Universal Beteiligungs und Servicegesellschaft mbH Makes New $2.73 Million Investment in Avis Budget Group, Inc. $CAR

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Avis Budget Group, Inc. (NASDAQ:CAR) in the 3rd quarter, according to its most recent filing with the SEC. The fund purchased 16,978 shares of the business services provider’s stock, valued at approximately $2,726,000.

Other hedge funds have also made changes to their positions in the company. Royal Bank of Canada increased its stake in Avis Budget Group by 414.0% in the first quarter. Royal Bank of Canada now owns 17,860 shares of the business services provider’s stock valued at $1,355,000 after purchasing an additional 14,385 shares during the last quarter. Empowered Funds LLC grew its holdings in Avis Budget Group by 10.1% in the 1st quarter. Empowered Funds LLC now owns 3,749 shares of the business services provider’s stock valued at $285,000 after buying an additional 343 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Avis Budget Group by 16.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,023 shares of the business services provider’s stock valued at $4,935,000 after acquiring an additional 9,246 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Avis Budget Group during the 2nd quarter worth about $268,000. Finally, Fifth Third Bancorp boosted its position in shares of Avis Budget Group by 32.6% in the second quarter. Fifth Third Bancorp now owns 228 shares of the business services provider’s stock worth $39,000 after acquiring an additional 56 shares during the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

Avis Budget Group Trading Up 0.5%

Shares of Avis Budget Group stock opened at $115.67 on Friday. The company has a fifty day moving average price of $128.72 and a 200 day moving average price of $147.86. Avis Budget Group, Inc. has a twelve month low of $54.03 and a twelve month high of $212.81. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of -1.93 and a beta of 2.31.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings data on Monday, October 27th. The business services provider reported $10.11 EPS for the quarter, beating the consensus estimate of $8.11 by $2.00. The company had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same period last year, the business earned $6.65 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. Analysts forecast that Avis Budget Group, Inc. will post 8.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Barclays dropped their price target on shares of Avis Budget Group from $150.00 to $120.00 and set an “equal weight” rating for the company in a research report on Monday, November 3rd. Susquehanna dropped their price objective on Avis Budget Group from $145.00 to $130.00 and set a “neutral” rating for the company in a report on Wednesday, October 29th. Zacks Research raised Avis Budget Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 18th. Weiss Ratings reissued a “sell (d)” rating on shares of Avis Budget Group in a research report on Wednesday, January 21st. Finally, Morgan Stanley restated an “equal weight” rating and set a $142.00 price target (up from $115.00) on shares of Avis Budget Group in a research note on Monday, December 8th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $137.57.

About Avis Budget Group

Avis Budget Group, Inc operates as a leading global provider of vehicle rental and mobility solutions. Through its two core brands, Avis® and Budget®, the company offers a broad range of rental options including daily, weekly and monthly car rentals for leisure and business travelers. In addition to traditional airport and off-airport car rental services, Avis Budget Group delivers innovative mobility platforms such as car-sharing programs and connected fleet solutions designed to meet the evolving needs of corporate, government and individual customers.

The company’s roots trace back to Avis Rent a Car, founded in 1946, and Budget Rent a Car, established in 1958.