Avis Budget Group Sees Unusually Large Options Volume (NASDAQ:CAR)

Avis Budget Group, Inc. (NASDAQ:CAR - Get Free Report) was the recipient of some unusual options trading activity on Thursday. Traders bought 12,847 call options on the company. This is an increase of 240% compared to the average volume of 3,780 call options.

Avis Budget Group Price Performance

Shares of CAR stock traded up $0.61 during midday trading on Monday, hitting $75.27. The company had a trading volume of 719,065 shares, compared to its average volume of 1,022,393. Avis Budget Group has a 52-week low of $54.03 and a 52-week high of $132.25. The company's 50 day simple moving average is $79.69 and its 200 day simple moving average is $85.94. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of -1.45 and a beta of 2.37.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last announced its quarterly earnings data 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%. Analysts anticipate that Avis Budget Group will post 8.91 EPS for the current year.

Insider Buying and Selling

In related news, Director Lynn Krominga sold 1,405 shares of the company's stock in a transaction dated 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 $185,250. This represents a 41.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 52.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Avis Budget Group

A number of hedge funds have recently added to or reduced their stakes in CAR. Neo Ivy Capital Management acquired a new position in Avis Budget Group during the 4th quarter worth approximately $5,005,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Avis Budget Group by 8.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 55,777 shares of the business services provider's stock worth $4,496,000 after acquiring an additional 4,286 shares in the last quarter. Twinbeech Capital LP acquired a new stake in Avis Budget Group in the fourth quarter valued at $387,000. Two Sigma Advisers LP boosted its position in shares of Avis Budget Group by 162.9% during the 4th quarter. Two Sigma Advisers LP now owns 18,400 shares of the business services provider's stock worth $1,483,000 after purchasing an additional 11,400 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in shares of Avis Budget Group by 53.1% during the 4th quarter. Two Sigma Investments LP now owns 104,909 shares of the business services provider's stock worth $8,457,000 after purchasing an additional 36,393 shares during the period. Institutional investors and hedge funds own 96.35% of the company's stock.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group increased their price objective on Avis Budget Group from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $130.71.

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.