Avis Budget Group (NASDAQ:CAR) Stock Price Down 5.1% – Should You Sell?

Avis Budget Group, Inc. (NASDAQ:CAR)’s stock price dropped 5.1% on Thursday . The company traded as low as $58.27 and last traded at $57.80. Approximately 199,728 shares were traded during trading, a decline of 71% from the average daily volume of 683,995 shares. The stock had previously closed at $60.90.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised their price target on 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 investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $133.75.

Avis Budget Group Price Performance

The firm’s fifty day moving average is $81.82 and its 200-day moving average is $85.90. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of -1.17 and a beta of 2.37.

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, topping analysts’ consensus estimates 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, equities research analysts anticipate that Avis Budget Group, Inc. will post 8.91 EPS for the current year.

Insider Transactions 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 completion of 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 document filed with the SEC, which can be accessed through the SEC website. Insiders own 52.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CAR. Neo Ivy Capital Management acquired a new stake in shares of Avis Budget Group in the 4th quarter worth about $5,005,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Avis Budget Group by 8.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 55,777 shares of the business services provider’s stock worth $4,496,000 after purchasing an additional 4,286 shares during the last quarter. Twinbeech Capital LP bought a new position in shares of Avis Budget Group in the fourth quarter valued at approximately $387,000. Two Sigma Advisers LP boosted its position in shares of Avis Budget Group by 162.9% during the fourth quarter. Two Sigma Advisers LP now owns 18,400 shares of the business services provider’s stock valued at $1,483,000 after buying an additional 11,400 shares during the last quarter. Finally, Two Sigma Investments LP grew its holdings in Avis Budget Group by 53.1% during the fourth quarter. Two Sigma Investments LP now owns 104,909 shares of the business services provider’s stock worth $8,457,000 after buying an additional 36,393 shares in the last quarter. 96.35% of the stock is owned by institutional investors.

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.