Insider Selling: Avis Budget Group, Inc. (NASDAQ:CAR) Director Sells 661 Shares of Stock

Avis Budget Group, Inc. (NASDAQ:CAR) Director Lynn Krominga sold 661 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $95.00, for a total transaction of $62,795.00. Following the completion of the sale, the director now owns 3,355 shares of the company’s stock, valued at approximately $318,725. This represents a 16.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, February 20th, Lynn Krominga sold 1,405 shares of Avis Budget Group stock. The shares were sold at an average price of $95.00, for a total transaction of $133,475.00.

Avis Budget Group Stock Performance

Shares of CAR traded down $0.05 during mid-day trading on Thursday, reaching $94.14. The company had a trading volume of 777,549 shares, compared to its average volume of 645,583. The company’s 50 day simple moving average is $87.26 and its 200 day simple moving average is $88.13. Avis Budget Group, Inc. has a 1-year low of $65.73 and a 1-year high of $132.25. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of -1.82 and a beta of 2.26.

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 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%. As a group, equities analysts forecast that Avis Budget Group, Inc. will post 8.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Avis Budget Group

Several hedge funds have recently added to or reduced their stakes in CAR. Dupree Financial Group LLC acquired a new stake in Avis Budget Group during the 3rd quarter worth approximately $2,611,000. Lecap Asset Management Ltd. boosted its position in Avis Budget Group by 40.8% during the 3rd quarter. Lecap Asset Management Ltd. now owns 18,862 shares of the business services provider’s stock worth $1,652,000 after buying an additional 5,466 shares during the period. International Assets Investment Management LLC boosted its position in Avis Budget Group by 19,203.5% during the 3rd quarter. International Assets Investment Management LLC now owns 481,044 shares of the business services provider’s stock worth $421,350,000 after buying an additional 478,552 shares during the period. Strategic Investment Solutions Inc. IL boosted its position in Avis Budget Group by 198.3% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider’s stock worth $32,000 after buying an additional 240 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in Avis Budget Group by 293.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider’s stock worth $36,000 after buying an additional 305 shares during the period. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CAR has been the topic of several research analyst reports. StockNews.com raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Northcoast Research downgraded shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a research note on Monday, November 18th. JPMorgan Chase & Co. reduced their price objective on shares of Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. The Goldman Sachs Group increased their price objective on shares of Avis Budget Group from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Avis Budget Group from $145.00 to $143.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Avis Budget Group currently has a consensus rating of “Hold” and an average target price of $133.75.

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.