Edgestream Partners L.P. Takes Position in Avis Budget Group, Inc. (NASDAQ:CAR)

Edgestream Partners L.P. bought a new position in shares of Avis Budget Group, Inc. (NASDAQ:CAR) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,235 shares of the business services provider’s stock, valued at approximately $1,067,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. GAMMA Investing LLC boosted its position in Avis Budget Group by 118.8% during the fourth quarter. GAMMA Investing LLC now owns 337 shares of the business services provider’s stock worth $27,000 after purchasing an additional 183 shares during the period. Royce & Associates LP bought a new stake in shares of Avis Budget Group during the 3rd quarter worth $217,000. US Bancorp DE grew its stake 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 buying an additional 261 shares during the last quarter. Diversify Advisory Services LLC bought a new position in Avis Budget Group in the 4th quarter worth $254,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in Avis Budget Group in the 3rd quarter worth $263,000. Institutional investors and hedge funds own 96.35% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Northcoast Research downgraded Avis Budget Group from a “buy” rating to a “neutral” rating in a research report on Monday, November 18th. The Goldman Sachs Group lifted 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 equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Avis Budget Group currently has an average rating of “Hold” and an average price target of $133.75.

Insider Buying and Selling

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

Avis Budget Group Trading Down 10.9 %

CAR opened at $63.79 on Wednesday. The stock’s 50 day simple moving average is $85.73 and its 200-day simple moving average is $87.30. The stock has a market cap of $2.24 billion, a PE ratio of -1.23 and a beta of 2.37. Avis Budget Group, Inc. has a 1 year low of $61.41 and a 1 year high of $132.25.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings results on Tuesday, February 11th. The business services provider reported ($0.23) earnings per share (EPS) for the quarter, beating 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%. Equities analysts forecast that Avis Budget Group, Inc. will post 8.91 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.