Dupree Financial Group LLC Invests $2.61 Million in Avis Budget Group, Inc. (NASDAQ:CAR)

Dupree Financial Group LLC bought a new stake in shares of Avis Budget Group, Inc. (NASDAQ:CAR) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 29,805 shares of the business services provider’s stock, valued at approximately $2,611,000. Dupree Financial Group LLC owned approximately 0.08% of Avis Budget Group at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Rubric Capital Management LP lifted its position in shares of 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 valued at $72,147,000 after acquiring an additional 475,181 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Avis Budget Group during the second quarter valued at about $19,978,000. Toronto Dominion Bank bought a new position in shares of Avis Budget Group during the 2nd quarter worth about $10,452,000. Natixis grew its stake in shares of Avis Budget Group by 1,339.3% in the 1st quarter. Natixis now owns 101,242 shares of the business services provider’s stock valued at $12,398,000 after buying an additional 94,208 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Avis Budget Group by 17.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 589,780 shares of the business services provider’s stock valued at $61,644,000 after buying an additional 88,279 shares during the period. Institutional investors and hedge funds own 96.35% of the company’s stock.

Avis Budget Group Stock Up 0.2 %

Avis Budget Group stock opened at $79.65 on Wednesday. The stock has a market cap of $2.84 billion, a P/E ratio of 2.51 and a beta of 2.13. The company’s 50 day moving average price is $82.45 and its two-hundred day moving average price is $98.37. Avis Budget Group, Inc. has a 52 week low of $65.73 and a 52 week high of $204.77.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings data on Monday, August 5th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.60 by ($2.19). The business had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.13 billion. Avis Budget Group had a net margin of 6.58% and a negative return on equity of 230.71%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $11.01 EPS. On average, equities analysts anticipate that Avis Budget Group, Inc. will post 7.68 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on CAR. Barclays started coverage on Avis Budget Group in a research note on Thursday, September 19th. They set an “equal weight” rating and a $105.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut their target price on Avis Budget Group from $155.00 to $146.00 and set a “buy” rating on the stock in a report on Friday, August 30th. StockNews.com lowered shares of Avis Budget Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. dropped their price objective on shares of Avis Budget Group from $205.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group decreased their target price on shares of Avis Budget Group from $105.00 to $90.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $136.63.

About Avis Budget Group

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.