Public Employees Retirement System of Ohio Increases Stock Holdings in Avis Budget Group Inc. (NASDAQ:CAR)

Public Employees Retirement System of Ohio lifted its stake in Avis Budget Group Inc. (NASDAQ:CAR) by 305.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,530 shares of the business services provider’s stock after purchasing an additional 7,180 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Avis Budget Group were worth $335,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. World Asset Management Inc lifted its holdings in shares of Avis Budget Group by 4.3% in the 2nd quarter. World Asset Management Inc now owns 7,791 shares of the business services provider’s stock worth $274,000 after buying an additional 319 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in shares of Avis Budget Group by 13.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 3,294 shares of the business services provider’s stock worth $116,000 after buying an additional 403 shares during the period. Pearl River Capital LLC lifted its holdings in shares of Avis Budget Group by 51.6% in the 2nd quarter. Pearl River Capital LLC now owns 1,483 shares of the business services provider’s stock worth $52,000 after buying an additional 505 shares during the period. Arizona State Retirement System lifted its holdings in shares of Avis Budget Group by 1.3% in the 2nd quarter. Arizona State Retirement System now owns 46,280 shares of the business services provider’s stock worth $1,627,000 after buying an additional 578 shares during the period. Finally, Advisors Preferred LLC purchased a new stake in shares of Avis Budget Group in the 2nd quarter worth $30,000. Hedge funds and other institutional investors own 99.77% of the company’s stock.

CAR has been the subject of several research reports. Morgan Stanley set a $32.00 target price on Avis Budget Group and gave the stock a “sell” rating in a report on Friday, August 9th. Northcoast Research reiterated a “buy” rating on shares of Avis Budget Group in a report on Tuesday, August 6th. TheStreet cut Avis Budget Group from a “b-” rating to a “c” rating in a report on Monday, September 16th. BidaskClub upgraded Avis Budget Group from a “strong sell” rating to a “sell” rating in a report on Thursday, September 12th. Finally, ValuEngine lowered Avis Budget Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $39.00.

Shares of CAR traded down $0.15 during trading hours on Monday, hitting $29.19. The company had a trading volume of 19,431 shares, compared to its average volume of 955,967. The company has a market capitalization of $2.24 billion, a PE ratio of 8.00 and a beta of 2.11. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 46.72. Avis Budget Group Inc. has a one year low of $21.63 and a one year high of $37.27. The company’s fifty day moving average price is $27.99 and its two-hundred day moving average price is $32.61.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings results on Monday, August 5th. The business services provider reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.06. The firm had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.35 billion. Avis Budget Group had a return on equity of 75.35% and a net margin of 2.17%. The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.57 EPS. Analysts forecast that Avis Budget Group Inc. will post 4.05 earnings per share for the current year.

Avis Budget Group Company Profile

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 5,500 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 18,000 vehicles, which are rented through a network of approximately 640 dealer-operated and 430 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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