GRT Capital Partners L.L.C. raised its stake in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 10.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,650 shares of the business services provider’s stock after buying an additional 3,350 shares during the quarter. GRT Capital Partners L.L.C.’s holdings in Avis Budget Group were worth $945,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CAR. Capstone Asset Management Co. grew its position in shares of Avis Budget Group by 0.9% in the 1st quarter. Capstone Asset Management Co. now owns 11,155 shares of the business services provider’s stock valued at $330,000 after purchasing an additional 100 shares during the period. Utah Retirement Systems grew its position in shares of Avis Budget Group by 0.7% in the 1st quarter. Utah Retirement Systems now owns 14,200 shares of the business services provider’s stock valued at $420,000 after purchasing an additional 100 shares during the period. Louisiana State Employees Retirement System grew its position in shares of Avis Budget Group by 1.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 22,000 shares of the business services provider’s stock valued at $600,000 after purchasing an additional 300 shares during the period. Pacer Advisors Inc. grew its position in shares of Avis Budget Group by 4.0% in the 2nd quarter. Pacer Advisors Inc. now owns 9,261 shares of the business services provider’s stock valued at $253,000 after purchasing an additional 356 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its position in shares of Avis Budget Group by 1.2% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 33,000 shares of the business services provider’s stock valued at $976,000 after purchasing an additional 400 shares during the period.

In other Avis Budget Group news, Director John D. Jr. Hardy sold 908 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $32.78, for a total value of $29,764.24. Following the completion of the sale, the director now owns 908 shares of the company’s stock, valued at $29,764.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Edward P. Linnen sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $36.09, for a total value of $108,270.00. Following the completion of the sale, the executive vice president now directly owns 17,919 shares of the company’s stock, valued at approximately $646,696.71. The disclosure for this sale can be found here. Insiders sold 35,708 shares of company stock valued at $1,283,212 in the last three months. Insiders own 2.80% of the company’s stock.

Several equities analysts recently issued reports on CAR shares. Morgan Stanley decreased their price objective on Avis Budget Group from $19.00 to $18.00 and set an “underweight” rating for the company in a research report on Friday, August 25th. Deutsche Bank AG reiterated a “buy” rating on shares of Avis Budget Group in a research report on Monday, June 26th. ValuEngine upgraded Avis Budget Group from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Zacks Investment Research lowered Avis Budget Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, MKM Partners reiterated a “buy” rating and issued a $40.00 price objective on shares of Avis Budget Group in a research report on Wednesday, June 28th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $36.22.

Avis Budget Group, Inc. (NASDAQ CAR) traded up 0.417% during trading on Wednesday, reaching $37.325. The company’s stock had a trading volume of 352,985 shares. The stock has a market cap of $3.08 billion, a PE ratio of 43.963 and a beta of 2.44. The company’s 50-day moving average is $33.55 and its 200-day moving average is $29.30. Avis Budget Group, Inc. has a 12 month low of $20.71 and a 12 month high of $41.53.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings data on Monday, August 7th. The business services provider reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.32). Avis Budget Group had a net margin of 0.86% and a return on equity of 74.80%. The firm had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the business posted $0.63 EPS. The company’s revenue was down .2% on a year-over-year basis. Equities analysts expect that Avis Budget Group, Inc. will post $2.54 EPS for the current fiscal year.

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About Avis Budget Group

Avis Budget Group Inc is a provider of vehicle rental and car sharing services. The Company operates three brands, which include Avis, Budget and Zipcar. Avis and Budget are a rental car supplier. It also owns Payless, which a car rental brand; Apex, which is a car rental brand in New Zealand and Australia; Maggiore, a vehicle rental brand in Italy, and France Cars, which operates light commercial vehicle fleets in France.

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

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