Avis Budget Group Inc. (CAR) Shares Bought by Schroder Investment Management Group

Schroder Investment Management Group grew its position in shares of Avis Budget Group Inc. (NASDAQ:CAR) by 65.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 449,712 shares of the business services provider’s stock after purchasing an additional 177,261 shares during the period. Schroder Investment Management Group’s holdings in Avis Budget Group were worth $14,454,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Sei Investments Co. grew its holdings in shares of Avis Budget Group by 69.9% in the 2nd quarter. Sei Investments Co. now owns 7,068 shares of the business services provider’s stock worth $230,000 after acquiring an additional 2,907 shares during the last quarter. Cornerstone Wealth Management LLC acquired a new position in shares of Avis Budget Group in the 2nd quarter worth $224,000. NumerixS Investment Technologies Inc grew its holdings in shares of Avis Budget Group by 164.1% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 10,300 shares of the business services provider’s stock worth $331,000 after acquiring an additional 6,400 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Avis Budget Group in the 2nd quarter worth $344,000. Finally, First Quadrant L P CA acquired a new position in shares of Avis Budget Group in the 3rd quarter worth $346,000.

CAR has been the topic of a number of recent research reports. Goldman Sachs Group set a $30.00 target price on Avis Budget Group and gave the stock a “sell” rating in a report on Tuesday, October 16th. BidaskClub upgraded Avis Budget Group from a “hold” rating to a “buy” rating in a report on Tuesday, October 9th. ValuEngine downgraded Avis Budget Group from a “sell” rating to a “strong sell” rating in a report on Thursday, August 30th. Deutsche Bank set a $45.00 price target on Avis Budget Group and gave the company a “buy” rating in a report on Thursday, October 25th. Finally, Barclays lowered their price target on Avis Budget Group from $41.00 to $38.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 22nd. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $41.00.

In related news, SVP David T. Calabria sold 1,700 shares of Avis Budget Group stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $29.29, for a total transaction of $49,793.00. Following the completion of the sale, the senior vice president now owns 7,661 shares of the company’s stock, valued at $224,390.69. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.60% of the company’s stock.

Shares of CAR stock opened at $29.29 on Monday. Avis Budget Group Inc. has a 1-year low of $26.97 and a 1-year high of $50.88. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 27.75. The firm has a market cap of $2.27 billion, a PE ratio of 10.28 and a beta of 1.80.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings results on Monday, November 5th. The business services provider reported $3.33 earnings per share for the quarter, missing analysts’ consensus estimates of $3.54 by ($0.21). Avis Budget Group had a net margin of 4.09% and a return on equity of 60.18%. The business had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter in the prior year, the firm posted $3.10 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities research analysts anticipate that Avis Budget Group Inc. will post 3.43 EPS for the current year.

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About Avis Budget Group

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary services to businesses and consumers worldwide. It operates the Avis brand, a vehicle rental system with approximately 5,450 locations that supply rental cars to the premium commercial and leisure segments of the travel industry; the Budget brand, a vehicle rental and other mobility solutions primarily focuses on the value-conscious segments of the industry; the Zipcar brand, a membership-based car sharing network; and the Budget Truck brand, a local and one-way truck rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of approximately 925 dealer-operated and 450 company-operated locations that serve the consumer and light commercial sectors in the continental United States.

Read More: Diversification

Want to see what other hedge funds are holding CAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avis Budget Group Inc. (NASDAQ:CAR).

Institutional Ownership by Quarter for Avis Budget Group (NASDAQ:CAR)

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