Short Interest in Avis Budget Group, Inc. (NASDAQ:CAR) Increases By 19.0%

Avis Budget Group, Inc. (NASDAQ:CAR - Get Free Report) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 5,450,000 shares, an increase of 19.0% from the March 15th total of 4,580,000 shares. Currently, 16.0% of the company's shares are sold short. Based on an average daily volume of 1,180,000 shares, the short-interest ratio is presently 4.6 days.

Avis Budget Group Trading Up 2.6 %

Shares of NASDAQ CAR traded up $2.42 during mid-day trading on Friday, reaching $93.81. The company had a trading volume of 1,620,722 shares, compared to its average volume of 843,736. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of -1.81 and a beta of 2.05. Avis Budget Group has a 52 week low of $54.03 and a 52 week high of $132.25. The business's 50-day moving average is $73.53 and its 200-day moving average is $84.61.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The business services provider reported ($0.23) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.50) by $0.27. Avis Budget Group had a negative return on equity of 14.74% and a negative net margin of 15.45%. As a group, equities research analysts forecast that Avis Budget Group will post 8.91 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Avis Budget Group from a "hold" rating to a "sell" rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Avis Budget Group presently has an average rating of "Hold" and an average target price of $121.33.

Insider Buying and Selling at Avis Budget Group

In other Avis Budget Group news, Director Lynn Krominga sold 661 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $95.00, for a total transaction of $62,795.00. Following the transaction, the director now owns 3,355 shares in the company, valued at $318,725. The trade was a 16.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 52.80% of the company's stock.

Institutional Investors Weigh In On Avis Budget Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC increased its stake in Avis Budget Group by 30.5% during the 3rd quarter. Barclays PLC now owns 200,576 shares of the business services provider's stock valued at $17,571,000 after purchasing an additional 46,922 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in Avis Budget Group during the 3rd quarter worth about $263,000. GAMMA Investing LLC grew its stake in Avis Budget Group by 118.8% during the 4th quarter. GAMMA Investing LLC now owns 337 shares of the business services provider's stock valued at $27,000 after purchasing an additional 183 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of 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. Finally, Diversify Advisory Services LLC purchased a new position in shares of Avis Budget Group in the fourth quarter worth about $254,000. 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.