Avis Budget Group, Inc. (NASDAQ:CAR) Director Sells $133,475.00 in Stock

Avis Budget Group, Inc. (NASDAQ:CAR) Director Lynn Krominga sold 1,405 shares of Avis Budget Group stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $95.00, for a total transaction of $133,475.00. Following the completion of the sale, the director now owns 1,950 shares of the company’s stock, valued at $185,250. This represents a 41.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

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

Avis Budget Group Stock Performance

NASDAQ:CAR opened at $94.14 on Friday. Avis Budget Group, Inc. has a 52 week low of $65.73 and a 52 week high of $132.25. The company has a fifty day simple moving average of $87.26 and a two-hundred day simple moving average of $88.13.

Avis Budget Group (NASDAQ:CAR) last issued its earnings results on Tuesday, February 11th. The business services provider reported ($0.23) earnings per share (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%. Equities analysts expect that Avis Budget Group, Inc. will post 8.91 EPS for the current year.

Institutional Investors Weigh In On Avis Budget Group

Hedge funds have recently modified their holdings of the stock. Aster Capital Management DIFC Ltd purchased a new stake in shares of Avis Budget Group during the fourth quarter valued at approximately $25,000. GAMMA Investing LLC boosted its holdings 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 acquiring an additional 183 shares during the period. Strategic Investment Solutions Inc. IL boosted its holdings in shares of Avis Budget Group by 198.3% during the third quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 240 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Avis Budget Group by 293.3% during the third quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 305 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Avis Budget Group by 41.0% during the fourth quarter. Quadrant Capital Group LLC now owns 681 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 198 shares in the last quarter. 96.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Avis Budget Group from $145.00 to $143.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. The Goldman Sachs Group increased their target price on Avis Budget Group from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Northcoast Research downgraded Avis Budget Group from a “buy” rating to a “neutral” rating in a research note on Monday, November 18th. JPMorgan Chase & Co. lowered 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. Finally, StockNews.com raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Avis Budget Group currently has a consensus rating of “Hold” and a consensus target price of $133.75.

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.