3,020 Shares in Avis Budget Group, Inc. (NASDAQ:CAR) Bought by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. purchased a new stake in Avis Budget Group, Inc. (NASDAQ:CAR) in the third quarter, HoldingsChannel.com reports. The firm purchased 3,020 shares of the business services provider’s stock, valued at approximately $263,000.

Several other institutional investors have also added to or reduced their stakes in the business. FMR LLC lifted its stake in shares of Avis Budget Group by 4.0% during the third quarter. FMR LLC now owns 3,354,546 shares of the business services provider’s stock worth $293,825,000 after buying an additional 129,805 shares during the period. Rubric Capital Management LP lifted its position in Avis Budget Group by 220.9% during the 2nd quarter. Rubric Capital Management LP now owns 690,273 shares of the business services provider’s stock worth $72,147,000 after acquiring an additional 475,181 shares during the period. State Street Corp grew its stake in Avis Budget Group by 2.5% during the 3rd quarter. State Street Corp now owns 672,227 shares of the business services provider’s stock valued at $58,880,000 after purchasing an additional 16,221 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Avis Budget Group by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 592,341 shares of the business services provider’s stock valued at $51,883,000 after purchasing an additional 2,561 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of Avis Budget Group by 19,203.5% during the third quarter. International Assets Investment Management LLC now owns 481,044 shares of the business services provider’s stock worth $421,350,000 after purchasing an additional 478,552 shares during the period. Institutional investors and hedge funds own 96.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Barclays began coverage on shares of Avis Budget Group in a report on Thursday, September 19th. They set an “equal weight” rating and a $105.00 target price for the company. Northcoast Research lowered shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a report on Monday, November 18th. JPMorgan Chase & Co. reduced their price objective on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, The Goldman Sachs Group upped their target price on Avis Budget Group from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Avis Budget Group has an average rating of “Hold” and a consensus target price of $133.75.

Avis Budget Group Trading Up 0.0 %

NASDAQ CAR opened at $80.98 on Friday. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 7.40 and a beta of 2.20. The stock has a 50-day moving average of $93.65 and a 200 day moving average of $93.46. Avis Budget Group, Inc. has a twelve month low of $65.73 and a twelve month high of $188.36.

Avis Budget Group (NASDAQ:CAR) last announced its earnings results on Thursday, October 31st. The business services provider reported $6.65 earnings per share for the quarter, missing the consensus estimate of $8.55 by ($1.90). Avis Budget Group had a negative return on equity of 101.41% and a net margin of 3.34%. The business had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.53 billion. During the same period in the previous year, the company earned $16.78 earnings per share. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. Equities analysts predict that Avis Budget Group, Inc. will post 3.59 EPS 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.