Avis Budget Group (NASDAQ:CAR) Upgraded by StockNews.com to Hold Rating

by · The Cerbat Gem

StockNews.com upgraded shares of Avis Budget Group (NASDAQ:CAR – Free Report) from a sell rating to a hold rating in a report released on Saturday morning.

Avis Budget Group Stock Up 0.1 %

Shares of NASDAQ CAR opened at $96.30 on Friday. The company has a market capitalization of $3.39 billion, a PE ratio of -1.86 and a beta of 2.10. The stock’s 50 day moving average price is $74.30 and its 200-day moving average price is $85.17. Avis Budget Group has a twelve month low of $54.03 and a twelve month high of $132.25.

Avis Budget Group (NASDAQ:CAR – Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The business services provider reported ($0.23) earnings per share for the quarter, topping 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, research analysts expect that Avis Budget Group will post 8.91 EPS for the current fiscal year.

Insider Buying and Selling

In other Avis Budget Group news, Director Lynn Krominga sold 1,405 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $95.00, for a total value of $133,475.00. Following the completion of the sale, the director now directly owns 1,950 shares of the company’s stock, valued at $185,250. This trade represents a 41.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 52.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Avis Budget Group

Large investors have recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new position in Avis Budget Group during the fourth quarter worth about $25,000. GAMMA Investing LLC lifted its stake in shares of Avis Budget Group by 118.8% during the 4th 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 in the last quarter. UMB Bank n.a. boosted its holdings in Avis Budget Group by 106.9% in the 1st quarter. UMB Bank n.a. now owns 478 shares of the business services provider’s stock worth $36,000 after buying an additional 247 shares during the period. Quadrant Capital Group LLC grew its stake in Avis Budget Group by 41.0% in the 4th quarter. Quadrant Capital Group LLC now owns 681 shares of the business services provider’s stock valued at $55,000 after buying an additional 198 shares in the last quarter. Finally, Sterling Capital Management LLC grew its stake in Avis Budget Group by 41.3% in the 4th quarter. Sterling Capital Management LLC now owns 736 shares of the business services provider’s stock valued at $59,000 after buying an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

About Avis Budget Group

(Get Free Report)

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.

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