National Bank of Canada FI Raises Stock Holdings in Avis Budget Group, Inc. (NASDAQ:CAR)

National Bank of Canada FI increased its holdings in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 266.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 330,000 shares of the business services provider’s stock after buying an additional 240,000 shares during the quarter. National Bank of Canada FI’s holdings in Avis Budget Group were worth $26,601,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CAR. GAMMA Investing LLC grew its stake 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 worth $27,000 after acquiring an additional 183 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Avis Budget Group by 31.8% in the fourth 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 period. Xponance Inc. grew its stake in Avis Budget Group by 11.2% in the fourth quarter. Xponance Inc. now owns 2,711 shares of the business services provider’s stock worth $219,000 after purchasing an additional 274 shares in the last quarter. US Bancorp DE increased its holdings in Avis Budget Group by 9.6% during the 4th quarter. US Bancorp DE now owns 2,984 shares of the business services provider’s stock worth $241,000 after purchasing an additional 261 shares during the period. Finally, Diversify Advisory Services LLC bought a new stake in Avis Budget Group during the 4th quarter valued at $254,000. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Analyst Ratings Changes

Separately, The Goldman Sachs Group raised their price target on Avis Budget Group from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $130.71.

Insiders Place Their Bets

In other news, Director Lynn Krominga sold 1,405 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $95.00, for a total transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 52.00% of the company’s stock.

Avis Budget Group Price Performance

Shares of CAR stock opened at $72.61 on Friday. The stock’s 50-day moving average is $78.45 and its 200 day moving average is $85.82. Avis Budget Group, Inc. has a 1-year low of $54.03 and a 1-year high of $132.25. The company has a market cap of $2.56 billion, a P/E ratio of -1.40 and a beta of 2.37.

Avis Budget Group (NASDAQ:CAR) last released its quarterly 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 net margin of 15.45% and a negative return on equity of 14.74%. On average, analysts anticipate that Avis Budget Group, Inc. will post 8.91 EPS for the current year.

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.