Dupree Financial Group LLC Invests $2.61 Million in Avis Budget Group, Inc. (NASDAQ:CAR)

Dupree Financial Group LLC purchased a new stake in shares of Avis Budget Group, Inc. (NASDAQ:CAR) during the third quarter, Holdings Channel reports. The institutional investor purchased 29,805 shares of the business services provider’s stock, valued at approximately $2,611,000.

Several other institutional investors and hedge funds also recently bought and sold shares of CAR. Rubric Capital Management LP lifted its position in shares of Avis Budget Group by 220.9% during the second quarter. Rubric Capital Management LP now owns 690,273 shares of the business services provider’s stock worth $72,147,000 after acquiring an additional 475,181 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Avis Budget Group during the 2nd quarter valued at $19,978,000. Toronto Dominion Bank purchased a new stake in Avis Budget Group during the 2nd quarter worth about $10,452,000. Natixis boosted its stake in Avis Budget Group by 1,339.3% in the 1st quarter. Natixis now owns 101,242 shares of the business services provider’s stock worth $12,398,000 after purchasing an additional 94,208 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in Avis Budget Group by 17.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 589,780 shares of the business services provider’s stock valued at $61,644,000 after buying an additional 88,279 shares in the last quarter. 96.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CAR. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Avis Budget Group from $155.00 to $146.00 and set a “buy” rating on the stock in a report on Friday, August 30th. JPMorgan Chase & Co. lowered their target price on shares of Avis Budget Group from $205.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. The Goldman Sachs Group reduced their price target on shares of Avis Budget Group from $105.00 to $90.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. Barclays initiated coverage on Avis Budget Group in a research report on Thursday, September 19th. They issued an “equal weight” rating and a $105.00 price objective on the stock. Finally, Susquehanna reduced their target price on Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $136.63.

Avis Budget Group Stock Performance

Shares of NASDAQ:CAR opened at $79.65 on Wednesday. The firm has a market capitalization of $2.84 billion, a PE ratio of 2.51 and a beta of 2.13. Avis Budget Group, Inc. has a 52-week low of $65.73 and a 52-week high of $204.77. The firm has a fifty day moving average of $82.45 and a 200 day moving average of $98.37.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings data on Monday, August 5th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.60 by ($2.19). The firm had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Avis Budget Group had a negative return on equity of 230.71% and a net margin of 6.58%. Avis Budget Group’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $11.01 earnings per share. On average, sell-side analysts forecast that Avis Budget Group, Inc. will post 7.68 EPS 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 products and services to businesses and consumers in the Americas, Europe, the Middle East and Africa, Asia, and Australasia. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; and the Zipcar brand, a car sharing network, as well as the Budget brand, a supplier of vehicle rental and other mobility solutions focused primarily on more value-conscious customers comprising Budget car rental, and Budget Truck, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of dealer-operated and company-operated locations that serve the light commercial and consumer sectors in the continental United States.