Avis Budget Group, Inc. (NASDAQ:CAR) Shares Acquired by Nomura Holdings Inc.

Nomura Holdings Inc. lifted its holdings in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 93.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 490,473 shares of the business services provider’s stock after acquiring an additional 236,576 shares during the quarter. Nomura Holdings Inc. owned about 1.40% of Avis Budget Group worth $39,537,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CAR. ING Groep NV lifted its holdings in 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 worth $26,198,000 after buying an additional 245,800 shares in the last quarter. National Bank of Canada FI increased its position in shares of Avis Budget Group by 266.7% in 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. Jefferies Financial Group Inc. increased its position in shares of Avis Budget Group by 1,391.0% in the 4th quarter. Jefferies Financial Group Inc. now owns 253,200 shares of the business services provider’s stock worth $20,410,000 after purchasing an additional 236,218 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Avis Budget Group by 139.9% in 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 purchasing an additional 221,456 shares during the last quarter. Finally, Wealthfront Advisers LLC bought a new stake in shares of Avis Budget Group in the 4th quarter worth about $12,164,000. Institutional investors and hedge funds own 96.35% of the company’s stock.

Insider Transactions at Avis Budget Group

In other news, Director Lynn Krominga sold 1,405 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $95.00, for a total value of $133,475.00. Following the completion of the sale, the director now directly owns 1,950 shares of the company’s stock, valued at approximately $185,250. This represents a 41.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 52.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CAR shares. The Goldman Sachs Group dropped their target price on shares of Avis Budget Group from $100.00 to $87.00 and set a “neutral” rating for the company in a research report on Friday, May 9th. StockNews.com raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 3rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Avis Budget Group from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $117.00.

Avis Budget Group Trading Up 2.5%

NASDAQ CAR opened at $106.35 on Wednesday. Avis Budget Group, Inc. has a 52 week low of $54.03 and a 52 week high of $132.25. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of -2.05 and a beta of 2.10. The company has a 50-day moving average price of $76.70 and a two-hundred day moving average price of $85.89.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings results on Wednesday, May 7th. The business services provider reported ($14.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($5.72) by ($8.63). The company had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.49 billion. Avis Budget Group had a negative return on equity of 14.74% and a negative net margin of 15.45%. The company’s revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the company posted ($3.21) earnings per share. As a group, equities research analysts expect that Avis Budget Group, Inc. will post 8.91 earnings per share for the current fiscal year.

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.