Strs Ohio Acquires 28,900 Shares of Avis Budget Group Inc. (NASDAQ:CAR)

Strs Ohio raised its position in Avis Budget Group Inc. (NASDAQ:CAR) by 1,806.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,500 shares of the business services provider’s stock after acquiring an additional 28,900 shares during the quarter. Strs Ohio’s holdings in Avis Budget Group were worth $1,072,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Thrivent Financial for Lutherans grew its holdings in shares of Avis Budget Group by 6.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 16,902 shares of the business services provider’s stock worth $380,000 after acquiring an additional 1,006 shares during the period. Amalgamated Bank acquired a new stake in shares of Avis Budget Group in the 4th quarter worth approximately $235,000. Dimensional Fund Advisors LP grew its holdings in shares of Avis Budget Group by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,648,885 shares of the business services provider’s stock worth $37,072,000 after acquiring an additional 50,078 shares during the period. Norges Bank acquired a new stake in shares of Avis Budget Group in the 4th quarter worth approximately $13,058,000. Finally, Geode Capital Management LLC grew its holdings in shares of Avis Budget Group by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 749,363 shares of the business services provider’s stock worth $16,845,000 after acquiring an additional 40,079 shares during the period.

CAR stock opened at $29.23 on Wednesday. Avis Budget Group Inc. has a 1 year low of $21.63 and a 1 year high of $37.27. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 46.72. The company has a 50 day moving average of $34.73. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 8.01 and a beta of 2.08.

Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Monday, August 5th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.06. Avis Budget Group had a return on equity of 75.35% and a net margin of 2.17%. The firm had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the company earned $0.57 EPS. Avis Budget Group’s revenue was up .4% on a year-over-year basis. On average, analysts anticipate that Avis Budget Group Inc. will post 4.05 EPS for the current year.

A number of research firms recently weighed in on CAR. TheStreet upgraded Avis Budget Group from a “c” rating to a “b-” rating in a report on Monday, August 5th. BidaskClub cut Avis Budget Group from a “buy” rating to a “hold” rating in a report on Tuesday. Morgan Stanley set a $32.00 price target on Avis Budget Group and gave the stock a “sell” rating in a report on Friday, August 9th. Zacks Investment Research cut Avis Budget Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 30th. Finally, Northcoast Research restated a “buy” rating on shares of Avis Budget Group in a report on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $38.80.

Avis Budget Group Profile

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary services to businesses and consumers worldwide. It operates the Avis brand, a vehicle rental system with approximately 5,500 locations that supply rental cars to the premium commercial and leisure segments of the travel industry; the Budget brand, a vehicle rental and other mobility solutions primarily focuses on the value-conscious segments of the industry; the Zipcar brand, a membership-based car sharing network; and the Budget Truck brand, a local and one-way truck rental businesses with a fleet of approximately 18,000 vehicles, which are rented through a network of approximately 640 dealer-operated and 430 company-operated locations that serve the consumer and light commercial sectors in the continental United States.

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Institutional Ownership by Quarter for Avis Budget Group (NASDAQ:CAR)

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