Ipg Investment Advisors Lowers stake in Avis Budget Group (CAR)

Avis Budget Group (CAR) : Ipg Investment Advisors reduced its stake in Avis Budget Group by 36.8% during the most recent quarter end. The investment management company now holds a total of 244,135 shares of Avis Budget Group which is valued at $8,881,631 after selling 142,155 shares in Avis Budget Group , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Avis Budget Group makes up approximately 3.54% of Ipg Investment Advisors’s portfolio.

Other Hedge Funds, Including , Blackrock Group Ltd reduced its stake in CAR by selling 6,762 shares or 6.54% in the most recent quarter. The Hedge Fund company now holds 96,649 shares of CAR which is valued at $3,516,091.Tlp Group boosted its stake in CAR in the latest quarter, The investment management firm added 8,482 additional shares and now holds a total of 25,513 shares of Avis Budget Group which is valued at $989,394. Avis Budget Group makes up approx 0.59% of Tlp Group’s portfolio. Ci Global Investments sold out all of its stake in CAR during the most recent quarter. The investment firm sold 3,092,762 shares of CAR which is valued $118,638,350.Stoneridge Investment Partners reduced its stake in CAR by selling 12,199 shares or 22.35% in the most recent quarter. The Hedge Fund company now holds 42,382 shares of CAR which is valued at $1,582,968. Avis Budget Group makes up approx 0.22% of Stoneridge Investment Partners’s portfolio.

Avis Budget Group closed down -0.09 points or -0.24% at $37.04 with 11,49,616 shares getting traded on Friday. Post opening the session at $36.92, the shares hit an intraday low of $36.45 and an intraday high of $37.07 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Avis Budget Group reported $0.63 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus of $0.71. The company had revenue of $2243.00 million for the quarter, compared to analysts expectations of $2214.71 million. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 EPS.

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 Company’s 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.

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