Avis Budget Group, Inc. (NASDAQ:CAR) saw unusually large options trading on Monday. Investors purchased 11,831 put options on the company. This represents an increase of approximately 706% compared to the average volume of 1,468 put options.

Several hedge funds and other institutional investors have recently modified their holdings of CAR. Oregon Public Employees Retirement Fund raised its position in shares of Avis Budget Group by 1.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 33,000 shares of the business services provider’s stock worth $976,000 after buying an additional 400 shares during the last quarter. DUPONT CAPITAL MANAGEMENT Corp raised its position in shares of Avis Budget Group by 21.9% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 108,100 shares of the business services provider’s stock worth $3,198,000 after buying an additional 19,396 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Avis Budget Group by 435.5% in the first quarter. Russell Investments Group Ltd. now owns 72,420 shares of the business services provider’s stock worth $2,142,000 after buying an additional 58,896 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new position in shares of Avis Budget Group during the first quarter worth $20,706,000. Finally, New Jersey Better Educational Savings Trust purchased a new position in shares of Avis Budget Group during the first quarter worth $355,000.

Avis Budget Group (CAR) opened at 32.34 on Thursday. Avis Budget Group has a 12-month low of $20.71 and a 12-month high of $41.53. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 27.36 and a beta of 2.49. The company’s 50 day moving average price is $28.85 and its 200-day moving average price is $29.92.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings results on Monday, August 7th. The business services provider reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.32. The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.27 billion. Avis Budget Group had a net margin of 0.86% and a return on equity of 66.03%. Avis Budget Group’s revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.63 earnings per share. On average, equities analysts anticipate that Avis Budget Group will post $2.74 earnings per share for the current fiscal year.

CAR has been the topic of a number of analyst reports. Deutsche Bank AG reiterated a “buy” rating and set a $45.00 price objective on shares of Avis Budget Group in a research note on Wednesday, June 14th. ValuEngine upgraded Avis Budget Group from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. MKM Partners reiterated a “buy” rating and set a $40.00 price objective on shares of Avis Budget Group in a research note on Wednesday, June 28th. BidaskClub upgraded Avis Budget Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Finally, Zacks Investment Research upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $36.40.

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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.

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