Invesco Ltd. Grows Stock Holdings in Avis Budget Group, Inc. (NASDAQ:CAR)

Invesco Ltd. grew its stake in Avis Budget Group, Inc. (NASDAQ:CAR) by 9.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 148,972 shares of the business services provider’s stock after purchasing an additional 12,440 shares during the period. Invesco Ltd. owned approximately 0.42% of Avis Budget Group worth $12,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in CAR. Federated Hermes Inc. boosted its stake in Avis Budget Group by 6,220.8% during the fourth quarter. Federated Hermes Inc. now owns 3,034 shares of the business services provider’s stock worth $245,000 after buying an additional 2,986 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Avis Budget Group during the 4th quarter valued at about $25,000. Quadrant Capital Group LLC grew 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 valued at $55,000 after purchasing an additional 198 shares during the period. Bryce Point Capital LLC purchased a new position in Avis Budget Group during the fourth quarter worth about $464,000. Finally, Headlands Technologies LLC boosted its holdings in Avis Budget Group by 38.1% in the 4th quarter. Headlands Technologies LLC now owns 6,869 shares of the business services provider’s stock valued at $554,000 after purchasing an additional 1,895 shares during the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

Avis Budget Group Stock Performance

CAR stock opened at $80.66 on Tuesday. The firm has a market cap of $2.84 billion, a PE ratio of -1.56 and a beta of 2.05. Avis Budget Group, Inc. has a one year low of $54.03 and a one year high of $132.25. The firm’s 50 day moving average price is $73.71 and its 200-day moving average price is $84.56.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings results 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 return on equity of 14.74% and a negative net margin of 15.45%. Equities research analysts predict that Avis Budget Group, Inc. will post 8.91 EPS for the current fiscal year.

Insider Activity at Avis Budget Group

In other news, Director Lynn Krominga sold 1,405 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $95.00, for a total transaction of $133,475.00. Following the sale, the director now owns 1,950 shares of the company’s stock, valued at approximately $185,250. This represents a 41.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 52.80% of the stock is owned by insiders.

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.