Intech Investment Management LLC Has $4.87 Million Position in Avis Budget Group, Inc. (NASDAQ:CAR)

Intech Investment Management LLC raised its position in Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 160.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,459 shares of the business services provider's stock after buying an additional 37,216 shares during the period. Intech Investment Management LLC owned 0.17% of Avis Budget Group worth $4,874,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CAR. GAMMA Investing LLC raised its stake in shares of Avis Budget Group by 118.8% in the fourth quarter. GAMMA Investing LLC now owns 337 shares of the business services provider's stock valued at $27,000 after acquiring an additional 183 shares during the last quarter. Signaturefd LLC increased its holdings in Avis Budget Group by 31.8% during the 4th quarter. Signaturefd LLC now owns 936 shares of the business services provider's stock valued at $75,000 after purchasing an additional 226 shares in the last quarter. Royce & Associates LP bought a new position in Avis Budget Group in the 3rd quarter valued at $217,000. US Bancorp DE boosted its stake in Avis Budget Group by 9.6% in the fourth quarter. US Bancorp DE now owns 2,984 shares of the business services provider's stock worth $241,000 after purchasing an additional 261 shares in the last quarter. Finally, Diversify Advisory Services LLC acquired a new position in Avis Budget Group in the fourth quarter worth $254,000. 96.35% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Avis Budget Group news, Director Lynn Krominga sold 661 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $95.00, for a total transaction of $62,795.00. Following the sale, the director now directly owns 3,355 shares in the company, valued at approximately $318,725. This trade represents a 16.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 52.00% of the stock is currently owned by company insiders.

Remove Ads

Analysts Set New Price Targets

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

Avis Budget Group Stock Up 4.7 %

NASDAQ:CAR traded up $2.73 during trading hours on Friday, hitting $60.65. 1,287,564 shares of the stock were exchanged, compared to its average volume of 694,207. Avis Budget Group, Inc. has a twelve month low of $54.03 and a twelve month high of $132.25. The company has a market capitalization of $2.13 billion, a P/E ratio of -1.17 and a beta of 2.37. The company's 50 day moving average is $81.82 and its two-hundred day moving average is $85.97.

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) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.27. Avis Budget Group had a negative net margin of 15.45% and a negative return on equity of 14.74%. On average, equities research analysts expect that Avis Budget Group, Inc. will post 8.91 EPS for the current year.

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.