Tower Research Capital LLC TRC Grows Stock Holdings in Avis Budget Group, Inc. (NASDAQ:CAR)

Tower Research Capital LLC TRC raised its position in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 258.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,412 shares of the business services provider’s stock after buying an additional 3,180 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Avis Budget Group were worth $356,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CAR. Barclays PLC lifted its position in shares of Avis Budget Group by 30.5% during the third quarter. Barclays PLC now owns 200,576 shares of the business services provider’s stock valued at $17,571,000 after buying an additional 46,922 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Avis Budget Group during the third quarter valued at about $263,000. GAMMA Investing LLC lifted its position in shares of 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 last quarter. Assenagon Asset Management S.A. lifted its position in shares of Avis Budget Group by 139.9% during the fourth 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 last quarter. Finally, Diversify Advisory Services LLC purchased a new stake in shares of Avis Budget Group during the fourth quarter valued at about $254,000. 96.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Avis Budget Group from a “hold” rating to a “sell” rating in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $117.60.

Insider Activity at Avis Budget Group

In related news, Director Lynn Krominga sold 1,405 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $95.00, for a total transaction of $133,475.00. Following the completion of the transaction, the director now directly owns 1,950 shares in the company, valued at $185,250. The trade was a 41.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 52.80% of the stock is currently owned by insiders.

Avis Budget Group Trading Up 0.4 %

NASDAQ:CAR opened at $92.97 on Friday. Avis Budget Group, Inc. has a 12 month low of $54.03 and a 12 month high of $132.25. The firm has a fifty day simple moving average of $73.73 and a 200-day simple moving average of $84.88. The company has a market capitalization of $3.27 billion, a P/E ratio of -1.79 and a beta of 2.05.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings data on Tuesday, February 11th. The business services provider reported ($0.23) EPS for the quarter, topping 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%. Equities analysts forecast that Avis Budget Group, Inc. will post 8.91 EPS for the current year.

Avis Budget Group 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.