KLP Kapitalforvaltning AS Buys Shares of 4,000 Avis Budget Group, Inc. (NASDAQ:CAR)

KLP Kapitalforvaltning AS bought a new stake in Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,000 shares of the business services provider's stock, valued at approximately $322,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAR. GAMMA Investing LLC raised its position in Avis Budget Group by 118.8% in the 4th quarter. GAMMA Investing LLC now owns 337 shares of the business services provider's stock worth $27,000 after purchasing an additional 183 shares during the last quarter. Signaturefd LLC increased its stake in shares of Avis Budget Group by 31.8% in the 4th quarter. Signaturefd LLC now owns 936 shares of the business services provider's stock valued at $75,000 after buying an additional 226 shares during the period. Xponance Inc. raised 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 acquiring an additional 274 shares during the last quarter. US Bancorp DE lifted its stake in shares of Avis Budget Group by 9.6% during the fourth quarter. US Bancorp DE now owns 2,984 shares of the business services provider's stock valued at $241,000 after acquiring an additional 261 shares during the period. Finally, Diversify Advisory Services LLC bought a new position in Avis Budget Group in the fourth quarter valued at about $254,000. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Avis Budget Group news, Director Lynn Krominga sold 1,405 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $95.00, for a total value of $133,475.00. Following the transaction, the director now owns 1,950 shares of the company's stock, 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 SEC, which can be accessed through the SEC website. Company insiders own 52.00% of the company's stock.

Avis Budget Group Stock Down 4.1 %

CAR stock traded down $3.05 during midday trading on Thursday, reaching $70.87. The stock had a trading volume of 2,957,400 shares, compared to its average volume of 807,479. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of -1.37 and a beta of 2.05. Avis Budget Group, Inc. has a twelve month low of $54.03 and a twelve month high of $132.25. The business has a fifty day simple moving average of $75.42 and a two-hundred day simple moving average of $85.05.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The business services provider reported ($0.23) EPS for the quarter, topping 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%. On average, equities analysts predict that Avis Budget Group, Inc. will post 8.91 earnings per share for the current fiscal year.

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.