Avis Budget Group, Inc. (NASDAQ:CAR) Shares Purchased by Covestor Ltd

Covestor Ltd boosted its stake in Avis Budget Group, Inc. (NASDAQ:CAR) by 36.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,353 shares of the business services provider’s stock after purchasing an additional 359 shares during the period. Covestor Ltd’s holdings in Avis Budget Group were worth $109,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of Avis Budget Group in the fourth quarter valued at $25,000. GAMMA Investing LLC boosted its holdings in Avis Budget Group by 118.8% during the 4th quarter. GAMMA Investing LLC now owns 337 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 183 shares during the period. Quadrant Capital Group LLC grew its position in Avis Budget Group by 41.0% in the 4th quarter. Quadrant Capital Group LLC now owns 681 shares of the business services provider’s stock valued at $55,000 after acquiring an additional 198 shares in the last quarter. Signaturefd LLC increased its stake in Avis Budget Group by 31.8% during the fourth quarter. Signaturefd LLC now owns 936 shares of the business services provider’s stock worth $75,000 after purchasing an additional 226 shares during the period. Finally, Xponance Inc. lifted its position in shares of Avis Budget Group by 11.2% during the fourth quarter. Xponance Inc. now owns 2,711 shares of the business services provider’s stock worth $219,000 after purchasing an additional 274 shares in the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Avis Budget Group Stock Performance

NASDAQ CAR opened at $69.68 on Friday. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of -1.34 and a beta of 2.05. The firm has a 50 day simple moving average of $75.03 and a 200-day simple moving average of $84.96. Avis Budget Group, Inc. has a one year low of $54.03 and a one year high of $132.25.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings results on Tuesday, February 11th. The business services provider reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.27. Avis Budget Group had a negative net margin of 15.45% and a negative return on equity of 14.74%. Equities analysts predict that Avis Budget Group, Inc. will post 8.91 EPS for the current fiscal year.

Insider Activity at Avis Budget Group

In related news, Director Lynn Krominga sold 1,405 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $95.00, for a total transaction of $133,475.00. Following the sale, the director now directly owns 1,950 shares in the company, valued at approximately $185,250. This represents a 41.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 52.00% of the stock is currently owned by company insiders.

About Avis Budget Group

Avis Budget Group, Inc engages in the provision of vehicle sharing and rental services. It operates through the following segments: Americas, International, and Corporate and Other. The Americas segment includes the vehicle rental and car sharing operations in North America, South America, Central America, and the Caribbean.