Avis Budget Group (NASDAQ:CAR) Stock Price Down 5.1% – What’s Next?

Shares of Avis Budget Group, Inc. (NASDAQ:CAR) fell 5.1% during mid-day trading on Thursday . The company traded as low as $58.27 and last traded at $57.80. 199,728 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 683,995 shares. The stock had previously closed at $60.90.

Analyst Ratings Changes

Separately, The Goldman Sachs Group lifted their target price on shares of Avis Budget Group from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Avis Budget Group presently has an average rating of “Hold” and a consensus price target of $133.75.

Avis Budget Group Stock Performance

The stock has a market capitalization of $2.13 billion, a PE ratio of -1.17 and a beta of 2.37. The business’s 50-day moving average price is $81.82 and its 200 day moving average price is $85.90.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings data on Tuesday, February 11th. The business services provider reported ($0.23) earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts predict that Avis Budget Group, Inc. will post 8.91 earnings per share for the current year.

Insider Activity at Avis Budget Group

In related news, Director Lynn Krominga sold 1,405 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $95.00, for a total transaction of $133,475.00. Following the transaction, the director now owns 1,950 shares of the company’s stock, 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 is accessible through this link. 52.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CAR. Amalgamated Bank grew its position in Avis Budget Group by 2.0% during the 4th quarter. Amalgamated Bank now owns 7,973 shares of the business services provider’s stock worth $643,000 after acquiring an additional 155 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Avis Budget Group by 118.8% during the fourth quarter. GAMMA Investing LLC now owns 337 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 183 shares during the period. Yousif Capital Management LLC grew its holdings in shares of Avis Budget Group by 2.5% in the fourth quarter. Yousif Capital Management LLC now owns 7,592 shares of the business services provider’s stock worth $612,000 after purchasing an additional 187 shares during the last quarter. Quadrant Capital Group LLC increased its stake 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 worth $55,000 after buying an additional 198 shares during the period. Finally, Sterling Capital Management LLC raised its holdings in Avis Budget Group by 41.3% during the 4th quarter. Sterling Capital Management LLC now owns 736 shares of the business services provider’s stock valued at $59,000 after buying an additional 215 shares during the last quarter. 96.35% of the stock is owned by institutional investors.

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.