Oxinas Partners Wealth Management LLC Purchases Shares of 2,100 Avis Budget Group, Inc. (NASDAQ:CAR)

Oxinas Partners Wealth Management LLC acquired a new stake in Avis Budget Group, Inc. (NASDAQ:CAR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,100 shares of the business services provider’s stock, valued at approximately $372,000.

Other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. lifted its stake in shares of Avis Budget Group by 68.5% during the 4th quarter. Pacer Advisors Inc. now owns 2,772 shares of the business services provider’s stock worth $491,000 after acquiring an additional 1,127 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Avis Budget Group by 75.1% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 8,065 shares of the business services provider’s stock valued at $1,449,000 after acquiring an additional 3,459 shares during the period. Hudson Bay Capital Management LP purchased a new position in shares of Avis Budget Group in the 3rd quarter valued at $62,892,000. B. Riley Wealth Advisors Inc. increased its holdings in shares of Avis Budget Group by 14.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 4,759 shares of the business services provider’s stock valued at $855,000 after acquiring an additional 591 shares during the period. Finally, Graham Capital Management L.P. purchased a new position in shares of Avis Budget Group in the 3rd quarter valued at $988,000. 96.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CAR. Bank of America initiated coverage on Avis Budget Group in a report on Tuesday, March 19th. They issued a “buy” rating and a $170.00 price target on the stock. Morgan Stanley dropped their target price on Avis Budget Group from $230.00 to $190.00 and set an “overweight” rating on the stock in a research note on Friday, February 23rd. JPMorgan Chase & Co. dropped their target price on Avis Budget Group from $280.00 to $240.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft upgraded Avis Budget Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $234.00 to $248.00 in a research note on Thursday, January 25th. Finally, Northcoast Research raised Avis Budget Group from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a research report on Monday, March 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $187.43.

Avis Budget Group Trading Up 2.7 %

NASDAQ:CAR opened at $125.78 on Tuesday. Avis Budget Group, Inc. has a 12 month low of $99.60 and a 12 month high of $244.95. The stock has a 50 day moving average of $129.00 and a two-hundred day moving average of $162.09. The firm has a market cap of $4.46 billion, a P/E ratio of 2.95 and a beta of 2.22.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings data on Tuesday, February 13th. The business services provider reported $7.10 EPS for the quarter, topping the consensus estimate of $4.15 by $2.95. Avis Budget Group had a negative return on equity of 696.69% and a net margin of 13.59%. The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same period in the previous year, the business earned $10.46 EPS. Avis Budget Group’s quarterly revenue was down .3% on a year-over-year basis. On average, research analysts forecast that Avis Budget Group, Inc. will post 15.55 earnings per share for the current year.

Avis Budget Group Company Profile

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers in the Americas, Europe, the Middle East and Africa, Asia, and Australasia. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; and the Zipcar brand, a car sharing network, as well as the Budget brand, a supplier of vehicle rental and other mobility solutions focused primarily on more value-conscious customers comprising Budget car rental, and Budget Truck, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of dealer-operated and company-operated locations that serve the light commercial and consumer sectors in the continental United States.