Renaissance Technologies LLC Takes $3.30 Million Position in Avis Budget Group, Inc. (NASDAQ:CAR)

Renaissance Technologies LLC bought a new position in shares of Avis Budget Group, Inc. (NASDAQ:CAR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 40,980 shares of the business services provider’s stock, valued at approximately $3,303,000. Renaissance Technologies LLC owned about 0.12% of Avis Budget Group at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Invesco Ltd. lifted its holdings in Avis Budget Group by 9.1% in the fourth quarter. Invesco Ltd. now owns 148,972 shares of the business services provider’s stock valued at $12,009,000 after acquiring an additional 12,440 shares during the period. Federated Hermes Inc. increased its holdings in shares of Avis Budget Group by 6,220.8% during the 4th quarter. Federated Hermes Inc. now owns 3,034 shares of the business services provider’s stock valued at $245,000 after purchasing an additional 2,986 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Avis Budget Group in the 4th quarter valued at $25,000. Quadrant Capital Group LLC lifted its stake in shares of Avis Budget Group by 41.0% in the 4th 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. Finally, Bryce Point Capital LLC purchased a new stake in Avis Budget Group during the fourth quarter worth $464,000. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Insider Transactions at Avis Budget Group

In other news, Director Lynn Krominga sold 1,405 shares of Avis Budget Group stock in a transaction dated 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 in the company, valued at $185,250. This trade 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 is available through this link. Corporate insiders own 52.80% of the company’s stock.

Avis Budget Group Stock Performance

CAR opened at $86.29 on Thursday. The company has a fifty day moving average of $73.57 and a two-hundred day moving average of $84.57. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of -1.67 and a beta of 2.05. Avis Budget Group, Inc. has a fifty-two week low of $54.03 and a fifty-two week high of $132.25.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings results on Tuesday, February 11th. The business services provider reported ($0.23) earnings per share for the quarter, beating 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%. On average, equities research analysts forecast that Avis Budget Group, Inc. will post 8.91 earnings per share 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.