Fmr LLC Reduces Position in Avis Budget Group, Inc. (NASDAQ:CAR)

FMR LLC lowered its stake in shares of Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 8.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,069,089 shares of the business services provider's stock after selling 285,457 shares during the quarter. FMR LLC owned about 8.73% of Avis Budget Group worth $247,399,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp lifted its stake in Avis Budget Group by 2.5% during the 3rd quarter. State Street Corp now owns 672,227 shares of the business services provider's stock valued at $58,880,000 after acquiring an additional 16,221 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Avis Budget Group by 139.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 379,805 shares of the business services provider's stock valued at $30,616,000 after purchasing an additional 221,456 shares during the last quarter. National Bank of Canada FI grew its position in Avis Budget Group by 266.7% during the 4th quarter. National Bank of Canada FI now owns 330,000 shares of the business services provider's stock worth $26,601,000 after purchasing an additional 240,000 shares during the period. ING Groep NV raised its stake in shares of Avis Budget Group by 310.4% during the 4th quarter. ING Groep NV now owns 325,000 shares of the business services provider's stock valued at $26,198,000 after buying an additional 245,800 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Avis Budget Group by 9.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 203,274 shares of the business services provider's stock worth $16,386,000 after buying an additional 17,473 shares during the last quarter. 96.35% of the stock is owned by hedge funds and other institutional investors.

Avis Budget Group Price Performance

CAR stock traded up $9.94 during midday trading on Thursday, hitting $82.63. 1,614,093 shares of the stock traded hands, compared to its average volume of 1,206,892. Avis Budget Group, Inc. has a 1-year low of $54.03 and a 1-year high of $132.25. The firm has a market cap of $2.91 billion, a P/E ratio of -1.59 and a beta of 2.05. The stock's fifty day simple moving average is $73.98 and its 200-day simple moving average is $84.65.

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, research analysts predict that Avis Budget Group, Inc. will post 8.91 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Lynn Krominga sold 1,405 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at $185,250. This trade represents a 41.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 52.80% of the stock is currently owned by insiders.

Avis Budget Group Company 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.