Duality Advisers LP Invests $794,000 in Avis Budget Group, Inc. (NASDAQ:CAR)

Duality Advisers LP purchased a new position in Avis Budget Group, Inc. (NASDAQ:CAR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,480 shares of the business services provider’s stock, valued at approximately $794,000.

A number of other large investors have also recently made changes to their positions in CAR. Hudson Bay Capital Management LP bought a new stake in shares of Avis Budget Group in the third quarter worth approximately $62,892,000. Hsbc Holdings PLC grew its position in Avis Budget Group by 1,573.0% during the third quarter. Hsbc Holdings PLC now owns 362,965 shares of the business services provider’s stock valued at $64,799,000 after buying an additional 341,269 shares during the period. Bank of Nova Scotia grew its position in Avis Budget Group by 63.1% during the third quarter. Bank of Nova Scotia now owns 289,648 shares of the business services provider’s stock valued at $52,047,000 after buying an additional 112,073 shares during the period. ING Groep NV bought a new stake in Avis Budget Group during the third quarter valued at approximately $16,172,000. Finally, JS Capital Management LLC bought a new stake in Avis Budget Group during the third quarter valued at approximately $12,578,000. 96.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CAR has been the subject of several recent research reports. The Goldman Sachs Group upgraded shares of Avis Budget Group from a “sell” rating to a “neutral” rating and boosted their target price for the company from $118.00 to $130.00 in a research report on Thursday, April 4th. StockNews.com raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, February 12th. Bank of America began coverage on shares of Avis Budget Group in a report on Tuesday, March 19th. They set a “buy” rating and a $170.00 price target on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Avis Budget Group from $202.00 to $183.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Finally, Morgan Stanley lowered their price target on shares of Avis Budget Group from $190.00 to $187.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Avis Budget Group has a consensus rating of “Moderate Buy” and an average target price of $172.86.

Avis Budget Group Stock Performance

CAR stock opened at $103.30 on Thursday. Avis Budget Group, Inc. has a one year low of $98.84 and a one year high of $244.95. The company’s fifty day moving average price is $112.32 and its 200-day moving average price is $154.03. The company has a market capitalization of $3.68 billion, a PE ratio of 2.42 and a beta of 2.22.

Avis Budget Group (NASDAQ:CAR) last released its earnings results on Tuesday, February 13th. The business services provider reported $7.10 EPS for the quarter, topping the consensus estimate of $4.15 by $2.95. Avis Budget Group had a net margin of 13.59% and a negative return on equity of 696.69%. The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the previous year, the firm earned $10.46 earnings per share. The company’s quarterly revenue was down .3% compared to the same quarter last year. On average, research analysts predict that Avis Budget Group, Inc. will post 14.73 EPS for the current fiscal year.

Avis Budget Group Company Profile

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers in the Americas, Europe, the Middle East and Africa, Asia, and Australasia. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; and the Zipcar brand, a car sharing network, as well as the Budget brand, a supplier of vehicle rental and other mobility solutions focused primarily on more value-conscious customers comprising Budget car rental, and Budget Truck, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of dealer-operated and company-operated locations that serve the light commercial and consumer sectors in the continental United States.