Capstone Investment Advisors LLC Invests $341,000 in Avis Budget Group, Inc. (NASDAQ:CAR)

Capstone Investment Advisors LLC bought a new stake in Avis Budget Group, Inc. (NASDAQ:CAR) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,897 shares of the business services provider’s stock, valued at approximately $341,000.

A number of other large investors have also recently bought and sold shares of CAR. Central Valley Advisors LLC purchased a new position in shares of Avis Budget Group during the second quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL boosted its holdings in shares of Avis Budget Group by 198.3% during the third quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider’s stock worth $32,000 after purchasing an additional 240 shares during the last quarter. Nisa Investment Advisors LLC grew its position 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 purchasing an additional 305 shares during the period. Signaturefd LLC increased its stake in Avis Budget Group by 180.0% in the second quarter. Signaturefd LLC now owns 714 shares of the business services provider’s stock valued at $75,000 after purchasing an additional 459 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Avis Budget Group during the second quarter worth about $75,000. Institutional investors and hedge funds own 96.35% of the company’s stock.

Avis Budget Group Trading Up 0.2 %

NASDAQ CAR opened at $109.07 on Friday. The stock has a market cap of $3.83 billion, a P/E ratio of 9.96 and a beta of 2.14. Avis Budget Group, Inc. has a 52 week low of $65.73 and a 52 week high of $204.77. The company’s fifty day simple moving average is $91.02 and its 200-day simple moving average is $95.67.

Avis Budget Group (NASDAQ:CAR) last released its earnings results on Thursday, October 31st. The business services provider reported $6.65 earnings per share for the quarter, missing the consensus estimate of $8.55 by ($1.90). Avis Budget Group had a negative return on equity of 101.41% and a net margin of 3.34%. The company had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same period in the previous year, the firm posted $16.78 EPS. Avis Budget Group’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, research analysts expect that Avis Budget Group, Inc. will post 3.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Barclays assumed coverage on Avis Budget Group in a report on Thursday, September 19th. They issued an “equal weight” rating and a $105.00 price target for the company. Northcoast Research lowered shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a report on Monday, November 18th. Susquehanna dropped their price objective on Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating for the company in a report on Friday, August 9th. StockNews.com upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Finally, The Goldman Sachs Group dropped their price target on Avis Budget Group from $105.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $133.13.

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.