CANADA LIFE ASSURANCE Co Sells 590 Shares of Avis Budget Group, Inc. (NASDAQ:CAR)

CANADA LIFE ASSURANCE Co lessened its stake in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 4.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,608 shares of the business services provider’s stock after selling 590 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Avis Budget Group were worth $936,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CAR. Barclays PLC raised 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 buying an additional 46,922 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in shares of Avis Budget Group in the third quarter worth about $263,000. GAMMA Investing LLC raised its stake in shares of Avis Budget Group by 118.8% in the fourth quarter. GAMMA Investing LLC now owns 337 shares of the business services provider’s stock worth $27,000 after purchasing an additional 183 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Avis Budget Group by 139.9% in the fourth 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 during the last quarter. Finally, Diversify Advisory Services LLC purchased a new position in Avis Budget Group during the fourth quarter valued at approximately $254,000. Institutional investors own 96.35% of the company’s stock.

Insider Activity

In related news, Director Lynn Krominga sold 1,405 shares of Avis Budget Group stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $95.00, for a total value of $133,475.00. Following the completion of the transaction, the director now owns 1,950 shares in the company, valued at $185,250. The trade was a 41.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 52.80% of the company’s stock.

Avis Budget Group Price Performance

Shares of NASDAQ:CAR opened at $94.60 on Tuesday. The business’s 50 day moving average price is $73.54 and its 200-day moving average price is $84.69. The firm has a market capitalization of $3.33 billion, a PE ratio of -1.83 and a beta of 2.05. Avis Budget Group, Inc. has a 1 year low of $54.03 and a 1 year high of $132.25.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Avis Budget Group from a “hold” rating to a “sell” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $121.33.

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.