Teachers Advisors LLC raised its position in Avis Budget Group, Inc. (NASDAQ:CAR) by 10.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 340,983 shares of the business services provider’s stock after acquiring an additional 31,318 shares during the period. Teachers Advisors LLC owned about 0.40% of Avis Budget Group worth $9,299,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Russell Investments Group Ltd. increased its holdings in Avis Budget Group by 435.5% in the 1st quarter. Russell Investments Group Ltd. now owns 72,420 shares of the business services provider’s stock valued at $2,142,000 after buying an additional 58,896 shares during the period. Comerica Bank raised its stake in shares of Avis Budget Group by 2.5% in the 1st quarter. Comerica Bank now owns 67,329 shares of the business services provider’s stock valued at $2,174,000 after buying an additional 1,616 shares in the last quarter. World Asset Management Inc lifted its holdings in shares of Avis Budget Group by 8.9% during the 1st quarter. World Asset Management Inc now owns 7,474 shares of the business services provider’s stock worth $221,000 after acquiring an additional 610 shares during the period. Karp Capital Management Corp bought a new position in shares of Avis Budget Group during the 1st quarter worth about $531,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Avis Budget Group by 1.0% during the 1st quarter. Ameriprise Financial Inc. now owns 236,174 shares of the business services provider’s stock worth $6,986,000 after acquiring an additional 2,294 shares during the period.

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In other news, Director John D. Jr. Hardy sold 908 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $32.78, for a total value of $29,764.24. Following the sale, the director now directly owns 908 shares in the company, valued at approximately $29,764.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Stender E. Sweeney sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $35.02, for a total transaction of $52,530.00. Following the completion of the sale, the director now owns 1,359 shares in the company, valued at $47,592.18. The disclosure for this sale can be found here. In the last three months, insiders have sold 185,708 shares of company stock valued at $6,878,212. Insiders own 2.80% of the company’s stock.

Avis Budget Group, Inc. (CAR) opened at 38.92 on Wednesday. Avis Budget Group, Inc. has a 52-week low of $20.71 and a 52-week high of $41.53. The firm has a 50-day moving average of $35.91 and a 200-day moving average of $29.80. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 45.84 and a beta of 2.48.

Avis Budget Group (NASDAQ:CAR) last released its earnings results on Monday, August 7th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.32). Avis Budget Group had a net margin of 0.86% and a return on equity of 74.80%. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. The business’s revenue was down .2% on a year-over-year basis. On average, equities research analysts forecast that Avis Budget Group, Inc. will post $2.59 EPS for the current fiscal year.

Several analysts have recently weighed in on CAR shares. Morgan Stanley decreased their target price on shares of Avis Budget Group from $19.00 to $18.00 and set an “underweight” rating on the stock in a research report on Friday, August 25th. BidaskClub raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 24th. MKM Partners reissued a “buy” rating and issued a $40.00 price target on shares of Avis Budget Group in a research report on Wednesday, June 28th. Deutsche Bank AG restated a “buy” rating on shares of Avis Budget Group in a research note on Monday, June 26th. Finally, Zacks Investment Research upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Two analysts have rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $36.50.

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

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