Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 2.36MM shares of Avis Budget Group Inc. (CAR). This represents 5.7% of the company.
In their previous filing dated February 1, 2022 they reported 4.68MM shares and 8.30% of the company, a decrease in shares of 49.55% and a decrease in total ownership of 2.60% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 20.13% Upside
As of February 1, 2023, the average one-year price target for Avis Budget Group is $240.31. The forecasts range from a low of $161.60 to a high of $304.50. The average price target represents an increase of 20.13% from its latest reported closing price of $200.04.
The projected annual revenue for Avis Budget Group is $11,759MM, a decrease of 0.28%. The projected annual EPS is $26.25, a decrease of 50.67%.
Fund Sentiment
There are 638 funds or institutions reporting positions in Avis Budget Group. This is a decrease of 60 owner(s) or 8.60%.
Average portfolio weight of all funds dedicated to US:CAR is 0.2714%, a decrease of 2.4929%. Total shares owned by institutions decreased in the last three months by 8.98% to 44,175K shares.
What are large shareholders doing?
SRS Investment Management holds 18,430,882 shares representing 44.45% ownership of the company. No change in the last quarter.
FDGRX - Fidelity Growth Company Fund holds 1,955,554 shares representing 4.72% ownership of the company. In it's prior filing, the firm reported owning 2,116,463 shares, representing a decrease of 8.23%. The firm increased its portfolio allocation in CAR by 26.03% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 861,514 shares representing 2.08% ownership of the company. In it's prior filing, the firm reported owning 855,171 shares, representing an increase of 0.74%. The firm increased its portfolio allocation in CAR by 6.00% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 842,769 shares representing 2.03% ownership of the company. In it's prior filing, the firm reported owning 985,617 shares, representing a decrease of 16.95%. The firm decreased its portfolio allocation in CAR by 13.26% over the last quarter.
Natixis holds 734,000 shares representing 1.77% ownership of the company. In it's prior filing, the firm reported owning 300,000 shares, representing an increase of 59.13%. The firm increased its portfolio allocation in CAR by 218.88% over the last quarter.
Avis Budget Group Background Information
(This description is provided by the company.)
Avis Budget Group, Inc. is a leading global provider of mobility solutions, both through its Avis and Budget brands, which have more than 10,000 rental locations in approximately 180 countries around the world, and through its Zipcar brand, which is the world's leading car sharing network with more than one million members. Avis Budget Group operates most of its car rental offices in North America, Europe and Australasia directly, and operates primarily through licensees in other parts of the world. Avis Budget Group is headquartered in Parsippany, N.J.
This story originally appeared on Fintel.
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