Dupont Capital Management Corp Has $167,000 Stock Holdings in Avis Budget Group Inc. (NASDAQ:CAR)
Dupont Capital Management Corp boosted its holdings in shares of Avis Budget Group Inc. (NASDAQ:CAR) by 10.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,913 shares of the business services provider’s stock after buying an additional 549 shares during the period. Dupont Capital Management Corp’s holdings in Avis Budget Group were worth $167,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in CAR. First Trust Advisors LP raised its holdings in Avis Budget Group by 13.2% during the first quarter. First Trust Advisors LP now owns 37,787 shares of the business services provider’s stock worth $1,317,000 after buying an additional 4,400 shares during the last quarter. Exane Derivatives acquired a new position in Avis Budget Group during the second quarter worth $132,000. World Asset Management Inc raised its holdings in Avis Budget Group by 4.3% during the second quarter. World Asset Management Inc now owns 7,791 shares of the business services provider’s stock worth $274,000 after buying an additional 319 shares during the last quarter. Convergence Investment Partners LLC acquired a new position in Avis Budget Group during the second quarter worth $132,000. Finally, Arizona State Retirement System raised its holdings in Avis Budget Group by 1.3% during the second quarter. Arizona State Retirement System now owns 46,280 shares of the business services provider’s stock worth $1,627,000 after buying an additional 578 shares during the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.
CAR has been the subject of several analyst reports. ValuEngine downgraded shares of Avis Budget Group from a “sell” rating to a “strong sell” rating in a report on Thursday, October 24th. TheStreet downgraded shares of Avis Budget Group from a “b-” rating to a “c” rating in a report on Monday, September 16th. Deutsche Bank set a $31.00 target price on shares of Avis Budget Group and gave the company a “hold” rating in a report on Monday, November 4th. Barclays reiterated a “hold” rating and issued a $33.00 target price on shares of Avis Budget Group in a report on Wednesday, October 23rd. Finally, BidaskClub upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $34.40.
Avis Budget Group (NASDAQ:CAR) last announced its earnings results on Thursday, October 31st. The business services provider reported $2.96 earnings per share for the quarter, missing analysts’ consensus estimates of $3.65 by ($0.69). The company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Avis Budget Group had a net margin of 1.91% and a return on equity of 66.13%. The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the prior year, the business earned $3.33 earnings per share. As a group, research analysts expect that Avis Budget Group Inc. will post 3.47 earnings per share for the current fiscal year.
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 5,500 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 18,000 vehicles, which are rented through a network of approximately 640 dealer-operated and 430 company-operated locations that serve the consumer and light commercial sectors in the continental United States.
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