World Asset Management Inc Purchases 319 Shares of Avis Budget Group Inc. (NASDAQ:CAR)

World Asset Management Inc raised its position in shares of Avis Budget Group Inc. (NASDAQ:CAR) by 4.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,791 shares of the business services provider’s stock after acquiring an additional 319 shares during the quarter. World Asset Management Inc’s holdings in Avis Budget Group were worth $274,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Thrivent Financial for Lutherans boosted its position in shares of Avis Budget Group by 6.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 16,902 shares of the business services provider’s stock worth $380,000 after purchasing an additional 1,006 shares in the last quarter. Chesapeake Asset Management LLC bought a new position in shares of Avis Budget Group during the 1st quarter worth about $480,000. Norges Bank bought a new position in shares of Avis Budget Group during the 4th quarter worth about $13,058,000. James Investment Research Inc. boosted its position in shares of Avis Budget Group by 78.0% during the 1st quarter. James Investment Research Inc. now owns 23,294 shares of the business services provider’s stock worth $812,000 after purchasing an additional 10,204 shares in the last quarter. Finally, Commonwealth Bank of Australia boosted its position in shares of Avis Budget Group by 9.3% during the 1st quarter. Commonwealth Bank of Australia now owns 282,538 shares of the business services provider’s stock worth $9,843,000 after purchasing an additional 24,035 shares in the last quarter.

Shares of CAR traded down $0.36 on Tuesday, reaching $33.54. The company’s stock had a trading volume of 96,553 shares, compared to its average volume of 961,560. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 51.70. Avis Budget Group Inc. has a twelve month low of $21.63 and a twelve month high of $39.15. The firm has a market cap of $2.64 billion, a PE ratio of 9.15 and a beta of 2.08. The company has a fifty day moving average of $35.23.

Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Monday, August 5th. The business services provider reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.06. Avis Budget Group had a net margin of 1.77% and a return on equity of 71.86%. The company 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 business posted $0.57 EPS. The firm’s revenue was up .4% compared to the same quarter last year. Equities research analysts forecast that Avis Budget Group Inc. will post 4.05 EPS for the current fiscal year.

CAR has been the topic of a number of research analyst reports. ValuEngine cut shares of Avis Budget Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Zacks Investment Research cut shares of Avis Budget Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Finally, BidaskClub raised shares of Avis Budget Group from a “hold” rating to a “buy” rating in a research report on Friday, June 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Avis Budget Group has an average rating of “Hold” and a consensus price target of $40.50.

About Avis Budget Group

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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