Shorts On Watch: Could Avis Budget Group Incorporated (NASDAQ:CAR) Skyrocket? The Stock Has Too Many Sellers

November 28, 2016 - By Peter Erickson   ·   0 Comments

Shorts On Watch: Could Avis Budget Group Incorporated (NASDAQ:CAR) Skyrocket? The Stock Has Too Many Sellers

The stock of Avis Budget Group Incorporated (NASDAQ:CAR) registered an increase of 1.41% in short interest. CAR’s total short interest was 17.80M shares in November as published by FINRA. Its up 1.41% from 17.55 million shares, reported previously. With 1.18M shares average volume, it will take short sellers 15 days to cover their CAR’s short positions. The short interest to Avis Budget Group Incorporated’s float is 24.82%. About 924,881 shares traded hands. Avis Budget Group Inc. (NASDAQ:CAR) has risen 65.63% since April 25, 2016 and is uptrending. It has outperformed by 59.61% the S&P500.

Avis Budget Group Inc. is a provider of vehicle rental and car sharing services. The company has a market cap of $3.43 billion. The Firm operates three brands, which include Avis, Budget and Zipcar. It has a 18.79 P/E ratio. Avis is a rental car supplier and Budget is a rental vehicle supplier.

Insitutional Activity: The institutional sentiment increased to 1.06 in 2016 Q2. Its up 0.23, from 0.83 in 2016Q1. The ratio increased, as 33 funds sold all Avis Budget Group Inc. shares owned while 76 reduced positions. 37 funds bought stakes while 53 increased positions. They now own 95.80 million shares or 3.70% less from 99.49 million shares in 2016Q1.
Moreover, Aqr Capital Mgmt Ltd Llc has 0% invested in Avis Budget Group Inc. (NASDAQ:CAR) for 10,517 shares. Samlyn Cap Lc holds 56,200 shares or 0.04% of its portfolio. Glenmede Na holds 0% of its portfolio in Avis Budget Group Inc. (NASDAQ:CAR) for 144 shares. Paloma holds 0.04% or 118,943 shares in its portfolio. Cibc World has invested 0.43% of its portfolio in Avis Budget Group Inc. (NASDAQ:CAR). Voya Inv Mngmt Limited Company has 0% invested in the company for 36,228 shares. Amalgamated Savings Bank holds 0.03% of its portfolio in Avis Budget Group Inc. (NASDAQ:CAR) for 13,353 shares. Philadelphia Financial Management Of San Francisco Limited Liability Company holds 489,161 shares or 3.62% of its portfolio. Grp One Trading Lp has invested 0.01% of its portfolio in Avis Budget Group Inc. (NASDAQ:CAR). Metropolitan Life Ins Co Ny last reported 0% of its portfolio in the stock. State Bank Of Mellon accumulated 4.08 million shares or 0.04% of the stock. Zacks Invest Mngmt last reported 0.03% of its portfolio in the stock. Renaissance Tech last reported 133,400 shares in the company. Wellington Management Group Limited Liability Partnership has 0.01% invested in the company for 741,708 shares. Credit Agricole S A holds 102,104 shares or 0.01% of its portfolio.

Insider Transactions: Since August 4, 2016, the stock had 0 insider purchases, and 11 selling transactions for $7.23 million net activity. NELSON RONALD L sold 62,615 shares worth $2.50M. The insider Tucker Michael K sold $250,598. $146,760 worth of Avis Budget Group Inc. (NASDAQ:CAR) was sold by Linnen Edward P on Wednesday, August 24. 803 shares were sold by Sweeney Stender E, worth $30,789. Hardy John D. Jr. sold $27,140 worth of stock or 779 shares. Wyshner David B sold $725,400 worth of stock.

Avis Budget Group Inc. (NASDAQ:CAR) Ratings Coverage

Out of 7 analysts covering Avis Budget (NASDAQ:CAR), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. Avis Budget has been the topic of 19 analyst reports since August 5, 2015 according to StockzIntelligence Inc. Barclays Capital maintained it with “Equal-Weight” rating and $33 target price in Wednesday, August 10 report. The company was downgraded on Wednesday, November 4 by JP Morgan. The firm has “Buy” rating by Deutsche Bank given on Thursday, February 25. The stock of Avis Budget Group Inc. (NASDAQ:CAR) earned “Buy” rating by Sterne Agee CRT on Tuesday, March 22. The rating was maintained by Credit Suisse with “Outperform” on Thursday, February 25. As per Monday, November 16, the company rating was maintained by Barclays Capital. On Thursday, February 25 the stock rating was maintained by M Partners with “Buy”. Credit Suisse maintained the stock with “Outperform” rating in Tuesday, April 12 report. The firm has “Equal-Weight” rating by Barclays Capital given on Monday, February 22. The firm has “Equal-Weight” rating given on Thursday, February 25 by Barclays Capital.

CAR Company Profile

Avis Budget Group Inc., incorporated on August 1, 1974, is a well-known provider of vehicle rental and car sharing services. The Firm operates three brands, which include Avis, Budget and Zipcar. Avis is a rental car supplier and Budget is a rental vehicle supplier. The Firm also owns Payless, which is a car rental brand, and Apex, which is a car rental brand in New Zealand and Australia. The Firm operates in two divisions: Americas and International. The Americas segment provides and licenses the Company’s brands to third parties for vehicle rentals and ancillary services and products in North America, South America, Central America and the Caribbean, and operates its car sharing business in certain of these markets. The International segment provides and licenses the Company’s brands to third parties for vehicle rentals and ancillary services and products in Europe, the Middle East, Africa, Asia, South America, Central America, the Caribbean, Australia and New Zealand, and operates its car sharing business in certain of these markets.

More recent Avis Budget Group Inc. (NASDAQ:CAR) news were published by: Nasdaq.com which released: “Avis Budget Group Reaches Analyst Target Price” on November 07, 2016. Also Globenewswire.com published the news titled: “Avis Budget Group Increases Its Stock Repurchase Program” on November 14, 2016. Fool.com‘s news article titled: “Why Shares of Avis Budget Group Are Surging Today” with publication date: November 03, 2016 was also an interesting one.

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By Peter Erickson


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