Fieldview Capital Management LLC Takes Position in Avis Budget Group, Inc. $CAR

Fieldview Capital Management LLC acquired a new stake in Avis Budget Group, Inc. (NASDAQ:CAR) in the fourth quarter, Holdings Channel.com reports. The firm acquired 4,518 shares of the business services provider’s stock, valued at approximately $580,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Entropy Technologies LP purchased a new stake in shares of Avis Budget Group in the fourth quarter valued at approximately $330,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Avis Budget Group during the fourth quarter worth approximately $280,000. Marshall Wace LLP purchased a new stake in shares of Avis Budget Group during the fourth quarter worth approximately $611,000. Hudson Bay Capital Management LP purchased a new stake in shares of Avis Budget Group during the fourth quarter worth approximately $32,080,000. Finally, Quarry LP purchased a new stake in shares of Avis Budget Group during the fourth quarter worth approximately $27,000. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on CAR shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $125.00 price target on shares of Avis Budget Group in a research report on Friday, May 1st. JPMorgan Chase & Co. boosted their price target on Avis Budget Group from $140.00 to $155.00 and gave the stock an “underweight” rating in a research report on Tuesday, June 9th. Zacks Research upgraded Avis Budget Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Jefferies Financial Group cut Avis Budget Group from a “buy” rating to a “hold” rating and boosted their price target for the stock from $112.00 to $160.00 in a research report on Friday, May 1st. Finally, Barclays set a $160.00 price target on Avis Budget Group and gave the stock an “equal weight” rating in a research report on Monday, June 8th. Six investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $129.63.

Avis Budget Group Stock Performance

NASDAQ CAR opened at $190.07 on Tuesday. The stock’s fifty day moving average is $230.99 and its two-hundred day moving average is $159.62. The firm has a market capitalization of $6.72 billion, a P/E ratio of -9.98 and a beta of 1.87. Avis Budget Group, Inc. has a fifty-two week low of $85.96 and a fifty-two week high of $847.70.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings data on Wednesday, April 29th. The business services provider reported ($8.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($6.82) by ($1.19). The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.43 billion. The business’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($14.35) earnings per share. As a group, sell-side analysts forecast that Avis Budget Group, Inc. will post 2.93 EPS for the current year.

Insiders Place Their Bets

In other Avis Budget Group news, EVP Ravi Simhambhatla sold 3,469 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $184.09, for a total transaction of $638,608.21. Following the transaction, the executive vice president owned 13,876 shares of the company’s stock, valued at approximately $2,554,432.84. The trade was a 20.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Pentwater Capital Management L sold 3,347 shares of the business’s stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $438.74, for a total value of $1,468,462.78. Following the transaction, the insider directly owned 6,177,100 shares in the company, valued at $2,710,140,854. This trade represents a 0.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 16,299 shares of company stock valued at $3,836,012. Insiders own 50.48% of the company’s stock.

About Avis Budget Group

Avis Budget Group, Inc operates as a leading global provider of vehicle rental and mobility solutions. Through its two core brands, Avis® and Budget®, the company offers a broad range of rental options including daily, weekly and monthly car rentals for leisure and business travelers. In addition to traditional airport and off-airport car rental services, Avis Budget Group delivers innovative mobility platforms such as car-sharing programs and connected fleet solutions designed to meet the evolving needs of corporate, government and individual customers.

The company’s roots trace back to Avis Rent a Car, founded in 1946, and Budget Rent a Car, established in 1958.