Avis Budget Group (NASDAQ:CAR) Stock Price Down 8% – Should You Sell?

Avis Budget Group, Inc. (NASDAQ:CAR)’s stock price fell 8% on Tuesday . The stock traded as low as $67.53 and last traded at $65.83. 253,173 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 695,588 shares. The stock had previously closed at $71.59.

Analyst Ratings Changes

CAR has been the subject of a number of recent analyst reports. Northcoast Research cut Avis Budget Group from a “buy” rating to a “neutral” rating in a research note on Monday, November 18th. The Goldman Sachs Group raised their target price on shares of Avis Budget Group from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Avis Budget Group has a consensus rating of “Hold” and a consensus price target of $133.75.

Avis Budget Group Stock Down 10.1 %

The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of -1.24 and a beta of 2.37. The stock’s fifty day moving average is $86.07 and its two-hundred day moving average is $87.47.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings data 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%. As a group, analysts anticipate that Avis Budget Group, Inc. will post 8.91 EPS for the current year.

Insiders Place Their Bets

In other news, Director Lynn Krominga sold 1,405 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 1,950 shares of the company’s stock, valued at approximately $185,250. This represents a 41.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 52.00% of the company’s stock.

Institutional Investors Weigh In On Avis Budget Group

Institutional investors have recently modified their holdings of the business. Aster Capital Management DIFC Ltd bought a new stake in Avis Budget Group in the 4th quarter valued at about $25,000. GAMMA Investing LLC raised its position in shares of 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 in the last quarter. Quadrant Capital Group LLC raised its position in shares of Avis Budget Group by 41.0% in the fourth 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. Sterling Capital Management LLC boosted its stake in shares of Avis Budget Group by 41.3% in the fourth 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 during the period. Finally, Signaturefd LLC grew its position in Avis Budget Group by 31.8% during the fourth quarter. Signaturefd LLC now owns 936 shares of the business services provider’s stock worth $75,000 after buying an additional 226 shares in the last quarter. Institutional investors own 96.35% of the company’s stock.

About Avis Budget Group

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.