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 Wednesday. Stock investors purchased 5,465 call options on the stock. This represents an increase of 1,778% compared to the typical volume of 291 call options.

Several equities analysts recently issued reports on the company. ValuEngine lowered WideOpenWest from a “hold” rating to a “sell” rating in a research report on Friday, June 28th. BidaskClub lowered Waterstone Financial from a “hold” rating to a “sell” rating in a research report on Friday, June 21st. Finally, Zacks Investment Research lowered German American Bancorp. from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $41.60.

In related news, insider Mark J. Servodidio sold 38,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $37.07, for a total value of $1,408,660.00. Following the completion of the transaction, the insider now directly owns 60,711 shares in the company, valued at approximately $2,250,556.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. bought a new stake in Avis Budget Group in the 1st quarter valued at approximately $83,000. World Asset Management Inc bought a new stake in Avis Budget Group in the 1st quarter valued at approximately $260,000. SOL Capital Management CO bought a new stake in Avis Budget Group in the 1st quarter valued at approximately $263,000. Amalgamated Bank bought a new stake in shares of Avis Budget Group during the 4th quarter worth approximately $235,000. Finally, NumerixS Investment Technologies Inc raised its stake in shares of Avis Budget Group by 135.6% during the 1st quarter. NumerixS Investment Technologies Inc now owns 11,800 shares of the business services provider’s stock worth $404,000 after purchasing an additional 6,791 shares in the last quarter.

NASDAQ CAR opened at $35.51 on Friday. The company has a market cap of $2.65 billion, a PE ratio of 9.73 and a beta of 2.08. The company has a 50 day moving average price of $32.50. The company has a debt-to-equity ratio of 51.70, a current ratio of 0.95 and a quick ratio of 0.95. Avis Budget Group has a 52 week low of $21.63 and a 52 week high of $39.15.

Avis Budget Group (NASDAQ:CAR) last released its earnings results on Wednesday, May 1st. The business services provider reported ($0.78) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.02) by $0.24. The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Avis Budget Group had a return on equity of 71.86% and a net margin of 1.77%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.74) EPS. Sell-side analysts forecast that Avis Budget Group will post 3.99 earnings per share for the current fiscal year.

Avis Budget Group Company Profile

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary services to businesses and consumers worldwide. It operates the Avis brand, a vehicle rental system with approximately 5,500 locations that supply rental cars to the premium commercial and leisure segments of the travel industry; the Budget brand, a vehicle rental and other mobility solutions primarily focuses on the value-conscious segments of the industry; the Zipcar brand, a membership-based car sharing network; and the Budget Truck brand, a local and one-way truck rental businesses with a fleet of approximately 18,000 vehicles, which are rented through a network of approximately 640 dealer-operated and 430 company-operated locations that serve the consumer and light commercial sectors in the continental United States.

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