Avis Budget Group Inc. (CAR) Stake Increased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its position in shares of Avis Budget Group Inc. (NASDAQ:CAR) by 0.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,604,504 shares of the business services provider’s stock after acquiring an additional 14,568 shares during the period. Dimensional Fund Advisors LP owned approximately 1.97% of Avis Budget Group worth $52,146,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of CAR. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Avis Budget Group by 65.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 22,732 shares of the business services provider’s stock valued at $1,065,000 after purchasing an additional 8,969 shares during the last quarter. New York State Common Retirement Fund lifted its stake in shares of Avis Budget Group by 6.8% in the 1st quarter. New York State Common Retirement Fund now owns 92,500 shares of the business services provider’s stock valued at $4,333,000 after purchasing an additional 5,902 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of Avis Budget Group by 944.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 398,798 shares of the business services provider’s stock valued at $18,680,000 after purchasing an additional 360,622 shares during the last quarter. Delpha Capital Management LLC lifted its stake in shares of Avis Budget Group by 28.8% in the 1st quarter. Delpha Capital Management LLC now owns 5,315 shares of the business services provider’s stock valued at $249,000 after purchasing an additional 1,189 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Avis Budget Group by 12,509.1% in the 1st quarter. Sei Investments Co. now owns 4,161 shares of the business services provider’s stock valued at $195,000 after purchasing an additional 4,128 shares during the last quarter.

Several brokerages have recently commented on CAR. ValuEngine lowered Avis Budget Group from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Zacks Investment Research lowered Avis Budget Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 1st. BidaskClub lowered Avis Budget Group from a “hold” rating to a “sell” rating in a research note on Friday, July 13th. Barclays decreased their target price on Avis Budget Group from $41.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 22nd. Finally, Morgan Stanley started coverage on Avis Budget Group in a research note on Tuesday, June 26th. They set an “underweight” rating and a $30.00 target price on the stock. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $43.71.

CAR opened at $32.33 on Thursday. Avis Budget Group Inc. has a one year low of $29.94 and a one year high of $50.88. The stock has a market capitalization of $2.55 billion, a PE ratio of 11.34 and a beta of 1.91. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 41.18.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings data on Tuesday, August 7th. The business services provider reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. Avis Budget Group had a return on equity of 63.08% and a net margin of 4.46%. The business had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the prior year, the business posted $0.30 EPS. research analysts expect that Avis Budget Group Inc. will post 3.48 earnings per share for the current year.

In related news, Director Leonard S. Coleman, Jr. sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $34.63, for a total transaction of $450,190.00. Following the transaction, the director now owns 2,339 shares in the company, valued at approximately $80,999.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.60% of the company’s stock.

About Avis Budget Group

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary services to businesses and consumers worldwide. It operates the Avis brand, a vehicle rental system with approximately 5,450 locations that supply rental cars to the premium commercial and leisure segments of the travel industry; the Budget brand, a vehicle rental and other mobility solutions primarily focuses on the value-conscious segments of the industry; the Zipcar brand, a membership-based car sharing network; and the Budget Truck brand, a local and one-way truck rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of approximately 925 dealer-operated and 450 company-operated locations that serve the consumer and light commercial sectors in the continental United States.

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

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