Lynn Krominga Sells 1,950 Shares of Avis Budget Group (NASDAQ:CAR) Stock

Avis Budget Group, Inc. (NASDAQ:CAR) Director Lynn Krominga sold 1,950 shares of the stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $91.54, for a total transaction of $178,503.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Avis Budget Group Stock Up 7.2%

Shares of NASDAQ CAR traded up $6.30 during midday trading on Tuesday, hitting $93.99. The stock had a trading volume of 1,417,112 shares, compared to its average volume of 712,834. The stock has a 50 day simple moving average of $122.29 and a 200-day simple moving average of $138.75. The company has a market capitalization of $3.31 billion, a PE ratio of -3.70 and a beta of 2.33. Avis Budget Group, Inc. has a 1 year low of $54.03 and a 1 year high of $212.81.

Institutional Investors Weigh In On Avis Budget Group

Several hedge funds have recently modified their holdings of CAR. Quarry LP purchased a new stake in Avis Budget Group during the fourth quarter valued at about $27,000. Deseret Mutual Benefit Administrators grew its stake in shares of Avis Budget Group by 102.3% during the third quarter. Deseret Mutual Benefit Administrators now owns 174 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 88 shares in the last quarter. Basepoint Wealth LLC purchased a new stake in Avis Budget Group during the 4th quarter worth approximately $32,000. Hantz Financial Services Inc. increased its stake in shares of Avis Budget Group by 136.4% in the third quarter. Hantz Financial Services Inc. now owns 253 shares of the business services provider’s stock worth $41,000 after buying an additional 146 shares during the last quarter. Finally, American Wealth Advisors LLC acquired a new stake in shares of Avis Budget Group in the 3rd quarter valued at about $41,000. 96.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CAR. Weiss Ratings reiterated a “sell (d)” rating on shares of Avis Budget Group in a research report on Wednesday, January 21st. Barclays lowered their target price 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. Wall Street Zen downgraded shares of Avis Budget Group from a “hold” rating to a “sell” rating in a research note on Saturday. The Goldman Sachs Group set a $85.00 target price on shares of Avis Budget Group in a report on Monday. Finally, Susquehanna lowered their price objective on Avis Budget Group from $145.00 to $130.00 and set a “neutral” rating for the company in a research 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, Avis Budget Group 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.