Avis Budget Group, Inc. (NASDAQ:CAR) Director Lynn Krominga Sells 661 Shares

Avis Budget Group, Inc. (NASDAQ:CAR - Get Free Report) Director Lynn Krominga sold 661 shares of the 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 sale, the director now directly owns 3,355 shares in the company, valued at $318,725. This trade represents a 16.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 shares were sold at an average price of $95.00, for a total transaction of $133,475.00.

Avis Budget Group Stock Down 0.4 %

Avis Budget Group stock traded down $0.39 during mid-day trading on Monday, hitting $86.71. The company's stock had a trading volume of 413,677 shares, compared to its average volume of 639,058. Avis Budget Group, Inc. has a twelve month low of $65.73 and a twelve month high of $132.25. The stock has a market capitalization of $3.04 billion, a P/E ratio of -1.67 and a beta of 2.26. The stock's fifty day moving average price is $87.16 and its two-hundred day moving average price is $88.18.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The business services provider reported ($0.23) EPS for the quarter, beating analysts' consensus estimates 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 analysts expect that Avis Budget Group, Inc. will post 8.91 earnings per share for the current year.

Remove Ads

Institutional Trading of Avis Budget Group

Several hedge funds and other institutional investors have recently modified their holdings of CAR. FMR LLC boosted its holdings in Avis Budget Group by 4.0% during the third quarter. FMR LLC now owns 3,354,546 shares of the business services provider's stock valued at $293,825,000 after acquiring an additional 129,805 shares during the period. State Street Corp increased its holdings in shares of Avis Budget Group by 2.5% during the 3rd quarter. State Street Corp now owns 672,227 shares of the business services provider's stock worth $58,880,000 after purchasing an additional 16,221 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Avis Budget Group by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 592,341 shares of the business services provider's stock valued at $51,883,000 after acquiring an additional 2,561 shares during the period. Nomura Holdings Inc. grew its holdings in shares of Avis Budget Group by 93.2% during the 4th quarter. Nomura Holdings Inc. now owns 490,473 shares of the business services provider's stock worth $39,537,000 after purchasing an additional 236,576 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of 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 purchasing an additional 478,552 shares in the last quarter. Institutional investors and hedge funds own 96.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CAR shares. The Goldman Sachs Group increased their price target on Avis Budget Group from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. cut their target price on Avis Budget Group from $175.00 to $150.00 and set an "overweight" rating on the stock in a research note on Monday, November 4th. StockNews.com upgraded Avis Budget Group from a "sell" rating to a "hold" rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft lowered 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 research note on Tuesday, November 5th. Finally, Northcoast Research downgraded Avis Budget Group from a "buy" rating to a "neutral" rating in a research report on Monday, November 18th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $133.75.

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.