Invesco Ltd. Increases Stake in Avis Budget Group, Inc. (NASDAQ:CAR)

Invesco Ltd. raised its stake in Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 9.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 148,972 shares of the business services provider's stock after acquiring an additional 12,440 shares during the quarter. Invesco Ltd. owned about 0.42% of Avis Budget Group worth $12,009,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of CAR. Barclays PLC raised its holdings in shares of Avis Budget Group by 30.5% in the third quarter. Barclays PLC now owns 200,576 shares of the business services provider's stock valued at $17,571,000 after purchasing an additional 46,922 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in shares of Avis Budget Group in the third quarter valued at approximately $263,000. GAMMA Investing LLC increased its position in shares of Avis Budget Group by 118.8% in the fourth 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 period. Assenagon Asset Management S.A. boosted its position in shares of Avis Budget Group by 139.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 379,805 shares of the business services provider's stock worth $30,616,000 after acquiring an additional 221,456 shares in the last quarter. Finally, Diversify Advisory Services LLC bought a new stake in shares of Avis Budget Group during the 4th quarter worth $254,000. 96.35% of the stock is owned by institutional investors.

Avis Budget Group Stock Up 5.9 %

Shares of NASDAQ CAR traded up $5.08 during midday trading on Thursday, reaching $91.39. 1,466,606 shares of the company were exchanged, compared to its average volume of 841,961. Avis Budget Group, Inc. has a one year low of $54.03 and a one year high of $132.25. The stock has a market cap of $3.22 billion, a P/E ratio of -1.76 and a beta of 2.05. The stock's 50-day moving average price is $73.57 and its 200-day moving average price is $84.57.

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

Insider Buying and Selling

In related news, Director Lynn Krominga sold 1,405 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $95.00, for a total value of $133,475.00. Following the transaction, the director now directly owns 1,950 shares of the company's stock, valued at approximately $185,250. The trade was a 41.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 52.80% of the stock is owned by insiders.

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.