National Bank of Canada FI Acquires 240,000 Shares of Avis Budget Group, Inc. (NASDAQ:CAR)

National Bank of Canada FI boosted its position in Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 266.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 330,000 shares of the business services provider's stock after buying an additional 240,000 shares during the period. National Bank of Canada FI owned approximately 0.94% of Avis Budget Group worth $26,601,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Barclays PLC grew its stake in Avis Budget Group by 30.5% in the third quarter. Barclays PLC now owns 200,576 shares of the business services provider's stock valued at $17,571,000 after acquiring an additional 46,922 shares during the period. Swiss National Bank lifted its position in Avis Budget Group by 0.9% in the 4th quarter. Swiss National Bank now owns 35,100 shares of the business services provider's stock valued at $2,829,000 after acquiring an additional 300 shares in the last quarter. State Street Corp increased its holdings in Avis Budget Group by 2.5% during the 3rd quarter. State Street Corp now owns 672,227 shares of the business services provider's stock worth $58,880,000 after purchasing an additional 16,221 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Avis Budget Group by 10.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 185,801 shares of the business services provider's stock valued at $16,274,000 after buying an additional 17,666 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in Avis Budget Group during the third quarter worth $685,000. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Avis Budget Group Price Performance

Shares of NASDAQ:CAR traded up $0.37 on Tuesday, hitting $69.79. The company's stock had a trading volume of 468,327 shares, compared to its average volume of 780,884. Avis Budget Group, Inc. has a 1 year low of $54.03 and a 1 year high of $132.25. The company has a market capitalization of $2.46 billion, a PE ratio of -1.35 and a beta of 2.05. The company has a 50-day simple moving average of $77.63 and a 200 day simple moving average of $85.65.

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

Insider Buying and Selling at Avis Budget Group

In related news, Director Lynn Krominga sold 661 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $95.00, for a total transaction of $62,795.00. Following the transaction, the director now owns 3,355 shares in the company, valued at $318,725. The trade was a 16.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 52.00% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upped their target price on shares of Avis Budget Group from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 10th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $130.71.

Avis Budget Group 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.