Avis Budget Group (NASDAQ:CAR) Reaches New 1-Year Low – Time to Sell?

Shares of Avis Budget Group, Inc. (NASDAQ:CAR) reached a new 52-week low during trading on Wednesday . The stock traded as low as $61.41 and last traded at $63.79, with a volume of 2267895 shares. The stock had previously closed at $71.59.

Analyst Ratings Changes

A number of brokerages recently weighed in on CAR. The Goldman Sachs Group lifted their price objective on shares of Avis Budget Group from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Northcoast Research downgraded shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a research note on Monday, November 18th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $133.75.

Avis Budget Group Stock Performance

The firm’s fifty day moving average price is $84.87 and its 200 day moving average price is $86.90. The firm has a market cap of $1.95 billion, a P/E ratio of -1.07 and a beta of 2.37.

Avis Budget Group (NASDAQ:CAR) last issued 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 net margin of 15.45% and a negative return on equity of 14.74%. As a group, analysts expect that Avis Budget Group, Inc. will post 8.91 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Lynn Krominga sold 661 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $95.00, for a total value of $62,795.00. Following the sale, the director now directly owns 3,355 shares in the company, valued at approximately $318,725. This trade represents a 16.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 52.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CAR. Aster Capital Management DIFC Ltd purchased a new position in Avis Budget Group in the fourth quarter worth $25,000. GAMMA Investing LLC boosted its position in shares of Avis Budget Group by 118.8% in the 4th quarter. GAMMA Investing LLC now owns 337 shares of the business services provider’s stock worth $27,000 after purchasing an additional 183 shares in the last quarter. Quadrant Capital Group LLC grew its stake in Avis Budget Group by 41.0% during the 4th quarter. Quadrant Capital Group LLC now owns 681 shares of the business services provider’s stock worth $55,000 after buying an additional 198 shares during the last quarter. Sterling Capital Management LLC grew its stake in Avis Budget Group by 41.3% during the 4th quarter. Sterling Capital Management LLC now owns 736 shares of the business services provider’s stock worth $59,000 after buying an additional 215 shares during the last quarter. Finally, Signaturefd LLC increased its position in Avis Budget Group by 31.8% during the 4th quarter. Signaturefd LLC now owns 936 shares of the business services provider’s stock valued at $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.