Avis Budget Group Sees Unusually High Options Volume (NASDAQ:CAR)

Avis Budget Group, Inc. (NASDAQ:CAR) was the target of unusually large options trading activity on Thursday. Traders bought 11,523 call options on the company. This is an increase of 122% compared to the typical daily volume of 5,184 call options.

Insider Transactions at Avis Budget Group

In other news, Director Lynn Krominga sold 1,405 shares of Avis Budget Group stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $95.00, for a total transaction of $133,475.00. Following the sale, the director now directly owns 1,950 shares of the company’s stock, valued at approximately $185,250. The trade was a 41.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 52.80% of the company’s stock.

Hedge Funds Weigh In On Avis Budget Group

Several large investors have recently modified their holdings of CAR. State Street Corp raised its stake in Avis Budget Group by 2.5% during the third quarter. State Street Corp now owns 672,227 shares of the business services provider’s stock valued at $58,880,000 after buying an additional 16,221 shares in the last quarter. Barclays PLC increased its holdings in shares of Avis Budget Group by 30.5% in the 3rd quarter. Barclays PLC now owns 200,576 shares of the business services provider’s stock valued at $17,571,000 after acquiring an additional 46,922 shares during the last quarter. M&T Bank Corp acquired a new stake in shares of Avis Budget Group during the 3rd quarter valued at approximately $333,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Avis Budget Group during the 3rd quarter valued at approximately $263,000. Finally, GAMMA Investing LLC lifted its stake in Avis Budget Group by 118.8% during the fourth quarter. GAMMA Investing LLC now owns 337 shares of the business services provider’s stock worth $27,000 after purchasing an additional 183 shares during the last quarter. Institutional investors own 96.35% of the company’s stock.

Avis Budget Group Stock Up 16.4 %

Shares of NASDAQ CAR opened at $84.59 on Friday. Avis Budget Group has a fifty-two week low of $54.03 and a fifty-two week high of $132.25. The business has a 50 day moving average price of $73.77 and a two-hundred day moving average price of $84.62. The firm has a market cap of $2.98 billion, a PE ratio of -1.63 and a beta of 2.05.

Avis Budget Group (NASDAQ:CAR) last released 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, analysts anticipate that Avis Budget Group will post 8.91 earnings per share for the current year.

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.