Avis Budget Group, Inc. (NASDAQ:CAR) Short Interest Update

Avis Budget Group, Inc. (NASDAQ:CAR - Get Free Report) was the recipient of a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 2,810,000 shares, an increase of 19.6% from the January 31st total of 2,350,000 shares. Based on an average daily volume of 633,800 shares, the days-to-cover ratio is presently 4.4 days. Currently, 8.3% of the company's shares are sold short.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. The Goldman Sachs Group upped their target price on Avis Budget Group from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Northcoast Research downgraded Avis Budget Group from a "buy" rating to a "neutral" rating in a report on Monday, November 18th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $133.75.

Avis Budget Group Trading Up 0.9 %

CAR traded up $0.69 during trading on Friday, reaching $74.49. The stock had a trading volume of 714,425 shares, compared to its average volume of 697,332. Avis Budget Group has a one year low of $65.73 and a one year high of $132.25. The stock's 50 day moving average is $86.21 and its two-hundred day moving average is $87.58. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of -1.44 and a beta of 2.37.

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Avis Budget Group (NASDAQ:CAR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The business services provider reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.27. Avis Budget Group had a negative return on equity of 14.74% and a negative net margin of 15.45%. On average, equities research analysts predict that Avis Budget Group will post 8.91 earnings per share for the current year.

Insider Activity

In other news, Director Lynn Krominga sold 1,405 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 1,950 shares of the company's stock, valued at approximately $185,250. This represents a 41.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 52.00% of the company's stock.

Institutional Investors Weigh In On Avis Budget Group

Several institutional investors have recently modified their holdings of CAR. Nisa Investment Advisors LLC boosted its position in shares of 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 valued at $36,000 after buying an additional 305 shares during the last quarter. Sigma Planning Corp bought a new stake in Avis Budget Group in the 3rd quarter worth approximately $353,000. Wolverine Asset Management LLC boosted its holdings in shares of Avis Budget Group by 93.4% in the 3rd quarter. Wolverine Asset Management LLC now owns 16,771 shares of the business services provider's stock worth $1,469,000 after purchasing an additional 8,100 shares during the period. Versor Investments LP purchased a new position in shares of Avis Budget Group in the 3rd quarter worth approximately $431,000. Finally, Victory Capital Management Inc. boosted its holdings in Avis Budget Group by 23.2% during the 3rd quarter. Victory Capital Management Inc. now owns 12,078 shares of the business services provider's stock valued at $1,058,000 after acquiring an additional 2,276 shares during the period. 96.35% of the stock is owned by hedge funds and other institutional investors.

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.