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

Avis Budget Group, Inc. (NASDAQ:CAR) Director Lynn Krominga sold 1,405 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 1,950 shares in the company, valued at approximately $185,250. The trade was 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 hyperlink.

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

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

Avis Budget Group Stock Down 7.2 %

Shares of Avis Budget Group stock opened at $87.10 on Friday. The firm has a market cap of $3.06 billion, a PE ratio of -1.68 and a beta of 2.26. Avis Budget Group, Inc. has a twelve month low of $65.73 and a twelve month high of $132.25. The business has a 50-day moving average price of $87.16 and a 200 day moving average price of $88.15.

Avis Budget Group (NASDAQ:CAR) 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 return on equity of 14.74% and a negative net margin of 15.45%. On average, 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

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CAR shares. StockNews.com raised Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. JPMorgan Chase & Co. dropped 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 report 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. Northcoast Research downgraded shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a research report on Monday, November 18th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Avis Budget Group from $145.00 to $143.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.