Avis Budget Group, Inc. (NASDAQ:CAR) Short Interest Update

Avis Budget Group, Inc. (NASDAQ:CAR) saw a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 2,810,000 shares, an increase of 19.6% from the January 31st total of 2,350,000 shares. Based on an average daily trading volume, of 633,800 shares, the days-to-cover ratio is currently 4.4 days. Approximately 8.3% of the shares of the company are short sold.

Insider Activity at Avis Budget Group

In related news, Director Lynn Krominga sold 1,405 shares of Avis Budget Group stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $95.00, for a total value of $133,475.00. Following the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 52.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CAR. Steadfast Capital Management LP bought a new position in Avis Budget Group in the 4th quarter worth about $25,747,000. ING Groep NV increased its position in Avis Budget Group by 310.4% in the 4th quarter. ING Groep NV now owns 325,000 shares of the business services provider’s stock valued at $26,198,000 after acquiring an additional 245,800 shares during the period. National Bank of Canada FI raised its stake in Avis Budget Group by 266.7% during the 4th quarter. National Bank of Canada FI now owns 330,000 shares of the business services provider’s stock valued at $26,601,000 after acquiring an additional 240,000 shares in the last quarter. Nomura Holdings Inc. boosted its position 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 worth $39,537,000 after acquiring an additional 236,576 shares during the period. Finally, Jefferies Financial Group Inc. grew its stake in shares of Avis Budget Group by 1,391.0% in the fourth quarter. Jefferies Financial Group Inc. now owns 253,200 shares of the business services provider’s stock worth $20,410,000 after purchasing an additional 236,218 shares in the last quarter. 96.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CAR has been the subject of several research analyst reports. Northcoast Research cut shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a report on Monday, November 18th. The Goldman Sachs Group boosted 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 analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $133.75.

Avis Budget Group Stock Performance

Shares of CAR stock traded down $2.77 during trading hours on Thursday, hitting $73.84. 218,351 shares of the company were exchanged, compared to its average volume of 691,050. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of -1.42 and a beta of 2.26. Avis Budget Group has a one year low of $65.73 and a one year high of $132.25. The business’s 50-day simple moving average is $86.51 and its two-hundred day simple moving average is $87.79.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly 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 return on equity of 14.74% and a negative net margin of 15.45%. As a group, analysts anticipate that Avis Budget Group will post 8.91 EPS for the current fiscal 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.