Avis Budget Group, Inc. (NASDAQ:CAR) Shares Purchased by National Bank of Canada FI

National Bank of Canada FI grew its holdings in Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 1,858.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 90,000 shares of the business services provider's stock after acquiring an additional 85,405 shares during the quarter. National Bank of Canada FI owned about 0.26% of Avis Budget Group worth $7,883,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. SummerHaven Investment Management LLC grew its holdings in shares of Avis Budget Group by 4.5% during the second quarter. SummerHaven Investment Management LLC now owns 3,223 shares of the business services provider's stock worth $337,000 after purchasing an additional 138 shares during the last quarter. Strategic Investment Solutions Inc. IL grew its stake in Avis Budget Group by 198.3% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider's stock worth $32,000 after buying an additional 240 shares during the last quarter. Algert Global LLC increased its position in Avis Budget Group by 2.5% during the second quarter. Algert Global LLC now owns 10,165 shares of the business services provider's stock worth $1,062,000 after buying an additional 245 shares during the period. International Assets Investment Management LLC lifted its stake in Avis Budget Group by 13.7% in the second quarter. International Assets Investment Management LLC now owns 2,492 shares of the business services provider's stock valued at $260,000 after buying an additional 300 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Avis Budget Group by 293.3% in the third quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider's stock valued at $36,000 after acquiring an additional 305 shares during the period. Institutional investors and hedge funds own 96.35% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on CAR. 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. StockNews.com raised Avis Budget Group from a "sell" rating to a "hold" rating in a report on Monday, November 4th. Barclays started coverage on Avis Budget Group in a research note on Thursday, September 19th. They set an "equal weight" rating and a $105.00 price objective for the company. JPMorgan Chase & Co. dropped their target price 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. Finally, Deutsche Bank Aktiengesellschaft decreased 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. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $133.75.

Avis Budget Group Trading Down 3.1 %

Shares of CAR traded down $3.05 during trading hours on Thursday, reaching $96.09. The company had a trading volume of 465,481 shares, compared to its average volume of 710,588. Avis Budget Group, Inc. has a 12-month low of $65.73 and a 12-month high of $204.77. The firm has a 50 day simple moving average of $93.46 and a 200-day simple moving average of $94.62. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 8.74 and a beta of 2.20.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last issued its 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). The company had revenue of $3.48 billion during the quarter, compared to analysts' expectations of $3.53 billion. Avis Budget Group had a net margin of 3.34% and a negative return on equity of 101.41%. The company's quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the business posted $16.78 earnings per share. Sell-side analysts forecast that Avis Budget Group, Inc. will post 3.59 earnings per share 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.