Avis Budget Group, Inc. (NASDAQ:CAR) is Mountain Lake Investment Management LLC’s 7th Largest Position

Mountain Lake Investment Management LLC trimmed its holdings in Avis Budget Group, Inc. (NASDAQ:CAR) by 9.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 67,547 shares of the business services provider’s stock after selling 7,453 shares during the quarter. Avis Budget Group accounts for approximately 6.3% of Mountain Lake Investment Management LLC’s investment portfolio, making the stock its 7th biggest holding. Mountain Lake Investment Management LLC’s holdings in Avis Budget Group were worth $5,426,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. GAMMA Investing LLC grew its stake in Avis Budget Group by 118.8% in the 4th quarter. GAMMA Investing LLC now owns 337 shares of the business services provider’s stock valued at $27,000 after buying an additional 183 shares in the last quarter. Yousif Capital Management LLC grew its stake in Avis Budget Group by 2.5% in the 4th quarter. Yousif Capital Management LLC now owns 7,592 shares of the business services provider’s stock valued at $612,000 after buying an additional 187 shares in the last quarter. Strategic Investment Solutions Inc. IL grew its stake in Avis Budget Group by 198.3% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider’s stock valued at $32,000 after buying an additional 240 shares in the last quarter. Inspire Investing LLC grew its stake in Avis Budget Group by 6.4% in the 4th quarter. Inspire Investing LLC now owns 4,984 shares of the business services provider’s stock valued at $402,000 after buying an additional 301 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in Avis Budget Group by 293.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider’s stock valued at $36,000 after buying an additional 305 shares in the last quarter. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. StockNews.com upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. Northcoast Research downgraded shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a report on Monday, November 18th. JPMorgan Chase & Co. cut their price target on shares of Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Avis Budget Group from $145.00 to $143.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group raised their price target on shares of Avis Budget Group from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Avis Budget Group presently has an average rating of “Hold” and a consensus target price of $133.75.

Avis Budget Group Stock Performance

NASDAQ CAR opened at $90.75 on Friday. Avis Budget Group, Inc. has a 52-week low of $65.73 and a 52-week high of $132.25. The company has a market capitalization of $3.19 billion, a P/E ratio of 8.29 and a beta of 2.26. The company has a fifty day moving average of $87.67 and a 200-day moving average of $88.08.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings data on Tuesday, February 11th. The business services provider reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.27. Avis Budget Group had a net margin of 3.34% and a negative return on equity of 101.41%. As a group, analysts forecast that Avis Budget Group, Inc. will post 3.69 EPS for the current fiscal year.

Avis Budget Group Profile

Avis Budget Group, Inc engages in the provision of vehicle sharing and rental services. It operates through the following segments: Americas, International, and Corporate and Other. The Americas segment includes the vehicle rental and car sharing operations in North America, South America, Central America, and the Caribbean.