Avis Budget Group, Inc. (NASDAQ:CAR - Get Free Report) was the target of some unusual options trading on Tuesday. Stock investors acquired 8,304 put options on the stock. This represents an increase of 158% compared to the average volume of 3,219 put options.
Wall Street Analyst Weigh In
A number of brokerages recently commented on CAR. Northcoast Research lowered Avis Budget Group from a "buy" rating to a "neutral" rating in a report on Monday, November 18th. The Goldman Sachs Group boosted their price target on shares of Avis Budget Group from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $133.75.
Check Out Our Latest Analysis on Avis Budget Group
Insider Buying and Selling at Avis Budget Group
In other Avis Budget Group news, Director Lynn Krominga sold 1,405 shares of Avis Budget Group stock in a transaction that occurred on 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 owns 1,950 shares of the company's stock, valued at $185,250. This trade represents a 41.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 52.00% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. Steadfast Capital Management LP bought a new stake in shares of Avis Budget Group during the 4th quarter valued at about $25,747,000. ING Groep NV raised its holdings in Avis Budget Group by 310.4% in the fourth quarter. ING Groep NV now owns 325,000 shares of the business services provider's stock worth $26,198,000 after purchasing an additional 245,800 shares in the last quarter. National Bank of Canada FI lifted its position in Avis Budget Group by 266.7% during the fourth quarter. National Bank of Canada FI now owns 330,000 shares of the business services provider's stock valued at $26,601,000 after buying an additional 240,000 shares during the period. Nomura Holdings Inc. boosted 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 valued at $39,537,000 after buying an additional 236,576 shares in the last quarter. Finally, Jefferies Financial Group Inc. increased its stake in shares of Avis Budget Group by 1,391.0% in the 4th quarter. Jefferies Financial Group Inc. now owns 253,200 shares of the business services provider's stock worth $20,410,000 after acquiring an additional 236,218 shares in the last quarter. 96.35% of the stock is owned by hedge funds and other institutional investors.
Avis Budget Group Price Performance
Avis Budget Group stock traded down $8.03 during trading hours on Tuesday, reaching $63.56. The company had a trading volume of 921,244 shares, compared to its average volume of 708,340. Avis Budget Group has a 12-month low of $63.66 and a 12-month high of $132.25. The company has a 50-day moving average price of $86.07 and a 200 day moving average price of $87.47. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of -1.23 and a beta of 2.37.
Avis Budget Group (NASDAQ:CAR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The business services provider reported ($0.23) 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%. As a group, research analysts expect that Avis Budget Group will post 8.91 earnings per share for the current year.
Avis Budget Group Company Profile
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Avis Budget Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Avis Budget Group wasn't on the list.
While Avis Budget Group currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
