Fmr LLC Has $247.40 Million Stock Position in Avis Budget Group, Inc. (NASDAQ:CAR)

Fmr LLC reduced its holdings in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 8.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,069,089 shares of the business services provider’s stock after selling 285,457 shares during the period. Fmr LLC owned approximately 0.09% of Avis Budget Group worth $247,399,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAR. ING Groep NV raised its holdings in Avis Budget Group by 310.4% during the fourth quarter. ING Groep NV now owns 325,000 shares of the business services provider’s stock worth $26,198,000 after acquiring an additional 245,800 shares in the last quarter. National Bank of Canada FI increased its position in shares of Avis Budget Group by 266.7% during the 4th quarter. National Bank of Canada FI now owns 330,000 shares of the business services provider’s stock worth $26,601,000 after purchasing an additional 240,000 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Avis Budget Group by 139.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 379,805 shares of the business services provider’s stock worth $30,616,000 after purchasing an additional 221,456 shares in the last quarter. Wealthfront Advisers LLC acquired a new stake in shares of Avis Budget Group in the 4th quarter valued at approximately $12,164,000. Finally, Wolverine Asset Management LLC grew its stake in shares of Avis Budget Group by 870.6% in the fourth quarter. Wolverine Asset Management LLC now owns 162,771 shares of the business services provider’s stock valued at $13,121,000 after buying an additional 146,000 shares in the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Avis Budget Group news, Director Lynn Krominga sold 661 shares of Avis Budget Group stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $95.00, for a total transaction of $62,795.00. Following the completion of the transaction, the director now directly owns 3,355 shares of the company’s stock, valued at $318,725. The trade was a 16.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 52.00% of the company’s stock.

Avis Budget Group Trading Down 1.7 %

Shares of CAR opened at $69.68 on Friday. The company’s fifty day simple moving average is $75.03 and its 200 day simple moving average is $84.96. Avis Budget Group, Inc. has a 1-year low of $54.03 and a 1-year high of $132.25. The company 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 (NASDAQ:CAR) last released its quarterly earnings data on Tuesday, February 11th. The business services provider reported ($0.23) earnings per share for the quarter, topping 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, research analysts forecast that Avis Budget Group, Inc. will post 8.91 earnings per share for the current year.

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.