Mountain Lake Investment Management LLC Sells 7,453 Shares of Avis Budget Group, Inc. (NASDAQ:CAR)

Mountain Lake Investment Management LLC lessened its position in Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 9.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 67,547 shares of the business services provider's stock after selling 7,453 shares during the period. Avis Budget Group makes up 6.3% of Mountain Lake Investment Management LLC's investment portfolio, making the stock its 7th largest holding. Mountain Lake Investment Management LLC owned 0.19% of Avis Budget Group worth $5,426,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in CAR. GAMMA Investing LLC increased its holdings in 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 acquiring an additional 183 shares in the last quarter. Strategic Investment Solutions Inc. IL boosted its position in shares of Avis Budget Group by 198.3% in the third quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider's stock worth $32,000 after acquiring an additional 240 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Avis Budget Group by 293.3% in the third quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider's stock valued at $36,000 after purchasing an additional 305 shares during the period. Carolina Wealth Advisors LLC grew its holdings in Avis Budget Group by 184.5% in the third quarter. Carolina Wealth Advisors LLC now owns 1,118 shares of the business services provider's stock valued at $98,000 after purchasing an additional 725 shares during the period. Finally, Royce & Associates LP purchased a new stake in Avis Budget Group during the third quarter worth approximately $217,000. Institutional investors and hedge funds own 96.35% of the company's stock.

Avis Budget Group Stock Performance

Shares of NASDAQ:CAR traded down $0.05 during trading hours on Thursday, hitting $94.14. 777,549 shares of the company's stock traded hands, compared to its average volume of 645,583. Avis Budget Group, Inc. has a 52 week low of $65.73 and a 52 week high of $132.25. The company's fifty day simple moving average is $87.26 and its two-hundred day simple moving average is $88.13. The company has a market cap of $3.31 billion, a price-to-earnings ratio of -1.82 and a beta of 2.26.

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 32.07%. On average, analysts anticipate that Avis Budget Group, Inc. will post 8.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CAR has been the subject of several research reports. StockNews.com upgraded shares of Avis Budget Group from a "sell" rating to a "hold" rating in a research note on Monday, November 4th. Northcoast Research cut shares of Avis Budget Group from a "buy" rating to a "neutral" rating in a report on Monday, November 18th. The Goldman Sachs Group increased their target price 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. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Avis Budget Group from $145.00 to $143.00 and set a "buy" rating for the company in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Avis Budget Group from $175.00 to $150.00 and set an "overweight" rating for the company in a research report on Monday, November 4th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $133.75.

Insider Buying and Selling at Avis Budget Group

In other news, Director Lynn Krominga sold 1,405 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 52.00% of the company's stock.

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.