KBC Group NV Has $2.49 Million Holdings in Avis Budget Group, Inc. (NASDAQ:CAR)

KBC Group NV boosted its holdings in shares of Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 4,896.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,928 shares of the business services provider's stock after acquiring an additional 30,309 shares during the quarter. KBC Group NV owned 0.09% of Avis Budget Group worth $2,493,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC boosted its holdings in 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 valued at $293,825,000 after purchasing an additional 129,805 shares during the last quarter. State Street Corp grew its holdings in shares of Avis Budget Group by 2.5% during the third quarter. State Street Corp now owns 672,227 shares of the business services provider's stock worth $58,880,000 after buying an additional 16,221 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Avis Budget Group by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 592,341 shares of the business services provider's stock valued at $51,883,000 after purchasing an additional 2,561 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Avis Budget Group by 19,203.5% in the third quarter. International Assets Investment Management LLC now owns 481,044 shares of the business services provider's stock valued at $421,350,000 after purchasing an additional 478,552 shares during the period. Finally, JAT Capital Mgmt LP lifted its holdings in Avis Budget Group by 24.5% in the third quarter. JAT Capital Mgmt LP now owns 398,170 shares of the business services provider's stock valued at $34,876,000 after acquiring an additional 78,383 shares during the last quarter. 96.35% of the stock is currently owned by institutional investors.

Avis Budget Group Trading Down 1.3 %

NASDAQ:CAR traded down $1.17 during midday trading on Wednesday, hitting $88.00. 342,110 shares of the stock were exchanged, compared to its average volume of 532,326. Avis Budget Group, Inc. has a one year low of $65.73 and a one year high of $171.43. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 8.04 and a beta of 2.26. The business has a 50-day moving average price of $89.87 and a two-hundred day moving average price of $88.74.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on Avis Budget Group from $175.00 to $150.00 and set an "overweight" rating on the stock in a report on Monday, November 4th. StockNews.com raised Avis Budget Group from a "sell" rating to a "hold" rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Avis Budget Group from $145.00 to $143.00 and set a "buy" rating for the company in a research note on Tuesday, November 5th. The Goldman Sachs Group upped their price target 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. Finally, Northcoast Research downgraded Avis Budget Group from a "buy" rating to a "neutral" rating in a research note on Monday, November 18th. Five 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, the company currently has a consensus rating of "Hold" and a consensus price target of $133.75.

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.