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 business’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $91.54, for a total value of $178,503.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Avis Budget Group Price Performance

Shares of NASDAQ:CAR opened at $92.90 on Thursday. The business has a fifty day moving average price of $120.76 and a 200-day moving average price of $138.01. The company has a market capitalization of $3.28 billion, a PE ratio of -3.66 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.

Hedge Funds Weigh In On Avis Budget Group

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group set a $85.00 target price on shares of Avis Budget Group in a research note on Monday. Zacks Research cut Avis Budget Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 19th. Morgan Stanley reiterated an “equal weight” rating and set a $142.00 target price (up from $115.00) on shares of Avis Budget Group in a research note on Monday, December 8th. Weiss Ratings restated a “sell (d)” rating on shares of Avis Budget Group in a research note on Wednesday, January 21st. Finally, Barclays lowered their price target on Avis Budget Group from $150.00 to $120.00 and set an “equal weight” rating on the stock in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus 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.