Lynn Krominga Sells 661 Shares of Avis Budget Group, Inc. (NASDAQ:CAR) Stock

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

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 value of $133,475.00.

Avis Budget Group Trading Down 7.2 %

CAR stock opened at $87.10 on Friday. Avis Budget Group, Inc. has a 1-year low of $65.73 and a 1-year high of $132.25. The business’s 50 day moving average is $87.16 and its 200-day moving average is $88.15. The firm has a market cap of $3.06 billion, a P/E ratio of -1.68 and a beta of 2.26.

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Avis Budget Group

A number of hedge funds have recently made changes to their positions in CAR. FMR LLC boosted its position in Avis Budget Group by 4.0% in the third quarter. FMR LLC now owns 3,354,546 shares of the business services provider’s stock valued at $293,825,000 after buying an additional 129,805 shares in the last quarter. State Street Corp boosted its holdings in shares of Avis Budget Group by 2.5% in the 3rd quarter. State Street Corp now owns 672,227 shares of the business services provider’s stock worth $58,880,000 after acquiring an additional 16,221 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Avis Budget Group by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 592,341 shares of the business services provider’s stock valued at $51,883,000 after purchasing an additional 2,561 shares in the last quarter. Nomura Holdings Inc. increased its holdings in Avis Budget Group by 93.2% during the 4th quarter. Nomura Holdings Inc. now owns 490,473 shares of the business services provider’s stock valued at $39,537,000 after purchasing an additional 236,576 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in Avis Budget Group by 19,203.5% in the 3rd quarter. International Assets Investment Management LLC now owns 481,044 shares of the business services provider’s stock valued at $421,350,000 after purchasing an additional 478,552 shares during the last quarter. Institutional investors and hedge funds 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.