Bayesian Capital Management LP Buys 3,256 Shares of Avis Budget Group, Inc. (NASDAQ:CAR)

Bayesian Capital Management LP grew its stake in Avis Budget Group, Inc. (NASDAQ:CAR) by 106.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,322 shares of the business services provider’s stock after acquiring an additional 3,256 shares during the quarter. Bayesian Capital Management LP’s holdings in Avis Budget Group were worth $510,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CAR. Amalgamated Bank grew its position in shares of Avis Budget Group by 2.0% in the 4th quarter. Amalgamated Bank now owns 7,973 shares of the business services provider’s stock valued at $643,000 after purchasing an additional 155 shares during the period. GAMMA Investing LLC lifted its stake in Avis Budget Group by 118.8% in 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 in the last quarter. Yousif Capital Management LLC boosted its holdings in shares of Avis Budget Group by 2.5% in the fourth quarter. Yousif Capital Management LLC now owns 7,592 shares of the business services provider’s stock valued at $612,000 after buying an additional 187 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of Avis Budget Group by 41.0% during the fourth quarter. Quadrant Capital Group LLC now owns 681 shares of the business services provider’s stock worth $55,000 after acquiring an additional 198 shares during the period. Finally, Sterling Capital Management LLC boosted its stake in Avis Budget Group by 41.3% in the 4th quarter. Sterling Capital Management LLC now owns 736 shares of the business services provider’s stock worth $59,000 after purchasing an additional 215 shares during the period. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Avis Budget Group Stock Up 1.0 %

Shares of NASDAQ:CAR opened at $97.29 on Wednesday. Avis Budget Group, Inc. has a 12-month low of $54.03 and a 12-month high of $132.25. The business has a 50 day moving average of $74.64 and a 200-day moving average of $85.25. The stock has a market cap of $3.42 billion, a PE ratio of -1.88 and a beta of 2.10.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings data on Tuesday, February 11th. The business services provider reported ($0.23) earnings per share 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 research analysts expect that Avis Budget Group, Inc. will post 8.91 earnings per share for the current year.

Insider Activity

In other Avis Budget Group news, Director Lynn Krominga sold 1,405 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was 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 owns 1,950 shares of the company’s stock, valued at approximately $185,250. The trade was a 41.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 52.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Saturday. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $117.60.

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.