Avis Budget Group Target of Unusually Large Options Trading (NASDAQ:CAR)

Avis Budget Group, Inc. (NASDAQ:CAR) was the recipient of unusually large options trading on Tuesday. Stock investors bought 8,304 put options on the company. This is an increase of 158% compared to the average volume of 3,219 put options.

Avis Budget Group Price Performance

Shares of NASDAQ CAR traded down $8.03 during mid-day trading on Tuesday, hitting $63.56. 921,244 shares of the company’s stock traded hands, compared to its average volume of 708,340. The company has a market capitalization of $2.23 billion, a P/E ratio of -1.23 and a beta of 2.37. Avis Budget Group has a 1 year low of $63.66 and a 1 year high of $132.25. The company’s 50-day moving average is $86.07 and its two-hundred day moving average is $87.47.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings results on Tuesday, February 11th. The business services provider reported ($0.23) earnings per share 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%. Equities analysts anticipate that Avis Budget Group will post 8.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CAR shares. The Goldman Sachs Group boosted their price objective 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. Northcoast Research cut Avis Budget Group from a “buy” rating to a “neutral” rating in a research note on Monday, November 18th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Avis Budget Group has a consensus rating of “Hold” and a consensus price target of $133.75.

Insider Transactions at Avis Budget Group

In other Avis Budget Group news, Director Lynn Krominga sold 1,405 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $95.00, for a total transaction of $133,475.00. Following the completion of the sale, the director now directly owns 1,950 shares in the company, valued at approximately $185,250. This trade represents a 41.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 52.00% of the company’s stock.

Institutional Trading of Avis Budget Group

Several institutional investors have recently added to or reduced their stakes in CAR. Aster Capital Management DIFC Ltd bought a new stake in shares of Avis Budget Group during the 4th quarter worth approximately $25,000. GAMMA Investing LLC grew 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 worth $27,000 after buying an additional 183 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in shares of 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 acquiring an additional 198 shares in the last quarter. Sterling Capital Management LLC raised its holdings in shares of Avis Budget Group by 41.3% in the fourth 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 in the last quarter. Finally, Signaturefd LLC grew its holdings in Avis Budget Group by 31.8% during the 4th quarter. Signaturefd LLC now owns 936 shares of the business services provider’s stock worth $75,000 after acquiring an additional 226 shares in 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.