StockNews.com Downgrades Avis Budget Group (NASDAQ:CAR) to Sell

StockNews.com cut shares of Avis Budget Group (NASDAQ:CAR) from a hold rating to a sell rating in a report published on Friday morning.

Avis Budget Group Stock Performance

NASDAQ CAR opened at $93.81 on Friday. The company has a market cap of $3.30 billion, a PE ratio of -1.81 and a beta of 2.05. The firm’s 50 day moving average price is $73.53 and its 200-day moving average price is $84.61. Avis Budget Group has a 52-week low of $54.03 and a 52-week high of $132.25.

Avis Budget Group (NASDAQ:CAR) last announced 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 return on equity of 14.74% and a negative net margin of 15.45%. On average, analysts forecast that Avis Budget Group will post 8.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Lynn Krominga sold 1,405 shares of the firm’s stock in a transaction dated 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 directly owns 1,950 shares in the company, valued at approximately $185,250. This trade represents a 41.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 52.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Avis Budget Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC increased its position in shares of Avis Budget Group by 30.5% during the third quarter. Barclays PLC now owns 200,576 shares of the business services provider’s stock worth $17,571,000 after purchasing an additional 46,922 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in Avis Budget Group during the 3rd quarter valued at about $263,000. GAMMA Investing LLC raised its stake in Avis Budget Group by 118.8% in the fourth quarter. GAMMA Investing LLC now owns 337 shares of the business services provider’s stock valued at $27,000 after buying an additional 183 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Avis Budget Group by 139.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 379,805 shares of the business services provider’s stock worth $30,616,000 after acquiring an additional 221,456 shares in the last quarter. Finally, Diversify Advisory Services LLC acquired a new stake in Avis Budget Group in the fourth quarter worth about $254,000. Hedge funds and other institutional investors own 96.35% of the company’s stock.

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.