Quantinno Capital Management LP Raises Position in Avis Budget Group, Inc. (NASDAQ:CAR)

Quantinno Capital Management LP grew its holdings in Avis Budget Group, Inc. (NASDAQ:CAR) by 361.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,399 shares of the business services provider’s stock after acquiring an additional 18,326 shares during the period. Quantinno Capital Management LP’s holdings in Avis Budget Group were worth $1,886,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new position in Avis Budget Group during the 4th quarter worth $25,000. Quadrant Capital Group LLC boosted its stake in shares of Avis Budget Group by 41.0% in the 4th quarter. Quadrant Capital Group LLC now owns 681 shares of the business services provider’s stock valued at $55,000 after buying an additional 198 shares during the period. Sterling Capital Management LLC grew its position in shares of Avis Budget Group by 41.3% during the fourth quarter. Sterling Capital Management LLC now owns 736 shares of the business services provider’s stock worth $59,000 after buying an additional 215 shares in the last quarter. Signaturefd LLC increased its stake in shares of Avis Budget Group by 31.8% during the fourth quarter. Signaturefd LLC now owns 936 shares of the business services provider’s stock worth $75,000 after buying an additional 226 shares during the period. Finally, Covestor Ltd raised its holdings in Avis Budget Group by 36.1% in the fourth quarter. Covestor Ltd now owns 1,353 shares of the business services provider’s stock valued at $109,000 after acquiring an additional 359 shares in the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Wall Street Analysts Forecast Growth

CAR has been the subject of a number of recent research reports. StockNews.com upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 3rd. JPMorgan Chase & Co. raised their price objective on shares of Avis Budget Group from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Finally, The Goldman Sachs Group lowered their target price on shares of Avis Budget Group from $100.00 to $87.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $117.00.

Avis Budget Group Stock Down 2.7%

Shares of CAR opened at $108.97 on Thursday. The stock has a 50 day moving average price of $82.64 and a 200 day moving average price of $86.96. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of -2.10 and a beta of 2.10. Avis Budget Group, Inc. has a 52-week low of $54.03 and a 52-week high of $115.65.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings data on Wednesday, May 7th. The business services provider reported ($14.35) earnings per share for the quarter, missing the consensus estimate of ($5.72) by ($8.63). Avis Budget Group had a negative return on equity of 14.74% and a negative net margin of 15.45%. The company had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the prior year, the firm posted ($3.21) EPS. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. On average, equities analysts anticipate that Avis Budget Group, Inc. will post 8.91 EPS for the current fiscal year.

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.