139,364 Shares in Avis Budget Group, Inc. (NASDAQ:CAR) Acquired by Norges Bank

Norges Bank bought a new stake in Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 139,364 shares of the business services provider's stock, valued at approximately $11,234,000. Norges Bank owned 0.40% of Avis Budget Group as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Barclays PLC raised its stake in Avis Budget Group by 30.5% in the 3rd 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. Swiss National Bank raised its position in shares of Avis Budget Group by 0.9% in the fourth quarter. Swiss National Bank now owns 35,100 shares of the business services provider's stock valued at $2,829,000 after buying an additional 300 shares during the last quarter. State Street Corp lifted its stake in shares of Avis Budget Group by 2.5% in the third quarter. State Street Corp now owns 672,227 shares of the business services provider's stock worth $58,880,000 after buying an additional 16,221 shares in the last quarter. National Bank of Canada FI lifted its stake in shares of Avis Budget Group by 1,858.7% in the third quarter. National Bank of Canada FI now owns 90,000 shares of the business services provider's stock worth $7,883,000 after buying an additional 85,405 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in Avis Budget Group during the third quarter worth about $685,000. Hedge funds and other institutional investors own 96.35% of the company's stock.

Avis Budget Group Price Performance

Shares of NASDAQ:CAR traded down $1.19 during midday trading on Friday, hitting $69.68. The company had a trading volume of 1,322,955 shares, compared to its average volume of 807,491. The business's 50-day simple moving average is $75.03 and its 200-day simple moving average is $84.96. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of -1.34 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.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last posted 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 return on equity of 14.74% and a negative net margin of 15.45%. As a group, sell-side analysts forecast that Avis Budget Group, Inc. will post 8.91 EPS for the current year.

Insider Buying and Selling at Avis Budget Group

In other Avis Budget Group news, Director Lynn Krominga sold 1,405 shares of the firm's 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 owns 1,950 shares of the company's stock, 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 Securities & Exchange Commission, which is available 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.