Avis Budget Group, Inc. (NASDAQ:CAR) Director Lynn Krominga Sells 1,405 Shares

Avis Budget Group, Inc. (NASDAQ:CAR) Director Lynn Krominga sold 1,405 shares of Avis Budget Group stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $95.00, for a total transaction of $133,475.00. Following the transaction, the director now directly owns 1,950 shares in the company, valued at approximately $185,250. This represents a 41.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Lynn Krominga also recently made the following trade(s):

• On Tuesday, February 18th, Lynn Krominga sold 661 shares of Avis Budget Group stock. The stock was sold at an average price of $95.00, for a total transaction of $62,795.00.

Avis Budget Group Price Performance

CAR stock traded down $0.05 during midday trading on Thursday, hitting $94.14. The company’s stock had a trading volume of 777,549 shares, compared to its average volume of 645,583. Avis Budget Group, Inc. has a twelve month low of $65.73 and a twelve month high of $132.25. The company’s fifty day moving average price is $87.26 and its 200 day moving average price is $88.13. The stock has a market capitalization of $3.31 billion, a P/E ratio of -1.82 and a beta of 2.26.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings results on Tuesday, February 11th. The business services provider reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.27. Avis Budget Group had a negative net margin of 15.45% and a negative return on equity of 32.07%. Equities analysts expect that Avis Budget Group, Inc. will post 8.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Avis Budget Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAR. International Assets Investment Management LLC increased its stake in Avis Budget Group by 19,203.5% in the 3rd quarter. International Assets Investment Management LLC now owns 481,044 shares of the business services provider’s stock valued at $421,350,000 after buying an additional 478,552 shares during the last quarter. Steadfast Capital Management LP bought a new position in shares of Avis Budget Group in the 4th quarter valued at about $25,747,000. ING Groep NV grew its position in shares of Avis Budget Group by 310.4% in the 4th quarter. ING Groep NV now owns 325,000 shares of the business services provider’s stock valued at $26,198,000 after acquiring an additional 245,800 shares during the period. National Bank of Canada FI grew its position in shares of Avis Budget Group by 266.7% in the 4th quarter. National Bank of Canada FI now owns 330,000 shares of the business services provider’s stock valued at $26,601,000 after acquiring an additional 240,000 shares during the period. Finally, Nomura Holdings Inc. grew its position in shares of Avis Budget Group by 93.2% in the 4th quarter. Nomura Holdings Inc. now owns 490,473 shares of the business services provider’s stock valued at $39,537,000 after acquiring an additional 236,576 shares during the period. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

About Avis Budget Group

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.