Chase Investment Counsel Corp Has $967,000 Stock Position in Avis Budget Group, Inc. (NASDAQ:CAR)

Chase Investment Counsel Corp reduced its position in Avis Budget Group, Inc. (NASDAQ:CAR) by 20.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 12,000 shares of the business services provider’s stock after selling 3,000 shares during the period. Chase Investment Counsel Corp’s holdings in Avis Budget Group were worth $967,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CAR. GAMMA Investing LLC increased its stake in shares of Avis Budget Group by 118.8% in the 4th quarter. GAMMA Investing LLC now owns 337 shares of the business services provider’s stock valued at $27,000 after buying an additional 183 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Avis Budget Group by 293.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider’s stock worth $36,000 after purchasing an additional 305 shares during the last quarter. Royce & Associates LP bought a new position in shares of Avis Budget Group in the 3rd quarter worth $217,000. US Bancorp DE boosted its position in shares of Avis Budget Group by 9.6% in the 4th quarter. US Bancorp DE now owns 2,984 shares of the business services provider’s stock worth $241,000 after purchasing an additional 261 shares during the last quarter. Finally, Diversify Advisory Services LLC bought a new position in shares of Avis Budget Group in the 4th quarter worth $254,000. 96.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. StockNews.com upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft reduced their price target on Avis Budget Group from $145.00 to $143.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Northcoast Research lowered Avis Budget Group from a “buy” rating to a “neutral” rating in a research report on Monday, November 18th. JPMorgan Chase & Co. reduced their price target on 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. Finally, The Goldman Sachs Group raised their price target on Avis Budget Group from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $133.75.

Insider Activity

In other news, Director Lynn Krominga sold 1,405 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $95.00, for a total value of $133,475.00. Following the sale, the director now directly owns 1,950 shares in the company, valued at $185,250. The trade was a 41.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 52.00% of the company’s stock.

Avis Budget Group Trading Down 1.5 %

CAR stock opened at $79.01 on Friday. The firm has a market cap of $2.77 billion, a PE ratio of -1.52 and a beta of 2.26. The business’s 50-day moving average price is $86.89 and its two-hundred day moving average price is $88.02. Avis Budget Group, Inc. has a 1-year low of $65.73 and a 1-year high of $132.25.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings results on Tuesday, February 11th. The business services provider reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.27. Avis Budget Group had a negative return on equity of 14.74% and a negative net margin of 15.45%. On average, analysts forecast that Avis Budget Group, Inc. will post 8.91 earnings per share 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.