Bryce Point Capital LLC Invests $464,000 in Avis Budget Group, Inc. (NASDAQ:CAR)

Bryce Point Capital LLC acquired a new stake in Avis Budget Group, Inc. (NASDAQ:CAR) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,752 shares of the business services provider’s stock, valued at approximately $464,000.

Other large investors have also modified their holdings of the company. State Street Corp raised its holdings in Avis Budget Group by 2.5% in the 3rd quarter. State Street Corp now owns 672,227 shares of the business services provider’s stock valued at $58,880,000 after buying an additional 16,221 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Avis Budget Group by 139.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 379,805 shares of the business services provider’s stock valued at $30,616,000 after buying an additional 221,456 shares during the period. National Bank of Canada FI lifted its stake in Avis Budget Group by 266.7% during the 4th quarter. National Bank of Canada FI now owns 330,000 shares of the business services provider’s stock worth $26,601,000 after acquiring an additional 240,000 shares in the last quarter. ING Groep NV boosted its holdings in Avis Budget Group by 310.4% during the 4th quarter. ING Groep NV now owns 325,000 shares of the business services provider’s stock valued at $26,198,000 after acquiring an additional 245,800 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Avis Budget Group by 9.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 203,274 shares of the business services provider’s stock valued at $16,386,000 after acquiring an additional 17,473 shares in the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

Insider Buying and Selling at Avis Budget Group

In other Avis Budget Group news, Director Lynn Krominga sold 1,405 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $95.00, for a total value of $133,475.00. Following the transaction, the director now directly owns 1,950 shares in the company, valued at $185,250. This represents a 41.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 52.00% of the stock is owned by insiders.

Avis Budget Group Stock Down 4.7 %

Shares of NASDAQ:CAR opened at $69.20 on Friday. Avis Budget Group, Inc. has a fifty-two week low of $54.03 and a fifty-two week high of $132.25. The firm’s 50 day moving average price is $78.03 and its 200 day moving average price is $85.75. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of -1.34 and a beta of 2.37.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings data on Tuesday, February 11th. The business services provider reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.27. Avis Budget Group had a negative net margin of 15.45% and a negative return on equity of 14.74%. On average, equities analysts anticipate that Avis Budget Group, Inc. will post 8.91 EPS for the current year.

Analyst Ratings Changes

Separately, The Goldman Sachs Group raised their price objective on shares of Avis Budget Group from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $130.71.

Avis Budget Group Company 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.