Avis Budget Group Inc. (CAR) Short Interest Update
Avis Budget Group Inc. (NASDAQ:CAR) saw a large decline in short interest during the month of December. As of December 29th, there was short interest totalling 20,508,855 shares, a decline of 12.0% from the December 15th total of 23,295,921 shares. Approximately 25.7% of the company’s stock are sold short. Based on an average trading volume of 2,081,057 shares, the short-interest ratio is currently 9.9 days.
Shares of Avis Budget Group (CAR) opened at $49.15 on Friday. Avis Budget Group has a 1 year low of $20.71 and a 1 year high of $49.41. The company has a debt-to-equity ratio of 35.24, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a market cap of $4,000.00, a price-to-earnings ratio of 36.41 and a beta of 2.53.
Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings data on Monday, November 6th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.99 by $0.11. Avis Budget Group had a net margin of 1.26% and a return on equity of 95.28%. The firm had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the previous year, the firm posted $2.47 EPS. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. sell-side analysts forecast that Avis Budget Group will post 2.65 earnings per share for the current year.
In other Avis Budget Group news, SVP David T. Calabria sold 1,250 shares of Avis Budget Group stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $41.71, for a total value of $52,137.50. Following the completion of the sale, the senior vice president now owns 4,412 shares of the company’s stock, valued at approximately $184,024.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Shon Larry D. De sold 25,000 shares of Avis Budget Group stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $42.00, for a total transaction of $1,050,000.00. Following the completion of the sale, the chief executive officer now directly owns 222,365 shares of the company’s stock, valued at approximately $9,339,330. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 489,581 shares of company stock valued at $19,782,022. 2.80% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. CNA Financial Corp bought a new stake in shares of Avis Budget Group during the 3rd quarter valued at $945,000. 1060 Capital LLC purchased a new position in shares of Avis Budget Group during the 3rd quarter valued at $25,874,000. Eqis Capital Management Inc. purchased a new position in shares of Avis Budget Group during the 3rd quarter valued at $380,000. Pacer Advisors Inc. lifted its stake in shares of Avis Budget Group by 85.8% during the 3rd quarter. Pacer Advisors Inc. now owns 17,209 shares of the business services provider’s stock valued at $655,000 after buying an additional 7,948 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its stake in shares of Avis Budget Group by 25.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 31,925 shares of the business services provider’s stock valued at $871,000 after buying an additional 6,576 shares in the last quarter.
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Avis Budget Group Company Profile
Avis Budget Group Inc is a provider of vehicle rental and car sharing services. The Company operates three brands, which include Avis, Budget and Zipcar. Avis and Budget are a rental car supplier. It also owns Payless, which a car rental brand; Apex, which is a car rental brand in New Zealand and Australia; Maggiore, a vehicle rental brand in Italy, and France Cars, which operates light commercial vehicle fleets in France.
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