Avis Budget Group (NASDAQ:CAR) Shares Down 5.1% - Time to Sell?

Avis Budget Group, Inc. (NASDAQ:CAR - Get Free Report) fell 5.1% during trading on Thursday . The stock traded as low as $58.27 and last traded at $57.80. 199,728 shares were traded during trading, a decline of 71% from the average session volume of 683,995 shares. The stock had previously closed at $60.90.

Analyst Ratings Changes

Separately, The Goldman Sachs Group boosted their price target on Avis Budget Group from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Avis Budget Group currently has an average rating of "Hold" and an average price target of $133.75.

Avis Budget Group Stock Down 0.2 %

The stock has a 50 day simple moving average of $81.82 and a 200 day simple moving average of $86.05. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of -1.17 and a beta of 2.37.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last posted 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 14.74%. Equities analysts expect that Avis Budget Group, Inc. will post 8.91 earnings per share for the current year.

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Insider Activity

In related news, Director Lynn Krominga sold 1,405 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $95.00, for a total value of $133,475.00. Following the completion of the sale, the director now directly owns 1,950 shares of the company's stock, valued at approximately $185,250. This represents a 41.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 52.00% of the company's stock.

Institutional Trading of Avis Budget Group

Several hedge funds have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd bought a new position in Avis Budget Group during the fourth quarter valued at $25,000. GAMMA Investing LLC lifted its position in shares of Avis Budget Group by 118.8% during the 4th quarter. GAMMA Investing LLC now owns 337 shares of the business services provider's stock valued at $27,000 after buying an additional 183 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in Avis Budget Group by 41.0% in the 4th quarter. Quadrant Capital Group LLC now owns 681 shares of the business services provider's stock worth $55,000 after acquiring an additional 198 shares during the last quarter. Sterling Capital Management LLC raised its stake in Avis Budget Group by 41.3% in the 4th quarter. Sterling Capital Management LLC now owns 736 shares of the business services provider's stock valued at $59,000 after acquiring an additional 215 shares during the period. Finally, Signaturefd LLC lifted its holdings in Avis Budget Group by 31.8% during the fourth quarter. Signaturefd LLC now owns 936 shares of the business services provider's stock valued at $75,000 after purchasing an additional 226 shares during the last quarter. Institutional investors own 96.35% of the company's stock.

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.