Here’s Who Picked Up Avis Budget Group Inc. (NASDAQ:CAR) Shares

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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Avis Budget Group Inc. (NASDAQ:CAR)  reported that SRS Investment Management has picked up 8,500,000 of common stock as of 2017-05-04.

The acquisition brings the aggregate amount owned by SRS Investment Management to a total of 8,500,000 representing less than 9.9% stake in the company.

For those not familiar with the company, Avis Budget Group Inc. is a provider of vehicle rental and car sharing services. The Company operates three brands, which include Avis, Budget and Zipcar. Avis and Budget are a rental car supplier. It also owns Payless, which a car rental brand; Apex, which is a car rental brand in New Zealand and Australia; Maggiore, a vehicle rental brand in Italy, and France Cars, which operates light commercial vehicle fleets in France. The Company operates in two segments: Americas and International. The Americas segment provides and licenses the Company’s brands to third parties for vehicle rentals and ancillary products and services in North America, South America, Central America and the Caribbean, and operates its car sharing business in certain of these markets. The International segment provides and licenses the Company’s brands to third parties for vehicle rentals and ancillary products and services in Europe, the Middle East, Africa, Asia, Australia and New Zealand.

A glance at Avis Budget Group Inc. (NASDAQ:CAR)’s key stats reveals a current market capitalization of 2.45 Billion based on 85.45 Million shares outstanding and a price at last close of $29.12 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2016-05-17, Servodidio picked up 1,900 at a purchase price of $26.26. This brings their total holding to 91,325 as of the date of the filing.

On the sell side, the most recent transaction saw Hardy unload 870 shares at a sale price of $34.16. This brings their total holding to 0.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Avis Budget Group Inc. (NASDAQ:CAR). as things move forward to see if its progress aligns with these transactions.

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