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

Avis Budget Group, Inc. (NASDAQ:CAR) saw some unusual options trading activity on Thursday. Investors purchased 12,847 call options on the stock. This is an increase of approximately 240% compared to the average volume of 3,780 call options.

Analyst Ratings Changes

Separately, The Goldman Sachs Group boosted their target price on shares of Avis Budget Group from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $130.71.

Insider Buying and Selling at Avis Budget Group

In related news, Director Lynn Krominga sold 1,405 shares of Avis Budget Group stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $95.00, for a total transaction of $133,475.00. Following the completion of the transaction, the director now directly owns 1,950 shares in the company, valued at $185,250. The trade was a 41.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 52.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CAR. Neo Ivy Capital Management acquired a new stake in Avis Budget Group during the fourth quarter worth about $5,005,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Avis Budget Group by 8.3% during the 4th 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 purchasing an additional 4,286 shares in the last quarter. Twinbeech Capital LP purchased a new position in Avis Budget Group in the fourth quarter valued at approximately $387,000. Two Sigma Advisers LP lifted its position in Avis Budget Group by 162.9% during the fourth quarter. Two Sigma Advisers LP now owns 18,400 shares of the business services provider’s stock valued at $1,483,000 after buying an additional 11,400 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in Avis Budget Group by 53.1% during the fourth quarter. Two Sigma Investments LP now owns 104,909 shares of the business services provider’s stock worth $8,457,000 after buying an additional 36,393 shares during the period. 96.35% of the stock is owned by hedge funds and other institutional investors.

Avis Budget Group Price Performance

NASDAQ:CAR traded up $11.90 during mid-day trading on Thursday, reaching $73.45. The company’s stock had a trading volume of 2,830,390 shares, compared to its average volume of 711,963. The stock has a market cap of $2.58 billion, a P/E ratio of -1.41 and a beta of 2.37. The company’s fifty day simple moving average is $80.29 and its two-hundred day simple moving average is $85.74. Avis Budget Group has a twelve month low of $54.03 and a twelve month high of $132.25.

Avis Budget Group (NASDAQ:CAR) last released its earnings results on Tuesday, February 11th. The business services provider reported ($0.23) earnings per share (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 14.74%. Sell-side analysts expect that Avis Budget Group will post 8.91 EPS for the current fiscal year.

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.