ING Groep NV Raises Stock Position in Avis Budget Group, Inc. (NASDAQ:CAR)

ING Groep NV increased its holdings in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 310.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 325,000 shares of the business services provider’s stock after purchasing an additional 245,800 shares during the period. ING Groep NV owned approximately 0.92% of Avis Budget Group worth $26,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CAR. GAMMA Investing LLC grew its position in Avis Budget Group by 118.8% during the fourth 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 during the period. Strategic Investment Solutions Inc. IL grew its position in shares of Avis Budget Group by 198.3% in the third quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 240 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Avis Budget Group by 293.3% in the third quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 305 shares during the period. Royce & Associates LP acquired a new stake in shares of Avis Budget Group in the third quarter valued at about $217,000. Finally, Diversify Advisory Services LLC acquired a new stake in shares of Avis Budget Group in the fourth quarter valued at about $254,000. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Avis Budget Group Trading Down 0.1 %

NASDAQ:CAR opened at $94.14 on Friday. The company’s 50-day moving average price is $87.26 and its 200-day moving average price is $88.13. The company has a market cap of $3.31 billion, a P/E ratio of -1.82 and a beta of 2.26. Avis Budget Group, Inc. has a twelve month low of $65.73 and a twelve month high of $132.25.

Avis Budget Group (NASDAQ:CAR) last issued its earnings results on Tuesday, February 11th. The business services provider reported ($0.23) EPS for the quarter, topping 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 32.07%. On average, analysts expect that Avis Budget Group, Inc. will post 8.91 earnings per share for the current year.

Insiders Place Their Bets

In other Avis Budget Group news, Director Lynn Krominga sold 1,405 shares of Avis Budget Group stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $95.00, for a total transaction of $133,475.00. Following the transaction, the director now directly owns 1,950 shares of the company’s stock, valued at $185,250. The trade was a 41.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 52.00% of the stock is owned by insiders.

Analyst Ratings Changes

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

About Avis Budget Group

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.