Teachers Retirement System of The State of Kentucky lowered its stake in Avis Budget Group, Inc. (NASDAQ:CAR) by 22.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 16,220 shares of the business services provider’s stock after selling 4,700 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Avis Budget Group were worth $442,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CAR. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Avis Budget Group in the 2nd quarter valued at about $191,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Avis Budget Group in the 2nd quarter valued at about $225,000. LS Investment Advisors LLC boosted its holdings in shares of Avis Budget Group by 13.0% in the 2nd quarter. LS Investment Advisors LLC now owns 8,881 shares of the business services provider’s stock valued at $242,000 after buying an additional 1,024 shares during the period. Pacer Advisors Inc. boosted its holdings 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 buying an additional 356 shares during the period. Finally, Tudor Investment Corp ET AL acquired a new position in shares of Avis Budget Group in the 1st quarter valued at about $300,000.

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In related news, Director John D. Jr. Hardy sold 908 shares of the stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $32.78, for a total transaction of $29,764.24. Following the completion of the sale, the director now owns 908 shares in the company, valued at approximately $29,764.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stender E. Sweeney sold 1,500 shares of the stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $35.02, for a total transaction of $52,530.00. Following the sale, the director now owns 1,359 shares of the company’s stock, valued at approximately $47,592.18. The disclosure for this sale can be found here. Insiders have sold a total of 435,708 shares of company stock valued at $17,133,212 in the last quarter. 2.80% of the stock is currently owned by corporate insiders.

Avis Budget Group, Inc. (NASDAQ CAR) opened at 41.20 on Friday. The firm’s 50-day moving average is $38.45 and its 200-day moving average is $30.84. Avis Budget Group, Inc. has a 1-year low of $20.71 and a 1-year high of $41.73. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 48.53 and a beta of 2.48.

Avis Budget Group (NASDAQ:CAR) last announced its earnings results on Monday, August 7th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.32). The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.27 billion. Avis Budget Group had a return on equity of 74.80% and a net margin of 0.86%. The company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter last year, the business earned $0.63 EPS. On average, equities analysts anticipate that Avis Budget Group, Inc. will post $2.61 EPS for the current year.

Several research analysts have recently commented on CAR shares. Zacks Investment Research lowered shares of Avis Budget Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. J P Morgan Chase & Co started coverage on shares of Avis Budget Group in a report on Friday, August 4th. They issued an “overweight” rating and a $39.00 price target for the company. ValuEngine lowered shares of Avis Budget Group from a “buy” rating to a “hold” rating in a report on Monday, August 7th. BidaskClub lowered shares of Avis Budget Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 23rd. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “hold” rating and issued a $37.00 price target on shares of Avis Budget Group in a report on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $38.20.

Avis Budget Group Company Profile

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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