Bank of Montreal Can Has $286,000 Position in Avis Budget Group, Inc. (NASDAQ:CAR)

Bank of Montreal Can lessened its stake in Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 96.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,549 shares of the business services provider's stock after selling 99,811 shares during the quarter. Bank of Montreal Can's holdings in Avis Budget Group were worth $286,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CAR. Aster Capital Management DIFC Ltd purchased a new stake in Avis Budget Group during the 4th quarter worth approximately $25,000. GAMMA Investing LLC lifted its holdings in shares of 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. Quadrant Capital Group LLC boosted its holdings in shares of Avis Budget Group by 41.0% during the fourth 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 during the period. Signaturefd LLC grew its position in Avis Budget Group by 31.8% in the 4th 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 last quarter. Finally, Xponance Inc. grew its holdings in Avis Budget Group by 11.2% in the 4th quarter. Xponance Inc. now owns 2,711 shares of the business services provider's stock worth $219,000 after buying an additional 274 shares in the last quarter. 96.35% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Lynn Krominga sold 1,405 shares of Avis Budget Group stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $95.00, for a total transaction of $133,475.00. Following the completion of the sale, the director now directly owns 1,950 shares of the company's stock, valued at $185,250. The trade was a 41.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 52.80% of the company's stock.

Avis Budget Group Trading Up 2.6 %

CAR traded up $2.42 during midday trading on Friday, reaching $93.81. The company's stock had a trading volume of 1,620,722 shares, compared to its average volume of 843,736. Avis Budget Group, Inc. has a twelve month low of $54.03 and a twelve month high of $132.25. The company has a fifty day simple moving average of $73.53 and a 200 day simple moving average of $84.61. The stock has a market cap of $3.30 billion, a P/E ratio of -1.81 and a beta of 2.05.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The business services provider reported ($0.23) EPS for the quarter, topping analysts' consensus estimates 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%. Sell-side analysts expect that Avis Budget Group, Inc. will post 8.91 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Avis Budget Group from a "hold" rating to a "sell" rating in a report on Friday. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $121.33.

Avis Budget Group Profile

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.