B. Riley Wealth Advisors Inc. Takes Position in Avis Budget Group, Inc. (NASDAQ:CAR)

B. Riley Wealth Advisors Inc. bought a new position in Avis Budget Group, Inc. (NASDAQ:CAR) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 3,020 shares of the business services provider’s stock, valued at approximately $263,000.

Several other large investors have also recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL raised its position in Avis Budget Group by 198.3% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider’s stock worth $32,000 after purchasing an additional 240 shares during the period. Algert Global LLC raised its holdings in shares of Avis Budget Group by 2.5% in the second quarter. Algert Global LLC now owns 10,165 shares of the business services provider’s stock worth $1,062,000 after buying an additional 245 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Avis Budget Group by 13.7% during the 2nd quarter. International Assets Investment Management LLC now owns 2,492 shares of the business services provider’s stock worth $260,000 after acquiring an additional 300 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Avis Budget Group by 293.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 305 shares during the period. Finally, Inspire Investing LLC grew its position in Avis Budget Group by 14.2% in the 2nd quarter. Inspire Investing LLC now owns 3,348 shares of the business services provider’s stock valued at $350,000 after acquiring an additional 416 shares during the last quarter. Institutional investors own 96.35% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Northcoast Research downgraded Avis Budget Group from a “buy” rating to a “neutral” rating in a research report on Monday, November 18th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Avis Budget Group from $145.00 to $143.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. JPMorgan Chase & Co. reduced their target price on shares of Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Barclays started coverage on Avis Budget Group in a report on Thursday, September 19th. They issued an “equal weight” rating and a $105.00 price target for the company. Finally, StockNews.com upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $133.75.

Avis Budget Group Trading Up 0.0 %

Shares of NASDAQ:CAR opened at $80.98 on Friday. The company has a market capitalization of $2.85 billion, a PE ratio of 7.40 and a beta of 2.20. Avis Budget Group, Inc. has a 12-month low of $65.73 and a 12-month high of $188.36. The business’s fifty day simple moving average is $93.65 and its 200-day simple moving average is $93.46.

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

Avis Budget Group Company 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.