Geode Capital Management LLC Sells 4,045 Shares of Avis Budget Group, Inc. (NASDAQ:CAR)

Geode Capital Management LLC cut its holdings in Avis Budget Group, Inc. (NASDAQ:CAR) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 314,977 shares of the business services provider’s stock after selling 4,045 shares during the period. Geode Capital Management LLC owned approximately 0.90% of Avis Budget Group worth $25,398,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CAR. National Bank of Canada FI grew its position in Avis Budget Group by 266.7% in the 4th quarter. National Bank of Canada FI now owns 330,000 shares of the business services provider’s stock valued at $26,601,000 after purchasing an additional 240,000 shares during the period. Norges Bank bought a new position in shares of Avis Budget Group during the 4th quarter worth approximately $11,234,000. WINTON GROUP Ltd grew its stake in Avis Budget Group by 130.2% in the 4th quarter. WINTON GROUP Ltd now owns 8,968 shares of the business services provider’s stock valued at $723,000 after purchasing an additional 5,073 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Avis Budget Group in the 4th quarter worth about $322,000. Finally, Virtu Financial LLC bought a new position in shares of Avis Budget Group during the 4th quarter valued at approximately $358,000. 96.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Avis Budget Group

In related news, Director Lynn Krominga sold 1,405 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 1,950 shares in the company, valued at $185,250. This represents a 41.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 52.80% of the stock is currently owned by corporate insiders.

Avis Budget Group Stock Up 16.4 %

NASDAQ CAR opened at $84.59 on Friday. The firm has a market cap of $2.98 billion, a P/E ratio of -1.63 and a beta of 2.05. The company’s 50 day moving average is $73.87 and its 200-day moving average is $84.63. Avis Budget Group, Inc. has a 12-month low of $54.03 and a 12-month high of $132.25.

Avis Budget Group (NASDAQ:CAR) last issued its earnings results on Tuesday, February 11th. The business services provider reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Equities analysts expect that Avis Budget Group, Inc. will post 8.91 EPS for the current year.

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.