International Assets Investment Management LLC Sells 475,472 Shares of Avis Budget Group, Inc. (NASDAQ:CAR)

International Assets Investment Management LLC reduced its position in shares of Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 98.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,572 shares of the business services provider's stock after selling 475,472 shares during the period. International Assets Investment Management LLC's holdings in Avis Budget Group were worth $448,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. GAMMA Investing LLC grew its holdings in shares of Avis Budget Group by 118.8% in the 4th quarter. GAMMA Investing LLC now owns 337 shares of the business services provider's stock worth $27,000 after acquiring an additional 183 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Avis Budget Group in the third quarter valued at $263,000. M&T Bank Corp purchased a new stake in Avis Budget Group in the 3rd quarter valued at about $333,000. Barclays PLC increased its position in Avis Budget Group by 30.5% during the third quarter. Barclays PLC now owns 200,576 shares of the business services provider's stock worth $17,571,000 after purchasing an additional 46,922 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Avis Budget Group during the 3rd quarter worth $685,000. 96.35% of the stock is owned by hedge funds and other institutional investors.

Avis Budget Group Trading Down 1.6 %

Shares of Avis Budget Group stock traded down $1.36 on Friday, reaching $84.56. 639,071 shares of the company were exchanged, compared to its average volume of 575,362. Avis Budget Group, Inc. has a fifty-two week low of $65.73 and a fifty-two week high of $176.79. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 7.72 and a beta of 2.25. The stock has a fifty day moving average price of $93.65 and a 200-day moving average price of $90.64.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The business services provider reported $6.65 earnings per share (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 for the quarter, compared to analyst estimates of $3.53 billion. During the same quarter in the prior year, the firm earned $16.78 EPS. The firm's revenue was down 2.4% compared to the same quarter last year. On average, equities analysts anticipate that Avis Budget Group, Inc. will post 3.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. The Goldman Sachs Group raised their price objective on 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. reduced their price target on Avis Budget Group from $175.00 to $150.00 and set an "overweight" rating for the company in a report on Monday, November 4th. Barclays initiated coverage on shares of Avis Budget Group in a report on Thursday, September 19th. They set an "equal weight" rating and a $105.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered 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. Finally, StockNews.com raised shares of Avis Budget Group from a "sell" rating to a "hold" rating in a research report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target 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.