Avis Budget Group (NASDAQ:CAR) Director Sells $178,503.00 in Stock

Avis Budget Group, Inc. (NASDAQ:CAR) Director Lynn Krominga sold 1,950 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $91.54, for a total value of $178,503.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Avis Budget Group Stock Performance

Shares of CAR traded up $6.30 during mid-day trading on Tuesday, reaching $93.99. 1,417,112 shares of the company’s stock traded hands, compared to its average volume of 712,834. Avis Budget Group, Inc. has a 12 month low of $54.03 and a 12 month high of $212.81. The stock has a market capitalization of $3.31 billion, a P/E ratio of -3.70 and a beta of 2.33. The business’s 50-day moving average price is $122.29 and its 200-day moving average price is $138.75.

Institutional Investors Weigh In On Avis Budget Group

Large investors have recently modified their holdings of the stock. Hsbc Holdings PLC lifted its position in Avis Budget Group by 48,706.7% during the 2nd quarter. Hsbc Holdings PLC now owns 1,552,542 shares of the business services provider’s stock worth $256,629,000 after buying an additional 1,549,361 shares in the last quarter. ING Groep NV grew its holdings in Avis Budget Group by 440.2% during the third quarter. ING Groep NV now owns 1,035,000 shares of the business services provider’s stock valued at $166,195,000 after purchasing an additional 843,400 shares during the period. UBS Group AG grew its holdings in shares of Avis Budget Group by 37.3% in the 4th quarter. UBS Group AG now owns 2,964,807 shares of the business services provider’s stock valued at $380,444,000 after buying an additional 804,814 shares during the period. CIBC Bancorp USA Inc. bought a new position in Avis Budget Group during the third quarter worth about $97,951,000. Finally, National Bank of Canada FI grew its stake in Avis Budget Group by 166.7% in the second quarter. National Bank of Canada FI now owns 880,239 shares of the business services provider’s stock valued at $148,804,000 after acquiring an additional 550,239 shares during the period. 96.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CAR shares. Zacks Research lowered Avis Budget Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 19th. Wall Street Zen cut shares of Avis Budget Group from a “hold” rating to a “sell” rating in a report on Saturday. The Goldman Sachs Group set a $85.00 price target on Avis Budget Group in a report on Monday. Barclays reduced their price objective on shares of Avis Budget Group from $150.00 to $120.00 and set an “equal weight” rating for the company in a research note on Monday, November 3rd. Finally, Susquehanna cut their target price on Avis Budget Group from $145.00 to $130.00 and set a “neutral” rating on the stock in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $134.71.

About Avis Budget Group

Avis Budget Group, Inc operates as a leading global provider of vehicle rental and mobility solutions. Through its two core brands, Avis® and Budget®, the company offers a broad range of rental options including daily, weekly and monthly car rentals for leisure and business travelers. In addition to traditional airport and off-airport car rental services, Avis Budget Group delivers innovative mobility platforms such as car-sharing programs and connected fleet solutions designed to meet the evolving needs of corporate, government and individual customers.

The company’s roots trace back to Avis Rent a Car, founded in 1946, and Budget Rent a Car, established in 1958.