Louisiana State Employees Retirement System lessened its holdings in shares of Avis Budget Group Inc. (NASDAQ:CAR) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,200 shares of the business services provider’s stock after selling 1,000 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Avis Budget Group were worth $387,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. First Hawaiian Bank increased its holdings in shares of Avis Budget Group by 12.3% in the 4th quarter. First Hawaiian Bank now owns 15,878 shares of the business services provider’s stock valued at $357,000 after acquiring an additional 1,744 shares during the period. Cerebellum GP LLC boosted its position in shares of Avis Budget Group by 7,427.9% in the 4th quarter. Cerebellum GP LLC now owns 9,711 shares of the business services provider’s stock worth $218,000 after purchasing an additional 9,582 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Avis Budget Group by 1.0% in the 3rd quarter. Legal & General Group Plc now owns 175,308 shares of the business services provider’s stock worth $5,634,000 after purchasing an additional 1,685 shares in the last quarter. Morgan Stanley boosted its position in shares of Avis Budget Group by 17.6% in the 3rd quarter. Morgan Stanley now owns 459,721 shares of the business services provider’s stock worth $14,775,000 after purchasing an additional 68,696 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Avis Budget Group by 13.1% in the 3rd quarter. AQR Capital Management LLC now owns 143,596 shares of the business services provider’s stock worth $4,615,000 after purchasing an additional 16,629 shares in the last quarter.
In related news, SVP David T. Calabria sold 1,700 shares of Avis Budget Group stock in a transaction dated Tuesday, November 27th. The stock was sold at an average price of $29.29, for a total value of $49,793.00. Following the completion of the transaction, the senior vice president now owns 7,661 shares in the company, valued at approximately $224,390.69. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.60% of the stock is owned by insiders.
Shares of Avis Budget Group stock opened at $25.68 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 27.75. Avis Budget Group Inc. has a twelve month low of $21.63 and a twelve month high of $50.88. The stock has a market capitalization of $1.99 billion, a P/E ratio of 7.11 and a beta of 1.94.
CAR has been the subject of a number of recent analyst reports. Deutsche Bank set a $45.00 price objective on Avis Budget Group and gave the stock a “buy” rating in a research report on Thursday, October 25th. Goldman Sachs Group set a $30.00 price target on Avis Budget Group and gave the stock a “sell” rating in a research report on Tuesday, October 16th. BidaskClub cut Avis Budget Group from a “buy” rating to a “hold” rating in a research report on Wednesday, December 12th. Finally, Zacks Investment Research raised Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Monday, November 12th. Four analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Avis Budget Group currently has a consensus rating of “Hold” and a consensus target price of $41.00.
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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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