Avis Budget Group, Inc. (NASDAQ:CAR) Short Interest Update

Avis Budget Group, Inc. (NASDAQ:CAR) saw a significant 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. Currently, 16.0% of the company’s stock are sold short. Based on an average trading volume of 1,180,000 shares, the short-interest ratio is presently 4.6 days.

Avis Budget Group Price Performance

Shares of CAR stock opened at $84.89 on Wednesday. The stock’s fifty day moving average price is $73.66 and its 200 day moving average price is $84.56. Avis Budget Group has a 1-year low of $54.03 and a 1-year high of $132.25. The company has a market cap of $2.99 billion, a price-to-earnings ratio of -1.64 and a beta of 2.05.

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

Insider Activity at Avis Budget Group

In other news, Director Lynn Krominga sold 1,405 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $95.00, for a total transaction of $133,475.00. Following the transaction, the director now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 52.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Avis Budget Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. purchased a new position in Avis Budget Group in the 1st quarter worth $221,000. SummerHaven Investment Management LLC increased its holdings in shares of Avis Budget Group by 2.1% in the first quarter. SummerHaven Investment Management LLC now owns 7,623 shares of the business services provider’s stock valued at $579,000 after purchasing an additional 160 shares during the period. SG Americas Securities LLC raised its stake in shares of Avis Budget Group by 281.1% in the first quarter. SG Americas Securities LLC now owns 123,176 shares of the business services provider’s stock worth $9,349,000 after purchasing an additional 90,851 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new stake in shares of Avis Budget Group during the first quarter worth about $246,000. Finally, UMB Bank n.a. boosted its position in Avis Budget Group by 106.9% in the first quarter. UMB Bank n.a. now owns 478 shares of the business services provider’s stock valued at $36,000 after buying an additional 247 shares during the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.

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.