Avis Budget Group, Inc. (NASDAQ:CAR) Director Lynn Krominga Sells 1,405 Shares

Avis Budget Group, Inc. (NASDAQ:CAR) 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 transaction, the director now 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Lynn Krominga also recently made the following trade(s):

• On Tuesday, February 18th, Lynn Krominga sold 661 shares of Avis Budget Group stock. The stock was sold at an average price of $95.00, for a total value of $62,795.00.

Avis Budget Group Stock Down 7.2 %

Avis Budget Group stock opened at $87.10 on Friday. The business’s 50-day simple moving average is $87.16 and its 200 day simple moving average is $88.17. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of -1.68 and a beta of 2.26. Avis Budget Group, Inc. has a 12-month low of $65.73 and a 12-month high of $132.25.

Avis Budget Group (NASDAQ:CAR) 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 return on equity of 14.74% and a negative net margin of 15.45%. As a group, sell-side analysts expect that Avis Budget Group, Inc. will post 8.91 EPS for the current year.

Hedge Funds Weigh In On Avis Budget Group

Hedge funds have recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new position in Avis Budget Group in the fourth quarter valued at about $25,000. GAMMA Investing LLC boosted its holdings in Avis Budget Group by 118.8% in the fourth 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 during the last quarter. Strategic Investment Solutions Inc. IL lifted its stake in 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 valued at $32,000 after buying an additional 240 shares during the period. Nisa Investment Advisors LLC lifted its stake 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 buying an additional 305 shares during the period. Finally, Quadrant Capital Group LLC lifted its stake in Avis Budget Group by 41.0% in the fourth quarter. Quadrant Capital Group LLC now owns 681 shares of the business services provider’s stock valued at $55,000 after buying an additional 198 shares during the period. Institutional investors own 96.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft dropped their price objective on Avis Budget Group from $145.00 to $143.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. The Goldman Sachs Group increased their price objective on Avis Budget Group from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Northcoast Research cut Avis Budget Group from a “buy” rating to a “neutral” rating in a report on Monday, November 18th. JPMorgan Chase & Co. decreased their target price on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Finally, StockNews.com upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $133.75.

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.