SG Americas Securities LLC Invests $847,000 in Avis Budget Group, Inc. (NASDAQ:CAR)

SG Americas Securities LLC acquired a new stake in Avis Budget Group, Inc. (NASDAQ:CAR) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 9,665 shares of the business services provider’s stock, valued at approximately $847,000.

Other hedge funds have also added to or reduced their stakes in the company. EntryPoint Capital LLC raised its stake in shares of Avis Budget Group by 119.2% during the first quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 124 shares during the last quarter. Denali Advisors LLC raised its position in Avis Budget Group by 94.1% during the 1st quarter. Denali Advisors LLC now owns 231 shares of the business services provider’s stock worth $28,000 after purchasing an additional 112 shares during the last quarter. Central Valley Advisors LLC acquired a new position in Avis Budget Group during the 2nd quarter worth about $25,000. Signaturefd LLC grew its position in shares of Avis Budget Group by 180.0% in the 2nd quarter. Signaturefd LLC now owns 714 shares of the business services provider’s stock valued at $75,000 after buying an additional 459 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Avis Budget Group in the 2nd quarter valued at about $75,000. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Avis Budget Group Trading Down 1.6 %

CAR opened at $83.04 on Friday. The company has a market cap of $2.96 billion, a P/E ratio of 3.94 and a beta of 2.13. The company has a fifty day moving average price of $83.26 and a two-hundred day moving average price of $100.73. Avis Budget Group, Inc. has a 1-year low of $65.73 and a 1-year high of $204.77.

Avis Budget Group (NASDAQ:CAR) last issued its earnings results on Monday, August 5th. The business services provider reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $2.60 by ($2.19). Avis Budget Group had a net margin of 6.58% and a negative return on equity of 230.71%. The firm had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the previous year, the firm earned $11.01 earnings per share. The business’s quarterly revenue was down 2.4% on a year-over-year basis. On average, research analysts forecast that Avis Budget Group, Inc. will post 7.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CAR has been the subject of a number of analyst reports. Susquehanna lowered their price objective on Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. dropped their price target on shares of Avis Budget Group from $205.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. StockNews.com cut shares of Avis Budget Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Avis Budget Group from $155.00 to $146.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Finally, Barclays began coverage on Avis Budget Group in a report on Thursday, September 19th. They set an “equal weight” rating and a $105.00 price target for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $136.63.

Avis Budget Group 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.