Credit Suisse AG boosted its stake in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 105.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 471,124 shares of the business services provider’s stock after buying an additional 241,739 shares during the period. Credit Suisse AG owned approximately 0.56% of Avis Budget Group worth $13,936,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. James Investment Research Inc. bought a new stake in Avis Budget Group during the first quarter worth about $113,000. World Asset Management Inc raised its position in Avis Budget Group by 8.9% in the first quarter. World Asset Management Inc now owns 7,474 shares of the business services provider’s stock worth $221,000 after buying an additional 610 shares during the last quarter. LS Investment Advisors LLC raised its position in Avis Budget Group by 27.6% in the first quarter. LS Investment Advisors LLC now owns 7,857 shares of the business services provider’s stock worth $232,000 after buying an additional 1,699 shares during the last quarter. ZWJ Investment Counsel Inc. purchased a new position in Avis Budget Group during the first quarter worth about $254,000. Finally, Parkwood LLC raised its position in Avis Budget Group by 36.4% in the first quarter. Parkwood LLC now owns 9,241 shares of the business services provider’s stock worth $273,000 after buying an additional 2,467 shares during the last quarter.

Shares of Avis Budget Group, Inc. (CAR) traded up 4.21% during trading on Friday, hitting $32.21. 3,818,259 shares of the company’s stock were exchanged. Avis Budget Group, Inc. has a 1-year low of $20.71 and a 1-year high of $41.53. The stock’s 50-day moving average price is $28.18 and its 200-day moving average price is $29.89. The stock has a market cap of $2.71 billion, a PE ratio of 27.25 and a beta of 2.49.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings results on Wednesday, May 3rd. The business services provider reported ($0.94) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by $0.43. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Avis Budget Group had a return on equity of 74.55% and a net margin of 1.24%. Avis Budget Group’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.28) earnings per share. On average, equities analysts expect that Avis Budget Group, Inc. will post $2.84 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Credit Suisse AG Purchases 241,739 Shares of Avis Budget Group, Inc. (NASDAQ:CAR)” was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece on another publication, it was stolen and republished in violation of international copyright and trademark law. The original version of this piece can be viewed at https://www.thecerbatgem.com/2017/08/04/credit-suisse-ag-raises-stake-in-avis-budget-group-inc-nasdaqcar-updated-updated-updated.html.

Several research firms have issued reports on CAR. Deutsche Bank AG restated a “buy” rating and issued a $45.00 price target on shares of Avis Budget Group in a research report on Wednesday, June 14th. ValuEngine upgraded shares of Avis Budget Group from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. MKM Partners reaffirmed a “buy” rating and set a $40.00 price objective on shares of Avis Budget Group in a report on Wednesday, June 28th. BidaskClub raised shares of Avis Budget Group from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, Zacks Investment Research raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $36.40.

In related news, Director John D. Jr. Hardy sold 992 shares of the company’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $27.20, for a total value of $26,982.40. Following the sale, the director now directly owns 992 shares of the company’s stock, valued at $26,982.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.80% of the stock is owned by corporate insiders.

Avis Budget Group Company Profile

Avis Budget Group Inc is a provider of vehicle rental and car sharing services. The Company operates three brands, which include Avis, Budget and Zipcar. Avis and Budget are a rental car supplier. It also owns Payless, which a car rental brand; Apex, which is a car rental brand in New Zealand and Australia; Maggiore, a vehicle rental brand in Italy, and France Cars, which operates light commercial vehicle fleets in France.

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

Receive News & Stock Ratings for Avis Budget Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avis Budget Group Inc. and related stocks with our FREE daily email newsletter.