Short Interest in Avis Budget Group, Inc. (NASDAQ:CAR) Grows By 19.0%

Avis Budget Group, Inc. (NASDAQ:CAR) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 5,450,000 shares, a growth of 19.0% from the March 15th total of 4,580,000 shares. Based on an average daily trading volume, of 1,180,000 shares, the short-interest ratio is currently 4.6 days. Currently, 16.0% of the company’s stock are short sold.

Avis Budget Group Stock Performance

NASDAQ CAR traded down $4.54 on Monday, reaching $80.05. The stock had a trading volume of 1,193,889 shares, compared to its average volume of 826,618. The stock has a market cap of $2.82 billion, a P/E ratio of -1.55 and a beta of 2.05. The business’s 50-day moving average price is $73.77 and its 200 day moving average price is $84.61. Avis Budget Group has a 12-month low of $54.03 and a 12-month high of $132.25.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings results on Tuesday, February 11th. The business services provider reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.27. Avis Budget Group had a negative net margin of 15.45% and a negative return on equity of 14.74%. On average, sell-side analysts predict that Avis Budget Group will post 8.91 earnings per share for the current year.

Insider Activity at Avis Budget Group

In related news, Director Lynn Krominga sold 1,405 shares of the company’s stock in a transaction dated 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 represents a 41.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 52.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CAR. Aster Capital Management DIFC Ltd acquired a new position in Avis Budget Group in the 4th quarter valued at $25,000. GAMMA Investing LLC boosted its holdings in Avis Budget Group by 118.8% in the 4th quarter. GAMMA Investing LLC now owns 337 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 183 shares in the last quarter. UMB Bank n.a. increased its position in Avis Budget Group by 106.9% during the 1st quarter. UMB Bank n.a. now owns 478 shares of the business services provider’s stock worth $36,000 after purchasing an additional 247 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of 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 during the period. Finally, Sterling Capital Management LLC grew its holdings in Avis Budget Group by 41.3% during the fourth quarter. Sterling Capital Management LLC now owns 736 shares of the business services provider’s stock worth $59,000 after acquiring an additional 215 shares during the period. 96.35% of the stock is currently owned by hedge funds and other 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.