Avis Budget Group, Inc. (NASDAQ:CAR) Shares Sold by Bank of Montreal Can

Bank of Montreal Can cut its stake in Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 96.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,549 shares of the business services provider's stock after selling 99,811 shares during the quarter. Bank of Montreal Can's holdings in Avis Budget Group were worth $286,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Barclays PLC increased its stake in Avis Budget Group by 30.5% in the third quarter. Barclays PLC now owns 200,576 shares of the business services provider's stock worth $17,571,000 after purchasing an additional 46,922 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in shares of Avis Budget Group during the third quarter valued at $263,000. GAMMA Investing LLC increased its stake in shares of Avis Budget Group by 118.8% during the fourth quarter. GAMMA Investing LLC now owns 337 shares of the business services provider's stock valued at $27,000 after buying an additional 183 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Avis Budget Group by 139.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 379,805 shares of the business services provider's stock valued at $30,616,000 after buying an additional 221,456 shares during the period. Finally, Diversify Advisory Services LLC purchased a new position in shares of Avis Budget Group during the fourth quarter valued at $254,000. 96.35% of the stock is currently owned by institutional investors.

Avis Budget Group Stock Performance

CAR traded down $1.82 on Tuesday, hitting $92.78. The company had a trading volume of 98,791 shares, compared to its average volume of 842,536. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of -1.79 and a beta of 2.05. The stock has a fifty day moving average price of $73.54 and a 200-day moving average price of $84.69. 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 - Get Free Report) last issued its quarterly earnings results 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 return on equity of 14.74% and a negative net margin of 15.45%. Analysts forecast that Avis Budget Group, Inc. will post 8.91 EPS for the current fiscal year.

Insiders Place Their Bets

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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 52.80% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Avis Budget Group from a "hold" rating to a "sell" rating in a research note on Friday. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $121.33.

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.