Atria Investments LLC Invests $271,000 in Avis Budget Group (NASDAQ:CAR) Stock

Atria Investments LLC bought a new stake in shares of Avis Budget Group (NASDAQ:CAR) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,788 shares of the business services provider’s stock, valued at approximately $271,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CAR. Teacher Retirement System of Texas raised its position in shares of Avis Budget Group by 309.1% in the fourth quarter. Teacher Retirement System of Texas now owns 25,611 shares of the business services provider’s stock worth $1,124,000 after acquiring an additional 19,351 shares during the period. Jefferies Group LLC acquired a new position in shares of Avis Budget Group in the fourth quarter worth about $283,506,000. Virtu Financial LLC acquired a new position in shares of Avis Budget Group in the fourth quarter worth about $790,000. Two Sigma Advisers LP acquired a new position in shares of Avis Budget Group in the fourth quarter worth about $18,987,000. Finally, MetLife Investment Advisors LLC acquired a new position in shares of Avis Budget Group in the fourth quarter worth about $3,431,000.

CAR stock opened at $43.03 on Tuesday. Avis Budget Group has a 52 week low of $20.71 and a 52 week high of $50.88. The stock has a market cap of $3.41 billion, a PE ratio of 15.10 and a beta of 2.19. The company has a debt-to-equity ratio of 30.69, a current ratio of 1.18 and a quick ratio of 1.18.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings data on Wednesday, May 2nd. The business services provider reported ($0.74) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.02) by $0.28. Avis Budget Group had a net margin of 4.24% and a return on equity of 66.71%. The company had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the prior year, the company earned ($0.94) EPS. Avis Budget Group’s revenue was up 7.0% compared to the same quarter last year. equities analysts anticipate that Avis Budget Group will post 3.6 EPS for the current fiscal year.

A number of research analysts have weighed in on the stock. BidaskClub downgraded shares of Avis Budget Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 9th. TheStreet downgraded shares of Avis Budget Group from a “b-” rating to a “c” rating in a research report on Wednesday, May 2nd. Goldman Sachs cut shares of Avis Budget Group from a “neutral” rating to a “sell” rating and cut their target price for the stock from $40.12 to $33.00 in a research note on Wednesday, February 14th. Northcoast Research cut shares of Avis Budget Group from a “buy” rating to a “neutral” rating and set a $49.00 target price for the company. in a research note on Wednesday, April 11th. They noted that the move was a valuation call. Finally, Deutsche Bank boosted their target price on shares of Avis Budget Group from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $42.00.

In related news, Director John D. Jr. Hardy sold 1,022 shares of the company’s stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $44.64, for a total transaction of $45,622.08. Following the completion of the sale, the director now owns 1,022 shares of the company’s stock, valued at approximately $45,622.08. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Stender E. Sweeney sold 2,878 shares of the company’s stock in a transaction dated Friday, May 4th. The shares were sold at an average price of $45.00, for a total transaction of $129,510.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,900 shares of company stock valued at $400,732. 1.60% of the stock is owned by corporate insiders.

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.

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

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