Avis Budget Group, Inc. (NASDAQ:CAR) Position Decreased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its holdings in Avis Budget Group, Inc. (NASDAQ:CAR) by 4.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,244 shares of the business services provider’s stock after selling 311 shares during the period. Public Employees Retirement System of Ohio’s holdings in Avis Budget Group were worth $547,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Strategic Investment Solutions Inc. IL boosted its position in shares of Avis Budget Group by 198.3% in 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 during the period. Nisa Investment Advisors LLC increased 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 worth $36,000 after acquiring an additional 305 shares in the last quarter. Signaturefd LLC increased its position in shares of 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 acquiring an additional 459 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Avis Budget Group in the 2nd quarter valued at approximately $75,000. Finally, Carolina Wealth Advisors LLC boosted its stake in Avis Budget Group by 184.5% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 1,118 shares of the business services provider’s stock worth $98,000 after purchasing an additional 725 shares during the period. 96.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CAR has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of Avis Budget Group from $145.00 to $143.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Barclays began coverage on Avis Budget Group in a research report on Thursday, September 19th. They set an “equal weight” rating and a $105.00 price target on the stock. StockNews.com upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. 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. Finally, JPMorgan Chase & Co. decreased their price target on shares of Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Avis Budget Group has a consensus rating of “Hold” and an average target price of $133.75.

Avis Budget Group Stock Performance

Shares of NASDAQ CAR opened at $80.98 on Friday. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 7.40 and a beta of 2.20. The business has a 50 day simple moving average of $93.65 and a 200 day simple moving average of $93.57. Avis Budget Group, Inc. has a 52 week low of $65.73 and a 52 week high of $188.36.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings results on Thursday, October 31st. The business services provider reported $6.65 EPS 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 business had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.53 billion. During the same quarter last year, the company earned $16.78 EPS. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, analysts predict that Avis Budget Group, Inc. will post 3.59 EPS for the current year.

Avis Budget Group Profile

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.