As Avis Budget Group (CAR) Market Valuation Declined, Shareholder Proxima Capital Management LLC Has Cut Its Stake

February 15, 2018 - By Adrian Mccoy

Investors sentiment decreased to 0.58 in 2017 Q3. Its down 0.46, from 1.04 in 2017Q2. It dived, as 45 investors sold CAR 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. The Florida-based Dreman Value Mngmt L L C has invested 0.24% in Avis Budget Group, Inc. (NASDAQ:CAR). Savings Bank Of Ny Mellon reported 4.53M shares. Sg Americas Ltd Liability Corporation holds 0.01% of its portfolio in Avis Budget Group, Inc. (NASDAQ:CAR) for 15,243 shares. Panagora Asset Management Inc stated it has 0.02% in Avis Budget Group, Inc. (NASDAQ:CAR). Schwab Charles Inv Mgmt Incorporated invested in 0.02% or 588,118 shares. Telemus Cap Ltd Llc reported 5,533 shares or 0.03% of all its holdings. Lucus Advsrs Ltd invested in 9,083 shares. Globeflex LP stated it has 10,950 shares. 407,449 are held by Bbt Mngmt Llc. Picton Mahoney Asset holds 0.1% of its portfolio in Avis Budget Group, Inc. (NASDAQ:CAR) for 35,700 shares. Deprince Race Zollo Inc accumulated 5,300 shares or 0% of the stock. Shanda Asset Ltd invested in 0.51% or 100,000 shares. Columbus Hill Capital Mgmt Limited Partnership holds 220,226 shares or 0.6% of its portfolio. World Asset Mgmt holds 6,166 shares or 0.01% of its portfolio. Friess Lc stated it has 410,000 shares.

Since August 31, 2017, it had 1 insider purchase, and 7 insider sales for $123.81 million activity. Shares for $141.96M were bought by SRS Investment Management – LLC on Friday, December 8. Servodidio Mark J sold $1.05 million worth of Avis Budget Group, Inc. (NASDAQ:CAR) on Thursday, August 31. Another trade for 150,000 shares valued at $5.60M was sold by NELSON RONALD L. Linnen Edward P also sold $108,270 worth of Avis Budget Group, Inc. (NASDAQ:CAR) on Thursday, August 31. Calabria David T had sold 1,300 shares worth $46,618 on Wednesday, September 6. De Shon Larry D had sold 25,000 shares worth $1.05 million on Monday, October 30.

Youlia Miteva decreased its stake in Avis Budget Group (CAR) by 57.42% based on its latest 2017Q3 regulatory filing with the SEC. Proxima Capital Management Llc sold 333,012 shares as the company’s stock declined 33.71% while stock markets rallied. The hedge fund run by Youlia Miteva held 246,988 shares of the consumer services company at the end of 2017Q3, valued at $9.40M, down from 580,000 at the end of the previous reported quarter. Proxima Capital Management Llc who had been investing in Avis Budget Group for a number of months, seems to be less bullish one the $3.14B market cap company. The stock decreased 0.59% or $0.23 during the last trading session, reaching $38.5. About 804,981 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.

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 50.66 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.

More notable recent Avis Budget Group, Inc. (NASDAQ:CAR) news were published by: Globenewswire.com which released: “Avis Budget Group Announces Amendment and Extension of Its Senior Credit Agreement” on February 14, 2018, also Seekingalpha.com with their article: “Avis: Poison Pill Pulled Out” published on January 18, 2018, Nasdaq.com published: “Foot Locker, Avis Budget Group, Chipotle and Yum Brands highlighted as Zacks …” 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 Announces Estimated Full-Year 2017 Results” published on January 16, 2018 as well as Globenewswire.com‘s news article titled: “Avis Budget Group Drives Forward Connected Car Innovation with ID Systems …” with publication date: February 12, 2018.

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 had 34 analyst reports since August 5, 2015 according to SRatingsIntel. The rating was initiated by J.P. Morgan on Friday, August 4 with “Buy”. The rating was maintained by Deutsche Bank with “Buy” on Thursday, February 25. The stock of Avis Budget Group, Inc. (NASDAQ:CAR) has “Buy” rating given on Thursday, August 4 by Deutsche Bank. On Monday, December 14 the stock rating was maintained by M Partners with “Buy”. Barclays Capital maintained it with “Equal-Weight” rating and $33 target in Wednesday, August 10 report. M Partners maintained the shares of CAR in report on Thursday, October 12 with “Buy” rating. Morgan Stanley maintained it with “Underweight” rating and $18 target in Friday, August 25 report. The company was maintained on Thursday, September 14 by Credit Suisse. The rating was downgraded by Credit Suisse to “Neutral” on Friday, February 17. Credit Suisse maintained the shares of CAR in report on Tuesday, April 12 with “Outperform” rating.

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