

Avis Budget Group Trading Down 1.0 %

CAR stock traded down $0.90 during trading on Friday, reaching $90.02. 323,652 shares of the stock were exchanged, compared to its average volume of 555,867. The stock has a 50 day simple moving average of $92.54 and a 200-day simple moving average of $89.81. Avis Budget Group, Inc. has a twelve month low of $65.73 and a twelve month high of $176.79. The company has a market capitalization of $3.16 billion, a P/E ratio of 8.22 and a beta of 2.25.

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CAR. Northcoast Research cut Avis Budget Group from a "buy" rating to a "neutral" rating in a research report on Monday, November 18th. Deutsche Bank Aktiengesellschaft reduced their price target on Avis Budget Group from $145.00 to $143.00 and set a "buy" rating for the company in a report on Tuesday, November 5th. The Goldman Sachs Group raised their price objective on shares of Avis Budget Group from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. decreased their target price on shares of Avis Budget Group from $175.00 to $150.00 and set an "overweight" rating for the company in a research report on Monday, November 4th. Finally, StockNews.com upgraded shares of Avis Budget Group from a "sell" rating to a "hold" rating in a report on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $133.75.

About Avis Budget Group

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.