Bryce Point Capital LLC Takes Position in Avis Budget Group, Inc. (NASDAQ:CAR)

Bryce Point Capital LLC bought a new stake in Avis Budget Group, Inc. (NASDAQ:CAR) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 5,752 shares of the business services provider’s stock, valued at approximately $464,000.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew 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 worth $27,000 after acquiring an additional 183 shares during the last quarter. Signaturefd LLC grew its position in Avis Budget Group by 31.8% during the 4th quarter. Signaturefd LLC now owns 936 shares of the business services provider’s stock worth $75,000 after purchasing an additional 226 shares during the last quarter. Xponance Inc. increased its stake in Avis Budget Group by 11.2% in the fourth quarter. Xponance Inc. now owns 2,711 shares of the business services provider’s stock valued at $219,000 after purchasing an additional 274 shares during the period. US Bancorp DE increased its stake in Avis Budget Group by 9.6% in the fourth quarter. US Bancorp DE now owns 2,984 shares of the business services provider’s stock valued at $241,000 after purchasing an additional 261 shares during the period. Finally, Diversify Advisory Services LLC purchased a new stake in shares of Avis Budget Group in the fourth quarter valued at about $254,000. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised their price target on Avis Budget Group from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $130.71.

Avis Budget Group Stock Down 4.7 %

Shares of NASDAQ:CAR opened at $69.20 on Friday. Avis Budget Group, Inc. has a 52 week low of $54.03 and a 52 week high of $132.25. The company has a 50-day moving average price of $78.03 and a 200 day moving average price of $85.75. The company has a market cap of $2.44 billion, a P/E ratio of -1.34 and a beta of 2.37.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings results on Tuesday, February 11th. The business services provider reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.27. Avis Budget Group had a negative return on equity of 14.74% and a negative net margin of 15.45%. Analysts expect that Avis Budget Group, Inc. will post 8.91 EPS for the current year.

Insider Buying and Selling at Avis Budget Group

In other Avis Budget Group news, Director Lynn Krominga sold 1,405 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $95.00, for a total transaction of $133,475.00. Following the transaction, the director now directly owns 1,950 shares in the company, valued at approximately $185,250. This represents a 41.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 52.00% of the stock is owned by corporate insiders.

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.