Quinn Opportunity Partners LLC Invests $484,000 in Avis Budget Group, Inc. (NASDAQ:CAR)

Quinn Opportunity Partners LLC bought a new position in Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 6,000 shares of the business services provider's stock, valued at approximately $484,000.

Several other institutional investors have also added to or reduced their stakes in CAR. Barclays PLC increased its position 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 acquiring an additional 46,922 shares during the period. Swiss National Bank raised its position in shares of Avis Budget Group by 0.9% in the 4th quarter. Swiss National Bank now owns 35,100 shares of the business services provider's stock worth $2,829,000 after acquiring an additional 300 shares in the last quarter. State Street Corp lifted its stake in shares of Avis Budget Group by 2.5% in the 3rd quarter. State Street Corp now owns 672,227 shares of the business services provider's stock valued at $58,880,000 after purchasing an additional 16,221 shares during the period. US Bancorp DE boosted its position 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 purchasing an additional 261 shares in the last quarter. Finally, Diversify Advisory Services LLC bought a new position in Avis Budget Group in the fourth quarter worth $254,000. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other 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 value of $133,475.00. Following the transaction, the director now directly owns 1,950 shares in the company, valued at $185,250. This trade represents a 41.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 52.80% of the stock is owned by corporate insiders.

Avis Budget Group Stock Up 15.3 %

Shares of NASDAQ:CAR traded up $11.15 during midday trading on Thursday, reaching $83.84. The company's stock had a trading volume of 2,132,782 shares, compared to its average volume of 1,215,002. Avis Budget Group, Inc. has a 12-month low of $54.03 and a 12-month high of $132.25. The firm has a market capitalization of $2.95 billion, a P/E ratio of -1.62 and a beta of 2.05. The firm has a 50 day moving average of $73.98 and a 200-day moving average of $84.65.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last released its earnings results 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 return on equity of 14.74% and a negative net margin of 15.45%. On average, research analysts predict that Avis Budget Group, Inc. will post 8.91 EPS for the current year.

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.