Boothbay Fund Management LLC Takes $477,000 Position in Avis Budget Group, Inc. (NASDAQ:CAR)

Boothbay Fund Management LLC bought a new stake in shares of Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,922 shares of the business services provider's stock, valued at approximately $477,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ING Groep NV lifted its stake in Avis Budget Group by 310.4% in the fourth quarter. ING Groep NV now owns 325,000 shares of the business services provider's stock worth $26,198,000 after acquiring an additional 245,800 shares during the last quarter. National Bank of Canada FI grew its position in Avis Budget Group by 266.7% in the 4th quarter. National Bank of Canada FI now owns 330,000 shares of the business services provider's stock valued at $26,601,000 after buying an additional 240,000 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Avis Budget Group by 139.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 379,805 shares of the business services provider's stock valued at $30,616,000 after purchasing an additional 221,456 shares during the period. Wealthfront Advisers LLC acquired a new stake in shares of Avis Budget Group in the 4th quarter valued at approximately $12,164,000. Finally, Wolverine Asset Management LLC boosted its position in shares of Avis Budget Group by 870.6% during the 4th quarter. Wolverine Asset Management LLC now owns 162,771 shares of the business services provider's stock worth $13,121,000 after purchasing an additional 146,000 shares in the last quarter. Hedge funds and other institutional investors own 96.35% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Avis Budget Group from a "sell" rating to a "hold" rating in a research report on Saturday. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Avis Budget Group has a consensus rating of "Hold" and a consensus target price of $117.60.

Avis Budget Group Stock Up 0.4 %

NASDAQ:CAR traded up $0.34 during trading hours on Tuesday, reaching $96.64. 314,416 shares of the company's stock were exchanged, compared to its average volume of 842,736. Avis Budget Group, Inc. has a 12 month low of $54.03 and a 12 month high of $132.25. The company has a market capitalization of $3.40 billion, a P/E ratio of -1.87 and a beta of 2.10. The business's 50-day simple moving average is $74.30 and its two-hundred day simple moving average is $85.17.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last released its 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%. As a group, sell-side analysts anticipate that Avis Budget Group, Inc. will post 8.91 earnings per share for the current fiscal year.

Insider Activity at Avis Budget Group

In other Avis Budget Group news, Director Lynn Krominga sold 1,405 shares of Avis Budget Group stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $95.00, for a total transaction of $133,475.00. Following the completion of the sale, the director now owns 1,950 shares of the company's stock, valued at approximately $185,250. The trade was a 41.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 52.80% of the stock is owned by insiders.

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.