3,477 Shares in Avis Budget Group, Inc. (NASDAQ:CAR) Purchased by Entropy Technologies LP

Entropy Technologies LP acquired a new position in Avis Budget Group, Inc. (NASDAQ:CAR) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 3,477 shares of the business services provider’s stock, valued at approximately $280,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Empowered Funds LLC bought a new stake in Avis Budget Group in the fourth quarter worth about $275,000. Yousif Capital Management LLC raised its position in Avis Budget Group by 2.5% in the fourth quarter. Yousif Capital Management LLC now owns 7,592 shares of the business services provider’s stock worth $612,000 after acquiring an additional 187 shares in the last quarter. KBC Group NV raised its position in Avis Budget Group by 4,896.4% in the fourth quarter. KBC Group NV now owns 30,928 shares of the business services provider’s stock worth $2,493,000 after acquiring an additional 30,309 shares in the last quarter. Inspire Investing LLC raised its position in Avis Budget Group by 6.4% in the fourth quarter. Inspire Investing LLC now owns 4,984 shares of the business services provider’s stock worth $402,000 after acquiring an additional 301 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in Avis Budget Group by 234.5% in the fourth quarter. SG Americas Securities LLC now owns 32,325 shares of the business services provider’s stock worth $2,606,000 after acquiring an additional 22,660 shares in the last quarter. 96.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on shares of 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. JPMorgan Chase & Co. cut their price objective on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Northcoast Research downgraded Avis Budget Group from a “buy” rating to a “neutral” rating in a report on Monday, November 18th. 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 boosted their price objective on Avis Budget Group from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Avis Budget Group presently has an average rating of “Hold” and an average price target of $133.75.

Avis Budget Group Price Performance

Shares of CAR opened at $87.19 on Friday. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 7.96 and a beta of 2.26. Avis Budget Group, Inc. has a fifty-two week low of $65.73 and a fifty-two week high of $133.94. The business’s 50-day moving average is $88.13 and its 200-day moving average is $88.23.

Avis Budget Group (NASDAQ:CAR) last issued its earnings results on Tuesday, February 11th. The business services provider reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.27. Avis Budget Group had a negative return on equity of 101.41% and a net margin of 3.34%. Equities research analysts expect that Avis Budget Group, Inc. will post 3.69 earnings per share for the current fiscal year.

About Avis Budget Group

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.