Learn Why Jefferies Group Llc Purchased Avis Budget Group, Inc Stake?

February 15, 2018 - By Louis Casey

 Learn Why Jefferies Group Llc Purchased Avis Budget Group, Inc Stake?

Investors sentiment decreased to 0.58 in 2017 Q3. Its down 0.46, from 1.04 in 2017Q2. It is negative, as 45 investors sold Avis Budget Group, Inc. shares while 83 reduced holdings. 35 funds opened positions while 39 raised stakes. 110.63 million shares or 4.00% less from 115.24 million shares in 2017Q2 were reported.

Stifel Financial invested in 6,937 shares. Columbus Hill Mgmt L P holds 0.6% of its portfolio in Avis Budget Group, Inc. (NASDAQ:CAR) for 220,226 shares. Picton Mahoney Asset Mngmt holds 0.1% of its portfolio in Avis Budget Group, Inc. (NASDAQ:CAR) for 35,700 shares. Ohio-based Strs Ohio has invested 0% in Avis Budget Group, Inc. (NASDAQ:CAR). Diligent Investors Limited reported 0.34% stake. Tiaa Cref Investment Management Ltd Liability Co invested in 381,242 shares or 0.01% of the stock. Federated Invsts Pa holds 131,160 shares. Mutual Of America Mgmt Limited Company holds 60,582 shares. Liberty Mutual Grp Incorporated Asset Mngmt accumulated 0.05% or 22,033 shares. Florida-based State Board Of Administration Of Florida Retirement Sys has invested 0% in Avis Budget Group, Inc. (NASDAQ:CAR). Natl Bank Of America De holds 2.18 million shares. Schroder Inv Mgmt holds 12,348 shares. Hotchkis Wiley Mngmt Lc invested in 682,000 shares. Fifth Third Bancorp has invested 0% in Avis Budget Group, Inc. (NASDAQ:CAR). Balyasny Asset Ltd Llc holds 0.08% or 555,762 shares in its portfolio.

Since August 31, 2017, it had 1 insider purchase, and 7 insider sales for $123.81 million activity. On Thursday, August 31 the insider Linnen Edward P sold $108,270. Shares for $46,618 were sold by Calabria David T. Another trade for 25,000 shares valued at $1.05M was sold by De Shon Larry D. NELSON RONALD L sold $5.60 million worth of stock. The insider SRS Investment Management – LLC bought $141.96M. Sweeney Stender E sold $52,530 worth of stock.

The New Jefferies Group Llc Holding in Avis Budget Group, Inc

Jefferies Group Llc reported SC 13G form with the SEC for Avis Budget Group, Inc. Access it here: 000119312518045568. As reported by Jefferies Group Llc, the filler owns 8.8% or 7,155,783 shares of the Transports–company.

Avis Budget Group, Inc stake is new for [reportingPerson]. Date of activity: December8, 2017. This shows Jefferies Group Llc’s positive view for Avis Budget Group, Inc.

Avis Budget Group, Inc Institutional Sentiment

Filings show 217 investors own Avis Budget Group, Inc. The ownership in Q3 2015 is very high, at Infinity of the outstanding shares. This is increased by 10581198. 121095525 were owned by these investors. 30 funds opened new Avis Budget Group, Inc stakes, 80 increased positions. There were 62 that closed positions and 77 reduced them.

13 investors had the stock in their top 10. Some are: Srs Investment Management Llc, Mountain Lake Investment Management Llc, Proxima Capital Management Llc, Slate Path Capital Lp, Teewinot Capital Advisers L.L.C., Marianas Fund Management Llc, Par Capital Management Inc..

Jeffrey Tannenbaum Fir Tree Inc is an investor bullish on Avis Budget Group, Inc, owning 6828536 shares as of Q3 2015 for 5.00% of its portfolio. Manish Chopra Tiger Veda Management Llc owns 342778 shares or 8.93% of its portfolio. NY Srs Investment Management Llc have 13.76% of its portfolio for 9500000 shares. Further, Marcato Capital Management Lp reported stake worth 12.53% of its portfolio. The CA Ivory Investment Management Lp owns 4371800 shares. Avis Budget Group, Inc is 5.12% of its portfolio.

