Avis Budget Group, Inc. (NASDAQ:CAR) Director Sells $133,475.00 in Stock

Avis Budget Group, Inc. (NASDAQ:CAR) Director Lynn Krominga sold 1,405 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were 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 of the company’s stock, valued at $185,250. This represents a 41.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

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

Avis Budget Group Stock Performance

Shares of NASDAQ CAR traded down $0.05 during mid-day trading on Thursday, hitting $94.14. 777,549 shares of the stock were exchanged, compared to its average volume of 645,583. The company has a market cap of $3.31 billion, a P/E ratio of -1.82 and a beta of 2.26. The stock’s fifty day simple moving average is $87.26 and its two-hundred day simple moving average is $88.13. Avis Budget Group, Inc. has a twelve month low of $65.73 and a twelve month high of $132.25.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings data 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 32.07%. As a group, equities research analysts predict that Avis Budget Group, Inc. will post 8.91 earnings per share for the current fiscal year.

Institutional Trading of Avis Budget Group

Several hedge funds have recently modified their holdings of the company. Dupree Financial Group LLC bought a new stake in shares of Avis Budget Group during the third quarter valued at approximately $2,611,000. Lecap Asset Management Ltd. grew its stake in shares of 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 valued at $1,652,000 after purchasing an additional 5,466 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Avis Budget Group by 19,203.5% in the third quarter. International Assets Investment Management LLC now owns 481,044 shares of the business services provider’s stock valued at $421,350,000 after acquiring an additional 478,552 shares during the last quarter. Strategic Investment Solutions Inc. IL boosted its stake in Avis Budget Group by 198.3% in the third quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 240 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Avis Budget Group by 293.3% in the third quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 305 shares during the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CAR. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Avis Budget Group from $145.00 to $143.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. The Goldman Sachs Group increased their price target on shares of Avis Budget Group from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. StockNews.com raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Northcoast Research lowered shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a research report on Monday, November 18th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.