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

Avis Budget Group, Inc. (NASDAQ:CAR) was the target of some unusual options trading on Tuesday. Stock investors acquired 8,304 put options on the stock. This represents an increase of 158% compared to the average volume of 3,219 put options.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CAR. Northcoast Research lowered Avis Budget Group from a “buy” rating to a “neutral” rating in a report on Monday, November 18th. The Goldman Sachs Group boosted their price target on shares of Avis Budget Group from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $133.75.

Insider Buying and Selling at Avis Budget Group

In other Avis Budget Group news, Director Lynn Krominga sold 1,405 shares of Avis Budget Group stock in a transaction that occurred 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 $185,250. This trade represents a 41.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 52.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Steadfast Capital Management LP bought a new stake in shares of Avis Budget Group during the 4th quarter valued at about $25,747,000. ING Groep NV raised its holdings in Avis Budget Group by 310.4% in the fourth quarter. ING Groep NV now owns 325,000 shares of the business services provider’s stock worth $26,198,000 after purchasing an additional 245,800 shares in the last quarter. National Bank of Canada FI lifted its position in Avis Budget Group by 266.7% during the fourth quarter. National Bank of Canada FI now owns 330,000 shares of the business services provider’s stock valued at $26,601,000 after buying an additional 240,000 shares during the period. Nomura Holdings Inc. boosted its holdings in shares of 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 buying an additional 236,576 shares in the last quarter. Finally, Jefferies Financial Group Inc. increased its stake in shares of Avis Budget Group by 1,391.0% in the 4th quarter. Jefferies Financial Group Inc. now owns 253,200 shares of the business services provider’s stock worth $20,410,000 after acquiring an additional 236,218 shares in the last quarter. 96.35% of the stock is owned by hedge funds and other institutional investors.

Avis Budget Group Price Performance

Avis Budget Group stock traded down $8.03 during trading hours on Tuesday, reaching $63.56. The company had a trading volume of 921,244 shares, compared to its average volume of 708,340. Avis Budget Group has a 12-month low of $63.66 and a 12-month high of $132.25. The company has a 50-day moving average price of $86.07 and a 200 day moving average price of $87.47. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of -1.23 and a beta of 2.37.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings data on Tuesday, February 11th. The business services provider reported ($0.23) EPS for the quarter, beating the consensus estimate 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, research analysts expect that Avis Budget Group will post 8.91 earnings per share for the current year.

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.