Vanguard Group Inc. Cuts Stake in Avis Budget Group, Inc. (NASDAQ:CAR)

Vanguard Group Inc. lessened its stake in shares of Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,564,148 shares of the business services provider's stock after selling 27,889 shares during the quarter. Vanguard Group Inc. owned about 4.45% of Avis Budget Group worth $126,086,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CAR. Amalgamated Bank grew its position in shares of Avis Budget Group by 2.0% in the fourth quarter. Amalgamated Bank now owns 7,973 shares of the business services provider's stock valued at $643,000 after purchasing an additional 155 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Avis Budget Group by 118.8% during the fourth quarter. GAMMA Investing LLC now owns 337 shares of the business services provider's stock valued at $27,000 after buying an additional 183 shares during the period. Yousif Capital Management LLC lifted its holdings in shares of Avis Budget Group by 2.5% in the fourth quarter. Yousif Capital Management LLC now owns 7,592 shares of the business services provider's stock worth $612,000 after buying an additional 187 shares in the last quarter. Signaturefd LLC increased its stake in Avis Budget Group by 31.8% in the fourth quarter. Signaturefd LLC now owns 936 shares of the business services provider's stock valued at $75,000 after acquiring an additional 226 shares during the last quarter. Finally, US Bancorp DE raised its position in 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. 96.35% of the stock is owned by institutional investors.

Avis Budget Group Stock Down 1.7 %

Shares of NASDAQ CAR traded down $1.19 during trading hours on Friday, reaching $69.68. 1,322,955 shares of the stock traded hands, compared to its average volume of 807,100. The company has a market capitalization of $2.45 billion, a P/E ratio of -1.34 and a beta of 2.05. The company's 50-day simple moving average is $75.03 and its two-hundred day simple moving average is $84.95. Avis Budget Group, Inc. has a 52-week low of $54.03 and a 52-week high of $132.25.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The business services provider reported ($0.23) earnings per share for the quarter, topping analysts' consensus estimates 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 forecast that Avis Budget Group, Inc. will post 8.91 earnings per share for the current fiscal year.

Insider Activity

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 shares were sold at an average price of $95.00, for a total value of $133,475.00. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 52.00% of the company's stock.

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.