Think Investments LP Sells 190,500 Shares of Avis Budget Group, Inc. (NASDAQ:CAR)

Think Investments LP trimmed its position in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 62.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 116,800 shares of the business services provider’s stock after selling 190,500 shares during the quarter. Avis Budget Group accounts for about 2.1% of Think Investments LP’s holdings, making the stock its 15th largest holding. Think Investments LP’s holdings in Avis Budget Group were worth $9,415,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of CAR. Barclays PLC raised its holdings in shares of Avis Budget Group by 30.5% during the 3rd quarter. Barclays PLC now owns 200,576 shares of the business services provider’s stock valued at $17,571,000 after buying an additional 46,922 shares in the last quarter. Diversify Advisory Services LLC purchased a new position in shares of Avis Budget Group during the 4th quarter valued at about $254,000. SG Americas Securities LLC increased its stake in Avis Budget Group by 234.5% in the 4th quarter. SG Americas Securities LLC now owns 32,325 shares of the business services provider’s stock worth $2,606,000 after purchasing an additional 22,660 shares during the period. Inspire Investing LLC increased its stake in Avis Budget Group by 6.4% in the 4th quarter. Inspire Investing LLC now owns 4,984 shares of the business services provider’s stock worth $402,000 after purchasing an additional 301 shares during the period. Finally, KBC Group NV increased its stake in Avis Budget Group by 4,896.4% in the 4th quarter. KBC Group NV now owns 30,928 shares of the business services provider’s stock worth $2,493,000 after purchasing an additional 30,309 shares during the period. 96.35% of the stock is owned by hedge funds and other institutional investors.

Avis Budget Group Stock Performance

Shares of CAR stock opened at $108.84 on Friday. The firm has a market cap of $3.83 billion, a P/E ratio of -2.10 and a beta of 2.10. Avis Budget Group, Inc. has a fifty-two week low of $54.03 and a fifty-two week high of $119.50. The business’s 50 day moving average price is $79.57 and its 200-day moving average price is $86.46.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings data on Wednesday, May 7th. The business services provider reported ($14.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($5.72) by ($8.63). The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.49 billion. Avis Budget Group had a negative return on equity of 14.74% and a negative net margin of 15.45%. Avis Budget Group’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($3.21) earnings per share. As a group, equities analysts predict that Avis Budget Group, Inc. will post 8.91 EPS for the current year.

Insider Transactions at Avis Budget Group

In related news, Director Lynn Krominga sold 661 shares of Avis Budget Group stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $95.00, for a total transaction of $62,795.00. Following the sale, the director now directly owns 3,355 shares in the company, valued at $318,725. The trade was a 16.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 52.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CAR. StockNews.com raised Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 3rd. The Goldman Sachs Group decreased their price target on Avis Budget Group from $100.00 to $87.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. lifted their price target on Avis Budget Group from $145.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Avis Budget Group has an average rating of “Hold” and a consensus price target of $117.00.

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.