SG Americas Securities LLC Purchases 22,660 Shares of Avis Budget Group, Inc. (NASDAQ:CAR)

SG Americas Securities LLC increased its holdings in shares of Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 234.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,325 shares of the business services provider's stock after buying an additional 22,660 shares during the quarter. SG Americas Securities LLC owned 0.09% of Avis Budget Group worth $2,606,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. FMR LLC increased its position in shares of Avis Budget Group by 4.0% during the third quarter. FMR LLC now owns 3,354,546 shares of the business services provider's stock worth $293,825,000 after acquiring an additional 129,805 shares in the last quarter. State Street Corp raised its stake in shares of Avis Budget Group by 2.5% in the 3rd quarter. State Street Corp now owns 672,227 shares of the business services provider's stock valued at $58,880,000 after purchasing an additional 16,221 shares during the period. Massachusetts Financial Services Co. MA lifted 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 in the last quarter. International Assets Investment Management LLC boosted its position in shares of Avis Budget Group by 19,203.5% during the third quarter. International Assets Investment Management LLC now owns 481,044 shares of the business services provider's stock worth $421,350,000 after buying an additional 478,552 shares during the period. Finally, JAT Capital Mgmt LP grew its holdings in shares of Avis Budget Group by 24.5% during the third quarter. JAT Capital Mgmt LP now owns 398,170 shares of the business services provider's stock worth $34,876,000 after buying an additional 78,383 shares in the last quarter. Institutional investors and hedge funds own 96.35% of the company's stock.

Avis Budget Group Stock Performance

Shares of NASDAQ:CAR traded down $0.90 during midday trading on Friday, reaching $90.02. The company's stock had a trading volume of 323,680 shares, compared to its average volume of 487,271. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 8.22 and a beta of 2.25. 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 50 day moving average price of $92.02 and a two-hundred day moving average price of $89.58.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last issued its quarterly earnings data 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 business 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 business earned $16.78 earnings per share. The firm's quarterly revenue was down 2.4% compared to the same quarter last year. As a group, research analysts anticipate that Avis Budget Group, Inc. will post 3.68 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on CAR. Northcoast Research lowered shares of Avis Budget Group from a "buy" rating to a "neutral" rating in a research report on Monday, November 18th. Deutsche Bank Aktiengesellschaft decreased their price objective 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. The Goldman Sachs Group increased their price target 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. StockNews.com raised Avis Budget Group from a "sell" rating to a "hold" rating in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. cut their price objective 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. Five 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 currently has an average rating of "Hold" and a consensus target price 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.