ING Groep NV Grows Holdings in Avis Budget Group, Inc. (NASDAQ:CAR)

ING Groep NV grew its stake in Avis Budget Group, Inc. (NASDAQ:CAR) by 310.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 325,000 shares of the business services provider’s stock after acquiring an additional 245,800 shares during the period. ING Groep NV’s holdings in Avis Budget Group were worth $26,198,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC raised its stake in shares of Avis Budget Group by 118.8% in the 4th quarter. GAMMA Investing LLC now owns 337 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 183 shares during the period. Strategic Investment Solutions Inc. IL grew its holdings in shares of Avis Budget Group by 198.3% in the third quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 240 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Avis Budget Group by 293.3% in the third quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 305 shares in the last quarter. Royce & Associates LP acquired a new position in shares of Avis Budget Group in the third quarter valued at approximately $217,000. Finally, Diversify Advisory Services LLC acquired a new position in shares of Avis Budget Group in the fourth quarter valued at approximately $254,000. 96.35% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Avis Budget Group

In other news, Director Lynn Krominga sold 661 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $95.00, for a total transaction of $62,795.00. Following the completion of the sale, the director now owns 3,355 shares in the company, valued at approximately $318,725. The trade was a 16.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 52.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CAR. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Avis Budget Group from $145.00 to $143.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. StockNews.com upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Northcoast Research cut shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a report on Monday, November 18th. The Goldman Sachs Group lifted their price objective on shares of Avis Budget Group from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $133.75.

Avis Budget Group Stock Down 0.1 %

NASDAQ CAR opened at $94.14 on Friday. Avis Budget Group, Inc. has a 52 week low of $65.73 and a 52 week high of $132.25. The stock has a market capitalization of $3.31 billion, a PE ratio of -1.82 and a beta of 2.26. The firm has a 50 day moving average of $87.26 and a two-hundred day moving average of $88.13.

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 32.07%. On average, equities research analysts expect that Avis Budget Group, Inc. will post 8.91 earnings per share for the current fiscal 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.