Virtu Financial LLC Buys New Holdings in Avis Budget Group, Inc. (NASDAQ:CAR)

Virtu Financial LLC purchased a new stake in Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 4,442 shares of the business services provider's stock, valued at approximately $358,000.

Other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. grew its position in Avis Budget Group by 23.2% during the third quarter. Victory Capital Management Inc. now owns 12,078 shares of the business services provider's stock worth $1,058,000 after buying an additional 2,276 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Avis Budget Group by 10.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 185,801 shares of the business services provider's stock worth $16,274,000 after acquiring an additional 17,666 shares during the period. Algert Global LLC grew its holdings in shares of Avis Budget Group by 123.8% in the 3rd quarter. Algert Global LLC now owns 22,745 shares of the business services provider's stock worth $1,992,000 after acquiring an additional 12,580 shares during the period. FMR LLC increased its stake in Avis Budget Group by 4.0% in the 3rd 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 in the last quarter. Finally, Capstone Investment Advisors LLC acquired a new position in Avis Budget Group during the third quarter worth $341,000. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

Avis Budget Group Price Performance

Avis Budget Group stock traded up $0.50 during mid-day trading on Friday, hitting $74.66. 3,228,100 shares of the company were exchanged, compared to its average volume of 751,113. Avis Budget Group, Inc. has a 12-month low of $54.03 and a 12-month high of $132.25. The business's 50 day simple moving average is $79.69 and its two-hundred day simple moving average is $85.94. The company has a market capitalization of $2.62 billion, a P/E ratio of -1.44 and a beta of 2.37.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The business services provider reported ($0.23) EPS for the quarter, topping analysts' consensus estimates 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%. Equities research analysts predict that Avis Budget Group, Inc. will post 8.91 earnings per share for the current year.

Insider Activity at Avis Budget Group

In related news, Director Lynn Krominga sold 1,405 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $95.00, for a total value of $133,475.00. Following the completion of the transaction, the director now directly owns 1,950 shares in the company, valued at approximately $185,250. This represents a 41.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 52.00% of the company's stock.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upped their target price on Avis Budget Group from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $130.71.

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.