Virtu Financial LLC Invests $358,000 in Avis Budget Group, Inc. (NASDAQ:CAR)

Virtu Financial LLC purchased a new position in Avis Budget Group, Inc. (NASDAQ:CAR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,442 shares of the business services provider’s stock, valued at approximately $358,000.

Other hedge funds also recently bought and sold shares of the company. ING Groep NV raised its stake in shares of Avis Budget Group by 310.4% during the 4th quarter. ING Groep NV now owns 325,000 shares of the business services provider’s stock worth $26,198,000 after buying an additional 245,800 shares during the period. Assenagon Asset Management S.A. increased its holdings in Avis Budget Group by 139.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 379,805 shares of the business services provider’s stock worth $30,616,000 after acquiring an additional 221,456 shares in the last quarter. Wealthfront Advisers LLC acquired a new position in Avis Budget Group during the fourth quarter worth $12,164,000. Wolverine Asset Management LLC lifted its holdings in Avis Budget Group by 870.6% during the fourth quarter. Wolverine Asset Management LLC now owns 162,771 shares of the business services provider’s stock valued at $13,121,000 after purchasing an additional 146,000 shares in the last quarter. Finally, FMR LLC lifted its holdings in 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 valued at $293,825,000 after purchasing an additional 129,805 shares in the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Insider Activity at Avis Budget Group

In related 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 value of $133,475.00. Following the completion of the sale, the director now owns 1,950 shares of the company’s stock, valued at approximately $185,250. This represents a 41.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 52.00% of the company’s stock.

Avis Budget Group Stock Up 3.5 %

Avis Budget Group stock opened at $61.55 on Thursday. The company has a fifty day simple moving average of $80.29 and a 200-day simple moving average of $85.74. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of -1.19 and a beta of 2.37. Avis Budget Group, Inc. has a 52-week low of $54.03 and a 52-week high of $132.25.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings data on Tuesday, February 11th. The business services provider reported ($0.23) earnings per share (EPS) for the quarter, beating 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 14.74%. On average, research analysts anticipate that Avis Budget Group, Inc. will post 8.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group upped their price target on shares of Avis Budget Group from $85.00 to $95.00 and gave the stock a “neutral” rating in a research 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 a consensus rating of “Hold” and a consensus target price of $130.71.

About Avis Budget Group

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.