Shares of Avis Budget Group (CAR) Sees Large Outflow of Money

Avis Budget Group (CAR) : Tuesdays money flow analysis of Avis Budget Group (CAR) indicates the selling of stock on the strength of price. The investors sold the stock on every rise as seen in the downtick transactions of $2.03 million. In comparison, the inflow of money on upticks was a meager $1.31 million. The dollar value of composite uptick trades minus the downtick trades was negative $0.72 million. The uptick to downtick ratio of 0.65 in the money flow shows weakness. The downtick transaction value was high at $0.62 million, which denotes distribution on strength.. Hence, the net money flow in the stock was negative ($0.62 million). Avis Budget Group (CAR) gained $0.06 at $36.37, a change of 0.17% over the previous days close.


Also, Macquarie initiates coverage on Avis Budget Group (NASDAQ:CAR).The analysts at the brokerage house have a current rating of Outperform on the shares. In a recent information released to the investors, Macquarie announces the price target of $44 per share. The rating by the firm was issued on August 25, 2016.

Avis Budget Group, Inc. has lost 3.23% in the last five trading days and dropped 0.19% in the last 4 weeks. Avis Budget Group, Inc. is up 18% in the last 3-month period. Year-to-Date the stock performance stands at -0.99%.

Avis Budget Group (NASDAQ:CAR): The stock opened at $36.38 on Tuesday but the bulls could not build on the opening and the stock topped out at $36.93 for the day. The stock traded down to $35.72 during the day, due to lack of any buying support eventually closed down at $35.93 with a loss of -1.05% for the day. The stock had closed at $36.31 on the previous day. The total traded volume was 653,100 shares.

In a related news, The Securities and Exchange Commission has divulged that Wyshner David B, officer (President & CFO) of Avis Budget Group, Inc., had unloaded 20,000 shares at an average price of $36.27 in a transaction dated on August 17, 2016. The total value of the transaction was worth $725,400.

Avis Budget Group Inc. is a provider of vehicle rental and car sharing services. The Company operates three brands, which include Avis, Budget and Zipcar. Avis is a rental car supplier and Budget is a rental vehicle supplier. The Company also own Payless, a car rental brand and Apex, which is a car rental brand in New Zealand and Australia. The Company operates in three segments: North America, International and Truck Rental. North America segment provides car rentals in the United States and vehicle rentals in Canada, as well as ancillary products and services. International segment provides and licenses the Companys brands to third parties for vehicle rentals and ancillary products in Europe, the Middle East, Africa, Asia, South America, Central America, the Caribbean, Australia and New Zealand. Truck Rental segment provides truck rentals and ancillary products and services to consumers and commercial users in the United States.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.