SG Americas Securities LLC Has $2.61 Million Stock Position in Avis Budget Group, Inc. (NASDAQ:CAR)

SG Americas Securities LLC boosted its position in Avis Budget Group, Inc. (NASDAQ:CAR) by 234.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,325 shares of the business services provider’s stock after acquiring an additional 22,660 shares during the period. SG Americas Securities LLC owned 0.09% of Avis Budget Group worth $2,606,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAR. Barclays PLC boosted its stake in shares of Avis Budget Group by 30.5% in the 3rd quarter. Barclays PLC now owns 200,576 shares of the business services provider’s stock valued at $17,571,000 after purchasing an additional 46,922 shares during the last quarter. Wolverine Asset Management LLC grew its holdings in Avis Budget Group by 93.4% during the 3rd quarter. Wolverine Asset Management LLC now owns 16,771 shares of the business services provider’s stock worth $1,469,000 after acquiring an additional 8,100 shares during the period. State Street Corp raised its position in shares of Avis Budget Group by 2.5% during the 3rd quarter. State Street Corp now owns 672,227 shares of the business services provider’s stock valued at $58,880,000 after acquiring an additional 16,221 shares during the last quarter. Algert Global LLC lifted its stake in shares of Avis Budget Group by 123.8% in the 3rd quarter. Algert Global LLC now owns 22,745 shares of the business services provider’s stock valued at $1,992,000 after purchasing an additional 12,580 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Avis Budget Group by 10.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 185,801 shares of the business services provider’s stock worth $16,274,000 after purchasing an additional 17,666 shares during the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Avis Budget Group Stock Performance

NASDAQ CAR opened at $90.02 on Friday. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 8.22 and a beta of 2.25. Avis Budget Group, Inc. has a 52 week low of $65.73 and a 52 week high of $176.79. The stock’s 50 day moving average price is $92.02 and its two-hundred day moving average price is $89.65.

Avis Budget Group (NASDAQ:CAR) last announced its 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 in the previous year, the company posted $16.78 EPS. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, equities research analysts forecast that Avis Budget Group, Inc. will post 3.68 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CAR. Northcoast Research lowered shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a research note on Monday, November 18th. 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. StockNews.com upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft decreased their target price on Avis Budget Group from $145.00 to $143.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group raised their price target on Avis Budget Group from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $133.75.

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.