Business Profile

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 and Budget are a rental car supplier. It also owns Payless, which a car rental brand; Apex, which is a car rental brand in New Zealand and Australia; Maggiore, a vehicle rental brand in Italy, and France Cars, which operates light commercial vehicle fleets in France. The Company operates in two segments: Americas and International. The Americas segment provides and licenses the Company’s brands to third parties for vehicle rentals and ancillary products and services in North America, South America, Central America and the Caribbean, and operates its car sharing business in certain of these markets. The International segment provides and licenses the Company’s brands to third parties for vehicle rentals and ancillary products and services in Europe, the Middle East, Africa, Asia, Australia and New Zealand.

SEC Form 13G.

Analysts await Avis Budget Group, Inc. (NASDAQ:CAR) to report earnings on February, 21. They expect $0.19 EPS, up 26.67 % or $0.04 from last year’s $0.15 per share. CAR’s profit will be $15.47 million for 51.22 P/E if the $0.19 EPS becomes a reality. After $3.10 actual EPS reported by Avis Budget Group, Inc. for the previous quarter, Wall Street now forecasts -93.87 % negative EPS growth.

The stock increased 0.52% or $0.2 during the last trading session, reaching $38.93. About 1.17 million shares traded. Avis Budget Group, Inc. (NASDAQ:CAR) has declined 14.90% since February 15, 2017 and is downtrending. It has underperformed by 31.60% the S&P500.

Avis Budget Group, Inc., together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary services to businesses and clients worldwide. The company has market cap of $3.17 billion. The firm operates through two divisions, Americas and International. It has a 30.56 P/E ratio. It operates the Avis brand car rental system with approximately 5,550 locations that supply rental cars to the premium commercial and leisure divisions of the travel industry; the Budget brand vehicle rental system with approximately 4,050 car rental locations, which serve the value-conscious divisions of the industry; and the Zipcar brand, a membership car sharing network that provides vehicles to approximately 1 million members.

Avis Budget Group, Inc. (NASDAQ:CAR) Ratings Coverage

Among 11 analysts covering Avis Budget (NASDAQ:CAR), 7 have Buy rating, 2 Sell and 2 Hold. Therefore 64% are positive. Avis Budget has $63.0 highest and $18 lowest target. $37.20’s average target is -4.44% below currents $38.93 stock price. Avis Budget had 34 analyst reports since August 5, 2015 according to SRatingsIntel. Barclays Capital maintained Avis Budget Group, Inc. (NASDAQ:CAR) on Thursday, February 25 with “Equal-Weight” rating. Credit Suisse maintained Avis Budget Group, Inc. (NASDAQ:CAR) rating on Tuesday, April 12. Credit Suisse has “Outperform” rating and $34 target. The stock of Avis Budget Group, Inc. (NASDAQ:CAR) earned “Buy” rating by M Partners on Thursday, February 25. The firm has “Buy” rating given on Wednesday, November 8 by Deutsche Bank. The company was initiated on Friday, August 26 by Macquarie Research. M Partners maintained the shares of CAR in report on Monday, December 14 with “Buy” rating. The firm earned “Neutral” rating on Monday, October 24 by Goldman Sachs. The rating was maintained by Credit Suisse on Thursday, September 14 with “Hold”. On Wednesday, November 1 the stock rating was maintained by Barclays Capital with “Equal-Weight”. Barclays Capital maintained it with “Equal Weight” rating and $37 target in Tuesday, September 27 report.

More notable recent Avis Budget Group, Inc. (NASDAQ:CAR) news were published by: Benzinga.com which released: “Goldman Sees 18% Downside To Avis Budget Group, Downgrades to Sell” on February 14, 2018, also Nasdaq.com with their article: “Commit To Purchase Avis Budget Group At $28, Earn 12.1% Using Options” published on January 25, 2018, Globenewswire.com published: “Avis Budget Group Announces Amendment and Extension of Its Senior Credit Agreement” on February 14, 2018. More interesting news about Avis Budget Group, Inc. (NASDAQ:CAR) were released by: Globenewswire.com and their article: “Avis Budget Group Drives Forward Connected Car Innovation with ID Systems …” published on February 12, 2018 as well as Seekingalpha.com‘s news article titled: “Avis: Poison Pill Pulled Out” with publication date: January 18, 2018.

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