Will Avis Budget Group Incorporated (NASDAQ:CAR) Run Out of Steam Soon? Short Interest Is Down

September 17, 2017 - By Michael Collier

 Will Avis Budget Group Incorporated (NASDAQ:CAR) Run Out of Steam Soon? Short Interest Is Down

Investors sentiment decreased to 0.83 in Q4 2016. Its down 0.23, from 1.06 in 2016Q3. It dropped, 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.
Old Mutual Customised Solutions (Proprietary) Limited accumulated 0.03% or 5,000 shares. Bancorporation Of America Corporation De stated it has 0% in Avis Budget Group Inc. (NASDAQ:CAR). Hsbc Holding Pcl holds 0% in Avis Budget Group Inc. (NASDAQ:CAR) or 39,510 shares. The California-based California Pub Employees Retirement System has invested 0.02% in Avis Budget Group Inc. (NASDAQ:CAR). 3.81M are held by Bancorp Of New York Mellon. Nomura Asset Management owns 0.01% invested in Avis Budget Group Inc. (NASDAQ:CAR) for 16,770 shares. Jane Street Gp Ltd Liability invested in 0% or 17,098 shares. Fiera Capital owns 56,900 shares or 0.01% of their US portfolio. Cipher Capital L P reported 75,392 shares. 8,250 were accumulated by Hillsdale Invest. Redwood Management Lc has 0.25% invested in Avis Budget Group Inc. (NASDAQ:CAR) for 50,000 shares. Nj State Employees Deferred Compensation Plan reported 0.18% of its portfolio in Avis Budget Group Inc. (NASDAQ:CAR). 74,981 are held by First Republic Investment Incorporated. Ubs Asset Mngmt Americas stated it has 0.01% in Avis Budget Group Inc. (NASDAQ:CAR). Hotchkis Wiley Management Ltd Liability reported 0.06% of its portfolio in Avis Budget Group Inc. (NASDAQ:CAR).

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

The stock of Avis Budget Group Incorporated (NASDAQ:CAR) registered a decrease of 0.43% in short interest. CAR’s total short interest was 32.95M shares in September as published by FINRA. Its down 0.43% from 33.09 million shares, reported previously. With 2.19M 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. As per Tuesday, September 27, the company rating was maintained by Barclays Capital. Barclays Capital maintained the stock with “Equal Weight” rating in Wednesday, August 5 report. The firm has “Equal-Weight” rating given on Thursday, February 25 by Barclays Capital. Credit Suisse maintained the stock with “Hold” rating in Thursday, September 14 report. The rating was maintained by M Partners on Monday, December 14 with “Buy”. The firm has “Neutral” rating by JP Morgan given on Wednesday, November 4. The stock of Avis Budget Group Inc. (NASDAQ:CAR) earned “Neutral” rating by Goldman Sachs on Monday, October 24. Macquarie Research initiated it with “Outperform” rating and $44 target in Friday, August 26 report. The company was maintained on Thursday, February 25 by Deutsche Bank. The firm has “Outperform” rating given on Tuesday, April 12 by Credit Suisse.

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 Nasdaq.com published article titled: “Why Is Avis Budget (CAR) Up 7.8% Since the Last Earnings Report?”, 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: Businesswire.com and their article: “Global Car Rental Market: Size, Trends & Forecasts 2017-2021 Featuring Avis …” with publication date: September 15, 2017.

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