Dupree Financial Group LLC Invests $2.61 Million in Avis Budget Group, Inc. (NASDAQ:CAR)

Dupree Financial Group LLC purchased a new position in shares of Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 29,805 shares of the business services provider's stock, valued at approximately $2,611,000. Dupree Financial Group LLC owned 0.08% of Avis Budget Group at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. EntryPoint Capital LLC lifted its position in Avis Budget Group by 119.2% in the 1st quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider's stock worth $28,000 after buying an additional 124 shares during the last quarter. Denali Advisors LLC increased its holdings in shares of Avis Budget Group by 94.1% during the first quarter. Denali Advisors LLC now owns 231 shares of the business services provider's stock valued at $28,000 after acquiring an additional 112 shares in the last quarter. Central Valley Advisors LLC bought a new stake in Avis Budget Group during the 2nd quarter valued at about $25,000. Signaturefd LLC lifted its position in Avis Budget Group by 180.0% in the 2nd quarter. Signaturefd LLC now owns 714 shares of the business services provider's stock valued at $75,000 after acquiring an additional 459 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Avis Budget Group in the 2nd quarter worth about $75,000. Institutional investors own 96.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CAR. Barclays assumed coverage on Avis Budget Group in a research note on Thursday, September 19th. They issued an "equal weight" rating and a $105.00 price target on the stock. StockNews.com downgraded shares of Avis Budget Group from a "hold" rating to a "sell" rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. decreased their price objective on Avis Budget Group from $205.00 to $175.00 and set an "overweight" rating on the stock in a report on Wednesday, August 7th. Susquehanna lowered their price target on shares of Avis Budget Group from $120.00 to $95.00 and set a "neutral" rating for the company in a report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Avis Budget Group from $155.00 to $146.00 and set a "buy" rating on the stock in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $136.63.

Avis Budget Group Price Performance

Shares of Avis Budget Group stock traded down $1.10 during trading hours on Wednesday, hitting $78.55. The company had a trading volume of 426,975 shares, compared to its average volume of 709,715. Avis Budget Group, Inc. has a twelve month low of $65.73 and a twelve month high of $204.77. The company has a market cap of $2.80 billion, a P/E ratio of 2.51 and a beta of 2.13. The company's 50-day moving average is $82.45 and its two-hundred day moving average is $98.37.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last announced its earnings results on Monday, August 5th. The business services provider reported $0.41 earnings per share for the quarter, missing the consensus estimate of $2.60 by ($2.19). The company had revenue of $3.05 billion during the quarter, compared to analysts' expectations of $3.13 billion. Avis Budget Group had a net margin of 6.58% and a negative return on equity of 230.71%. The company's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $11.01 earnings per share. Sell-side analysts expect that Avis Budget Group, Inc. will post 7.68 EPS for the current year.

Avis Budget Group Company Profile

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers in the Americas, Europe, the Middle East and Africa, Asia, and Australasia. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; and the Zipcar brand, a car sharing network, as well as the Budget brand, a supplier of vehicle rental and other mobility solutions focused primarily on more value-conscious customers comprising Budget car rental, and Budget Truck, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of dealer-operated and company-operated locations that serve the light commercial and consumer sectors in the continental United States.