Avis Budget Group (CAR) : Tiger Veda Management has sold out all of its stake in Avis Budget Group during the most recent quarter, according to the disclosure filed by the company on Apr 20, 2016 with the SEC. The investment management company has sold out 342,778 shares of Avis Budget Group which is valued at $8,583,161.
Avis Budget Group opened for trading at $24.07 and hit $25.74 on the upside on Friday, eventually ending the session at $25.04, with a gain of 4.16% or 1 points. The heightened volatility saw the trading volume jump to 35,35,830 shares. Company has a market cap of $2,430 M.
Other Hedge Funds, Including , Cornerstone Advisors sold out all of its stake in CAR during the most recent quarter. The investment firm sold 583 shares of CAR which is valued $14,598.Oregon Public Employees Retirement Fund boosted its stake in CAR in the latest quarter, The investment management firm added 2,000 additional shares and now holds a total of 14,529 shares of Avis Budget Group which is valued at $333,150. Avis Budget Group makes up approx 0.01% of Oregon Public Employees Retirement Fund’s portfolio.Simplex Trading reduced its stake in CAR by selling 7,175 shares or 45.15% in the most recent quarter. The Hedge Fund company now holds 8,715 shares of CAR which is valued at $199,835. Avis Budget Group makes up approx 0.03% of Simplex Trading’s portfolio. Addison Capital Co sold out all of its stake in CAR during the most recent quarter. The investment firm sold 16,804 shares of CAR which is valued $385,316.Creative Planning reduced its stake in CAR by selling 2,262 shares or 53.39% in the most recent quarter. The Hedge Fund company now holds 1,975 shares of CAR which is valued at $44,813.
On the company’s financial health, Avis Budget Group reported $0.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Feb 23, 2016. Analyst had a consensus of $0.17. The company had revenue of $1902.00 million for the quarter, compared to analysts expectations of $1926.88 million. The company’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS.
Many Wall Street Analysts have commented on Avis Budget Group. Avis Budget Group was Initiated by Sterne Agee CRT to “Buy” on Mar 22, 2016. Shares were Reiterated by MKM Partners on Feb 25, 2016 to “Buy” and Lowered the Price Target to $ 38 from a previous price target of $63 .Shares were Reiterated by Barclays on Feb 25, 2016 to “Equal Weight” and Lowered the Price Target to $ 29 from a previous price target of $35 .
Avis Budget Group Inc. is a provider of vehicle rental and car sharing services. The Company operates three brands which include Avis Budget and Zipcar. Avis is a rental car supplier and Budget is a rental vehicle supplier. The Company also own Payless a car rental brand and Apex which is a car rental brand in New Zealand and Australia. The Company operates in three segments: North America International and Truck Rental. North America segment provides car rentals in the United States and vehicle rentals in Canada as well as ancillary products and services. International segment provides and licenses the Companys brands to third parties for vehicle rentals and ancillary products in Europe the Middle East Africa Asia South America Central America the Caribbean Australia and New Zealand. Truck Rental segment provides truck rentals and ancillary products and services to consumers and commercial users in the United States.