Insider Selling: Avis Budget Group, Inc. (NASDAQ:CAR) Director Sells 661 Shares of Stock

Avis Budget Group, Inc. (NASDAQ:CAR) Director Lynn Krominga sold 661 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $95.00, for a total transaction of $62,795.00. Following the transaction, the director now owns 3,355 shares of the company’s stock, valued at approximately $318,725. The trade was a 16.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Thursday, February 20th, Lynn Krominga sold 1,405 shares of Avis Budget Group stock. The stock was sold at an average price of $95.00, for a total transaction of $133,475.00.

Avis Budget Group Stock Performance

Shares of CAR opened at $87.10 on Friday. Avis Budget Group, Inc. has a fifty-two week low of $65.73 and a fifty-two week high of $132.25. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of -1.68 and a beta of 2.26. The firm has a 50-day simple moving average of $87.16 and a 200-day simple moving average of $88.17.

Avis Budget Group (NASDAQ:CAR) last announced its earnings results on Tuesday, February 11th. The business services provider reported ($0.23) earnings per share for the quarter, topping 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 14.74%. Equities research analysts forecast that Avis Budget Group, Inc. will post 8.91 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CAR shares. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Avis Budget Group from $145.00 to $143.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. JPMorgan Chase & Co. decreased their price objective on shares of Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. StockNews.com upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. The Goldman Sachs Group upped their price objective on shares of Avis Budget Group from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Northcoast Research downgraded shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a research note on Monday, November 18th. Five equities research 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 company currently has a consensus rating of “Hold” and an average target price of $133.75.

Institutional Investors Weigh In On Avis Budget Group

Several hedge funds have recently made changes to their positions in CAR. Dupree Financial Group LLC acquired a new stake in shares of Avis Budget Group during the third quarter worth about $2,611,000. Lecap Asset Management Ltd. raised its holdings in Avis Budget Group by 40.8% during the third quarter. Lecap Asset Management Ltd. now owns 18,862 shares of the business services provider’s stock worth $1,652,000 after purchasing an additional 5,466 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Avis Budget Group by 19,203.5% during the third quarter. International Assets Investment Management LLC now owns 481,044 shares of the business services provider’s stock worth $421,350,000 after purchasing an additional 478,552 shares in the last quarter. Strategic Investment Solutions Inc. IL raised its holdings in Avis Budget Group by 198.3% during the third quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider’s stock worth $32,000 after purchasing an additional 240 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in Avis Budget Group by 293.3% during the third 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 in the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

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.