Bank of Montreal Can Cuts Position in Avis Budget Group, Inc. (NASDAQ:CAR)

Bank of Montreal Can lowered its stake in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 96.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,549 shares of the business services provider’s stock after selling 99,811 shares during the period. Bank of Montreal Can’s holdings in Avis Budget Group were worth $286,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Amalgamated Bank grew its holdings in 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 during the last quarter. GAMMA Investing LLC raised its position in shares of Avis Budget Group by 118.8% during the 4th 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 last quarter. Yousif Capital Management LLC grew its holdings in Avis Budget Group by 2.5% during the 4th quarter. Yousif Capital Management LLC now owns 7,592 shares of the business services provider’s stock valued at $612,000 after buying an additional 187 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Avis Budget Group by 41.0% in the fourth 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 last quarter. Finally, Signaturefd LLC boosted its stake in shares of 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 acquiring an additional 226 shares during the last quarter. 96.35% of the stock is owned by hedge funds and other institutional investors.

Avis Budget Group Price Performance

Shares of NASDAQ CAR opened at $86.29 on Thursday. Avis Budget Group, Inc. has a 12 month low of $54.03 and a 12 month high of $132.25. The company has a 50-day simple moving average of $73.57 and a 200-day simple moving average of $84.57. The company has a market cap of $3.04 billion, a PE ratio of -1.67 and a beta of 2.05.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings data on Tuesday, February 11th. The business services provider reported ($0.23) EPS for the quarter, beating 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%. On average, analysts anticipate that Avis Budget Group, Inc. will post 8.91 EPS for the current year.

Insider Activity

In other Avis Budget Group news, Director Lynn Krominga sold 661 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $95.00, for a total transaction of $62,795.00. Following the completion of the sale, the director now owns 3,355 shares of the company’s stock, valued at approximately $318,725. The trade was a 16.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 52.80% of the company’s stock.

Avis Budget Group Company 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.