JAT Capital Mgmt LP Has $16.19 Million Stock Holdings in Avis Budget Group, Inc. (NASDAQ:CAR)

JAT Capital Mgmt LP lowered its stake in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 49.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 200,876 shares of the business services provider’s stock after selling 197,294 shares during the period. Avis Budget Group makes up 2.6% of JAT Capital Mgmt LP’s portfolio, making the stock its 12th biggest position. JAT Capital Mgmt LP’s holdings in Avis Budget Group were worth $16,193,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of CAR. Assenagon Asset Management S.A. boosted its stake in shares of Avis Budget Group by 139.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 379,805 shares of the business services provider’s stock worth $30,616,000 after acquiring an additional 221,456 shares during the period. National Bank of Canada FI raised its holdings 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 purchasing an additional 240,000 shares during the last quarter. ING Groep NV increased its stake in shares of Avis Budget Group by 310.4% in 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 in the last quarter. Charles Schwab Investment Management Inc. lifted 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. Finally, Barclays PLC lifted its position in Avis Budget Group by 30.5% in the 3rd quarter. Barclays PLC now owns 200,576 shares of the business services provider’s stock valued at $17,571,000 after acquiring an additional 46,922 shares in the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

Insider Activity

In other news, Director Lynn Krominga sold 661 shares of Avis Budget Group stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $95.00, for a total value of $62,795.00. Following the completion of the sale, the director now directly owns 3,355 shares of the company’s stock, valued at approximately $318,725. The trade was a 16.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 52.80% of the company’s stock.

Avis Budget Group Stock Down 3.0 %

CAR stock opened at $91.76 on Wednesday. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of -1.77 and a beta of 2.05. Avis Budget Group, Inc. has a twelve month low of $54.03 and a twelve month high of $132.25. The firm’s fifty day simple moving average is $73.49 and its two-hundred day simple moving average is $84.74.

Avis Budget Group (NASDAQ:CAR) last announced its earnings results on Tuesday, February 11th. The business services provider reported ($0.23) earnings per share for the quarter, beating the consensus estimate 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%. As a group, equities research analysts expect that Avis Budget Group, Inc. will post 8.91 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Avis Budget Group from a “hold” rating to a “sell” rating in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $121.33.

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.