Avis Budget Group, Inc. (NASDAQ:CAR) Short Interest Up 8.5% in November
Avis Budget Group, Inc. (NASDAQ:CAR – Get Free Report) was the recipient of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 2,690,000 shares, an increase of 8.5% from the October 31st total of 2,480,000 shares. Currently, 7.6% of the shares of the stock are sold short. Based on an average trading volume of 475,900 shares, the short-interest ratio is currently 5.7 days.
Institutional Investors Weigh In On Avis Budget Group
A number of hedge funds and other institutional investors have recently modified their holdings of CAR. B. Riley Wealth Advisors Inc. raised its position in Avis Budget Group by 14.2% in the third quarter. B. Riley Wealth Advisors Inc. now owns 4,759 shares of the business services provider’s stock worth $855,000 after acquiring an additional 591 shares in the last quarter. Graham Capital Management L.P. bought a new stake in Avis Budget Group in the third quarter worth about $988,000. Invst LLC raised its position in Avis Budget Group by 3.2% in the third quarter. Invst LLC now owns 3,751 shares of the business services provider’s stock worth $674,000 after acquiring an additional 116 shares in the last quarter. Comerica Bank purchased a new position in Avis Budget Group in the 3rd quarter worth about $1,559,000. Finally, Jacobs Levy Equity Management Inc. increased its stake in Avis Budget Group by 165.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 25,571 shares of the business services provider’s stock worth $4,595,000 after purchasing an additional 15,943 shares in the last quarter. 98.26% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Separately, StockNews.com upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a report on Thursday, November 2nd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $237.60.
Check Out Our Latest Stock Analysis on Avis Budget Group
Avis Budget Group Price Performance
Avis Budget Group stock opened at $195.71 on Friday. The company has a market cap of $7.09 billion, a PE ratio of 4.29 and a beta of 2.40. The company has a fifty day moving average price of $180.07 and a two-hundred day moving average price of $199.54. Avis Budget Group has a 12 month low of $153.55 and a 12 month high of $251.26.
Avis Budget Group (NASDAQ:CAR – Get Free Report) last released its quarterly earnings data on Thursday, November 2nd. The business services provider reported $16.78 EPS for the quarter, topping analysts’ consensus estimates of $14.54 by $2.24. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.59 billion. Avis Budget Group had a net margin of 14.95% and a negative return on equity of 559.82%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $21.70 earnings per share. Equities research analysts anticipate that Avis Budget Group will post 40.18 earnings per share for the current year.
Avis Budget Group Company Profile (Get Free Report)
Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers in the Americas, Europe, the Middle East and Africa, Asia, and Australasia. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; the Budget Truck brand, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of approximately 415 dealer-operated and 390 company-operated locations that serve the light commercial and consumer sectors in the continental United States; and the Zipcar brand, a car sharing network.
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Original: MarketBeat News Feed: Avis Budget Group, Inc. (NASDAQ:CAR) Short Interest Up 8.5% in November