Is Buying Avis Budget Group Incorporated (NASDAQ:CAR), Having Lower Short Interest a Winning Strategy?

September 17, 2017 - By Peter Erickson

 Is Buying Avis Budget Group Incorporated (NASDAQ:CAR), Having Lower Short Interest a Winning Strategy?

Investors sentiment decreased to 0.83 in Q4 2016. Its down 0.23, from 1.06 in 2016Q3. It turned negative, as 27 investors sold Avis Budget Group Inc. shares while 95 reduced holdings. 37 funds opened positions while 64 raised stakes. 89.88 million shares or 2.20% less from 91.91 million shares in 2016Q3 were reported.
32,580 are owned by Voya Investment Limited Liability Company. Aberdeen Asset Public Limited Com Uk invested 0% of its portfolio in Avis Budget Group Inc. (NASDAQ:CAR). Blackrock Institutional Na reported 0.01% stake. Meyer Handelman Commerce holds 0.16% or 98,325 shares in its portfolio. Principal Fincl Grp Inc owns 0.02% invested in Avis Budget Group Inc. (NASDAQ:CAR) for 335,336 shares. Fmr Limited Com has 0% invested in Avis Budget Group Inc. (NASDAQ:CAR) for 991,300 shares. Primecap Ca holds 0.02% or 510,100 shares. Pinebridge Investments L P reported 0.09% of its portfolio in Avis Budget Group Inc. (NASDAQ:CAR). Calvert Inv Management reported 0.01% of its portfolio in Avis Budget Group Inc. (NASDAQ:CAR). Vanguard reported 6.30M shares. Pnc Grp Inc reported 1,137 shares. Moreover, Profund Advisors Lc has 0.02% invested in Avis Budget Group Inc. (NASDAQ:CAR). Victory Management has invested 0.05% in Avis Budget Group Inc. (NASDAQ:CAR). 19,400 are owned by New York State Teachers Retirement Systems. Wellington Mngmt Grp Inc Limited Liability Partnership invested 0% in Avis Budget Group Inc. (NASDAQ:CAR).

Since May 5, 2017, it had 0 insider purchases, and 1 sale for $26,982 activity. Hardy John D. Jr. sold 992 shares worth $26,982.

The stock of Avis Budget Group Incorporated (NASDAQ:CAR) registered a decrease of 0.43% in short interest. CAR’s total short interest was 32.95 million shares in September as published by FINRA. Its down 0.43% from 33.09 million shares, reported previously. With 2.19 million 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 52.55%.

The stock decreased 0.40% or $0.14 on September 15, reaching $35.13. About 5.53 million shares traded or 48.66% up from the average. Avis Budget Group Inc. (NASDAQ:CAR) has declined 14.90% since September 17, 2016 and is downtrending. It has underperformed by 31.60% the S&P500.

Avis Budget Group Inc. is a provider of vehicle rental and car sharing services. The company has market cap of $2.90 billion. The Firm operates three brands, which include Avis, Budget and Zipcar. It has a 49.57 P/E ratio. Avis and Budget are a rental car supplier.

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

Among 10 analysts covering Avis Budget (NASDAQ:CAR), 6 have Buy rating, 1 Sell and 3 Hold. Therefore 60% are positive. Avis Budget had 28 analyst reports since August 5, 2015 according to SRatingsIntel. The rating was downgraded by Credit Suisse to “Neutral” on Friday, February 17. Barclays Capital maintained it with “Equal-Weight” rating and $35 target in Monday, February 22 report. The stock of Avis Budget Group Inc. (NASDAQ:CAR) earned “Equal-Weight” rating by Barclays Capital on Wednesday, August 10. The stock of Avis Budget Group Inc. (NASDAQ:CAR) has “Buy” rating given on Thursday, February 25 by M Partners. Barclays Capital maintained it with “Equal Weight” rating and $37 target in Tuesday, September 27 report. The stock of Avis Budget Group Inc. (NASDAQ:CAR) has “Neutral” rating given on Wednesday, November 4 by JP Morgan. Credit Suisse maintained the stock with “Outperform” rating in Thursday, February 25 report. The firm earned “Buy” rating on Monday, December 14 by M Partners. Macquarie Research initiated Avis Budget Group Inc. (NASDAQ:CAR) on Friday, August 26 with “Outperform” rating. Deutsche Bank maintained it with “Buy” rating and $46 target in Thursday, February 25 report.

More important recent Avis Budget Group Inc. (NASDAQ:CAR) news were published by: Bna.com which released: “VIDEO: Avis Using New `Paradigm’ to Assess Its Legal Services” on September 15, 2017, also Businesswire.com published article titled: “Global Car Rental Market: Size, Trends & Forecasts 2017-2021 Featuring Avis …”, Zacks.com published: “Avis Budget’s Zipcar Enters Latin America Through Costa Rica” on September 07, 2017. More interesting news about Avis Budget Group Inc. (NASDAQ:CAR) was released by: Nasdaq.com and their article: “Why Is Avis Budget (CAR) Up 7.8% Since the Last Earnings Report?” with publication date: September 07, 2017.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.