79,393 Shares in Avis Budget Group Inc. (CAR) Acquired by Trexquant Investment LP

Trexquant Investment LP bought a new position in shares of Avis Budget Group Inc. (NASDAQ:CAR) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 79,393 shares of the business services provider’s stock, valued at approximately $2,552,000.

Other institutional investors also recently bought and sold shares of the company. Arizona State Retirement System increased its holdings in Avis Budget Group by 3.1% during the 2nd quarter. Arizona State Retirement System now owns 49,646 shares of the business services provider’s stock valued at $1,613,000 after purchasing an additional 1,477 shares in the last quarter. Systematic Financial Management LP increased its holdings in Avis Budget Group by 5.6% during the 2nd quarter. Systematic Financial Management LP now owns 31,510 shares of the business services provider’s stock valued at $1,024,000 after purchasing an additional 1,675 shares in the last quarter. Sei Investments Co. increased its holdings in Avis Budget Group by 69.9% during the 2nd quarter. Sei Investments Co. now owns 7,068 shares of the business services provider’s stock valued at $230,000 after purchasing an additional 2,907 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in Avis Budget Group by 5.1% during the 2nd quarter. Mutual of America Capital Management LLC now owns 61,234 shares of the business services provider’s stock valued at $1,990,000 after purchasing an additional 2,980 shares in the last quarter. Finally, Eqis Capital Management Inc. increased its holdings in Avis Budget Group by 38.1% during the 2nd quarter. Eqis Capital Management Inc. now owns 13,645 shares of the business services provider’s stock valued at $443,000 after purchasing an additional 3,765 shares in the last quarter.

Shares of Avis Budget Group stock opened at $28.07 on Monday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 27.75. Avis Budget Group Inc. has a 12 month low of $26.97 and a 12 month high of $50.88. The firm has a market cap of $2.17 billion, a P/E ratio of 9.85 and a beta of 1.86.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings data on Monday, November 5th. The business services provider reported $3.33 EPS for the quarter, missing analysts’ consensus estimates of $3.54 by ($0.21). Avis Budget Group had a return on equity of 60.18% and a net margin of 4.09%. The company had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same period last year, the firm earned $3.10 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. As a group, equities research analysts anticipate that Avis Budget Group Inc. will post 3.43 earnings per share for the current fiscal year.

Several research firms have recently commented on CAR. Deutsche Bank set a $45.00 target price on Avis Budget Group and gave the company a “buy” rating in a research note on Tuesday, November 6th. ValuEngine cut Avis Budget Group from a “sell” rating to a “strong sell” rating in a research note on Friday, August 24th. Zacks Investment Research cut Avis Budget Group from a “hold” rating to a “sell” rating in a research note on Friday, October 26th. BidaskClub cut Avis Budget Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 29th. Finally, Goldman Sachs Group set a $30.00 target price on Avis Budget Group and gave the company a “sell” rating in a research note on Tuesday, October 16th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Avis Budget Group presently has a consensus rating of “Hold” and an average price target of $41.00.

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Avis Budget Group Profile

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary services to businesses and consumers worldwide. It operates the Avis brand, a vehicle rental system with approximately 5,450 locations that supply rental cars to the premium commercial and leisure segments of the travel industry; the Budget brand, a vehicle rental and other mobility solutions primarily focuses on the value-conscious segments of the industry; the Zipcar brand, a membership-based car sharing network; and the Budget Truck brand, a local and one-way truck rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of approximately 925 dealer-operated and 450 company-operated locations that serve the consumer and light commercial sectors in the continental United States.

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Institutional Ownership by Quarter for Avis Budget Group (NASDAQ:CAR)

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