Renaissance Technologies LLC Takes $3.30 Million Position in Avis Budget Group, Inc. (NASDAQ:CAR)

Renaissance Technologies LLC purchased a new stake in shares of Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 40,980 shares of the business services provider's stock, valued at approximately $3,303,000. Renaissance Technologies LLC owned about 0.12% of Avis Budget Group as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd purchased a new stake in Avis Budget Group in the fourth quarter worth about $25,000. GAMMA Investing LLC increased its holdings in 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 acquiring an additional 183 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Avis Budget Group by 41.0% during the 4th quarter. Quadrant Capital Group LLC now owns 681 shares of the business services provider's stock worth $55,000 after acquiring an additional 198 shares during the period. Signaturefd LLC lifted its holdings in Avis Budget Group by 31.8% during the fourth quarter. Signaturefd LLC now owns 936 shares of the business services provider's stock valued at $75,000 after purchasing an additional 226 shares in the last quarter. Finally, Xponance Inc. boosted its position in shares of Avis Budget Group by 11.2% in the fourth quarter. Xponance Inc. now owns 2,711 shares of the business services provider's stock worth $219,000 after purchasing an additional 274 shares during the period. Hedge funds and other institutional investors own 96.35% of the company's stock.

Insider Activity at Avis Budget Group

In other news, Director Lynn Krominga sold 661 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $95.00, for a total transaction of $62,795.00. Following the sale, the director now directly owns 3,355 shares of the company's stock, valued at $318,725. This represents a 16.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 52.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Avis Budget Group Trading Up 2.6 %

Shares of NASDAQ:CAR traded up $2.42 during midday trading on Friday, reaching $93.81. 1,620,722 shares of the company were exchanged, compared to its average volume of 843,736. The stock has a market cap of $3.30 billion, a PE ratio of -1.81 and a beta of 2.05. The business's fifty day moving average is $73.53 and its two-hundred day moving average is $84.61. Avis Budget Group, Inc. has a one year low of $54.03 and a one year high of $132.25.

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, 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%. As a group, sell-side analysts expect 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.