Bank of Montreal Can Has $9.05 Million Holdings in Avis Budget Group, Inc. (NASDAQ:CAR)

Bank of Montreal Can reduced its position in Avis Budget Group, Inc. (NASDAQ:CAR) by 56.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 103,360 shares of the business services provider’s stock after selling 133,267 shares during the quarter. Bank of Montreal Can owned approximately 0.29% of Avis Budget Group worth $9,053,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of CAR. Central Valley Advisors LLC bought a new stake in Avis Budget Group during the second quarter valued at $25,000. Strategic Investment Solutions Inc. IL boosted its position in shares of Avis Budget Group by 198.3% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 240 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Avis Budget Group by 293.3% during the third quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider’s stock worth $36,000 after purchasing an additional 305 shares during the period. Signaturefd LLC increased its holdings in Avis Budget Group by 180.0% in the second quarter. Signaturefd LLC now owns 714 shares of the business services provider’s stock worth $75,000 after purchasing an additional 459 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Avis Budget Group in the second quarter valued at approximately $75,000. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Avis Budget Group Trading Up 0.2 %

Avis Budget Group stock opened at $109.07 on Monday. The business’s 50 day simple moving average is $91.02 and its 200 day simple moving average is $95.26. Avis Budget Group, Inc. has a 12 month low of $65.73 and a 12 month high of $204.77. The company has a market cap of $3.83 billion, a price-to-earnings ratio of 9.96 and a beta of 2.14.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings results on Thursday, October 31st. The business services provider reported $6.65 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 firm had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.53 billion. During the same period in the prior year, the company earned $16.78 EPS. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, equities research analysts forecast that Avis Budget Group, Inc. will post 3.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Susquehanna dropped their price target on Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Barclays assumed coverage on shares of Avis Budget Group in a research note on Thursday, September 19th. They set 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 research note on Monday, November 18th. Deutsche Bank Aktiengesellschaft cut their target price on Avis Budget Group from $145.00 to $143.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Finally, StockNews.com raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Avis Budget Group has an average rating of “Hold” and an average target price of $133.13.

About Avis Budget Group

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.