Man Group plc Has $309,000 Holdings in Avis Budget Group Inc. (CAR)
Man Group plc reduced its stake in shares of Avis Budget Group Inc. (NASDAQ:CAR) by 69.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 9,600 shares of the business services provider’s stock after selling 21,425 shares during the period. Man Group plc’s holdings in Avis Budget Group were worth $309,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its stake in Avis Budget Group by 2,182.1% in the third quarter. Tower Research Capital LLC TRC now owns 6,390 shares of the business services provider’s stock worth $205,000 after purchasing an additional 6,110 shares during the last quarter. First Quadrant L P CA bought a new stake in Avis Budget Group in the third quarter worth $346,000. First Hawaiian Bank bought a new stake in Avis Budget Group in the third quarter worth $454,000. Public Employees Retirement System of Ohio lifted its stake in Avis Budget Group by 59.8% in the second quarter. Public Employees Retirement System of Ohio now owns 15,802 shares of the business services provider’s stock worth $514,000 after purchasing an additional 5,911 shares during the last quarter. Finally, Alps Advisors Inc. lifted its stake in Avis Budget Group by 75.8% in the third quarter. Alps Advisors Inc. now owns 23,199 shares of the business services provider’s stock worth $746,000 after purchasing an additional 10,005 shares during the last quarter.
In related news, SVP David T. Calabria sold 1,700 shares of the business’s stock in a transaction dated Tuesday, November 27th. The shares were sold at an average price of $29.29, for a total transaction of $49,793.00. Following the transaction, the senior vice president now owns 7,661 shares in the company, valued at $224,390.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by insiders.
Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings data on Monday, November 5th. The business services provider reported $3.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.54 by ($0.21). Avis Budget Group had a net margin of 4.09% and a return on equity of 60.18%. The firm had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter in the previous year, the firm posted $3.10 EPS. Avis Budget Group’s revenue was up .9% compared to the same quarter last year. As a group, equities analysts predict that Avis Budget Group Inc. will post 3.43 EPS for the current year.
CAR has been the topic of a number of analyst reports. Goldman Sachs Group set a $30.00 price objective on shares of Avis Budget Group and gave the company a “sell” rating in a research report on Tuesday, October 16th. Deutsche Bank set a $45.00 price objective on shares of Avis Budget Group and gave the company a “buy” rating in a research report on Tuesday, November 6th. BidaskClub cut shares of Avis Budget Group from a “buy” rating to a “hold” rating in a research report on Wednesday, December 12th. Finally, Zacks Investment Research cut shares of Avis Budget Group from a “hold” rating to a “sell” rating in a research report on Tuesday, January 8th. Four research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $41.00.
Avis Budget Group Company 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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