Avis Budget Group, Inc. $CAR Shares Purchased by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp increased its holdings in Avis Budget Group, Inc. (NASDAQ:CAR) by 1,443.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,955 shares of the business services provider’s stock after buying an additional 14,921 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Avis Budget Group were worth $2,562,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CAR. Y Intercept Hong Kong Ltd acquired a new position in Avis Budget Group in the second quarter valued at approximately $1,297,000. Assenagon Asset Management S.A. lifted its holdings in Avis Budget Group by 62.7% during the third quarter. Assenagon Asset Management S.A. now owns 384,401 shares of the business services provider’s stock valued at $61,725,000 after purchasing an additional 148,093 shares in the last quarter. Caxton Associates LLP purchased a new position in Avis Budget Group in the 2nd quarter valued at about $4,628,000. Prescott Group Capital Management L.L.C. purchased a new position in shares of Avis Budget Group in the second quarter valued at approximately $2,367,000. Finally, Franklin Resources Inc. acquired a new stake in Avis Budget Group during the 2nd quarter worth $6,326,000. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CAR has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on shares of Avis Budget Group from $155.00 to $157.00 and gave the company a “neutral” rating in a report on Monday, October 20th. Zacks Research upgraded Avis Budget Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 18th. Barclays lowered their price objective on Avis Budget Group from $150.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Avis Budget Group in a research note on Wednesday, January 21st. Finally, Morgan Stanley reissued an “equal weight” rating and set a $142.00 price target (up previously from $115.00) on shares of Avis Budget Group in a research report on Monday, December 8th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $137.57.

Avis Budget Group Price Performance

Shares of CAR stock opened at $114.99 on Friday. Avis Budget Group, Inc. has a 1-year low of $54.03 and a 1-year high of $212.81. The firm has a market cap of $4.05 billion, a PE ratio of -1.92 and a beta of 2.31. The company has a 50-day moving average of $128.39 and a two-hundred day moving average of $147.30.

Avis Budget Group Company Profile

Avis Budget Group, Inc operates as a leading global provider of vehicle rental and mobility solutions. Through its two core brands, Avis® and Budget®, the company offers a broad range of rental options including daily, weekly and monthly car rentals for leisure and business travelers. In addition to traditional airport and off-airport car rental services, Avis Budget Group delivers innovative mobility platforms such as car-sharing programs and connected fleet solutions designed to meet the evolving needs of corporate, government and individual customers.

The company’s roots trace back to Avis Rent a Car, founded in 1946, and Budget Rent a Car, established in 1958.