Avis Budget Group, Inc. (NASDAQ:CAR) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC boosted its stake in Avis Budget Group, Inc. (NASDAQ:CAR) by 160.1% in the 4th quarter, Holdings Channel reports. The firm owned 60,459 shares of the business services provider’s stock after purchasing an additional 37,216 shares during the period. Intech Investment Management LLC’s holdings in Avis Budget Group were worth $4,874,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in Avis Budget Group by 118.8% in the 4th quarter. GAMMA Investing LLC now owns 337 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 183 shares during the last quarter. Signaturefd LLC increased its holdings in Avis Budget Group by 31.8% in the 4th quarter. Signaturefd LLC now owns 936 shares of the business services provider’s stock valued at $75,000 after purchasing an additional 226 shares during the last quarter. Royce & Associates LP acquired a new stake in Avis Budget Group in the 3rd quarter valued at approximately $217,000. US Bancorp DE increased its holdings in Avis Budget Group by 9.6% in the 4th quarter. US Bancorp DE now owns 2,984 shares of the business services provider’s stock valued at $241,000 after purchasing an additional 261 shares during the last quarter. Finally, Diversify Advisory Services LLC acquired a new stake in Avis Budget Group in the 4th quarter valued at approximately $254,000. Institutional investors and hedge funds own 96.35% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group lifted their target price on shares of Avis Budget Group from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Avis Budget Group currently has an average rating of “Hold” and a consensus price target of $133.75.

Insider Transactions at Avis Budget Group

In other news, Director Lynn Krominga sold 1,405 shares of Avis Budget Group stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $95.00, for a total transaction of $133,475.00. Following the completion of the sale, the director now directly owns 1,950 shares of the company’s stock, valued at approximately $185,250. The trade was a 41.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 52.00% of the company’s stock.

Avis Budget Group Stock Down 2.0 %

NASDAQ:CAR opened at $58.01 on Wednesday. The company has a fifty day simple moving average of $83.36 and a two-hundred day simple moving average of $86.42. The company has a market cap of $2.04 billion, a price-to-earnings ratio of -1.12 and a beta of 2.37. Avis Budget Group, Inc. has a 52 week low of $54.03 and a 52 week high of $132.25.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings results on Tuesday, February 11th. The business services provider reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.27. Avis Budget Group had a negative net margin of 15.45% and a negative return on equity of 14.74%. On average, analysts expect that Avis Budget Group, Inc. will post 8.91 EPS for the current 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.