CAR Avis Budget Group, Inc.

Avis Budget Group, Inc. engages in the provision of vehicle sharing and rental services. It operates through the Americas and International segments. The Americas segment licenses the company's brands to third parties for vehicle rentals and and ancillary products and services in North America, South America, Central America, and the Caribbean. The International segment leases out vehicles in Europe, the Middle East, Africa, Asia, and Australasia. The company was founded by Warren E. Avis in 1946 and is headquartered in Parsippany, NJ.

Company profile

Ticker

CAR

Exchange

NASDAQ

Website

www.avisbudgetgroup.com

CEO

Joseph A. Ferraro

Incorporated in

Delaware

Location

New Jersey

Fiscal year end

Dec 31

Sector

Finance > Finance/Rental/Leasing

Industry (SEC)

Services - Auto Rental & Leasing (No Drivers)

Hertz • Ryder System • Hertz Global • SP Plus • Amerco • HyreCar • eHi Car Services ...

Former names

Cendant Corp, Cuc International Inc

SEC CIK

0000723612

Corporate docs

Articles of Incorporation & Bylaws

IRS number

60918165

CAR stock data

S&P 500

1M 1Y 2Y 5Y

Calendar

1 May 20

14 Jul 20

31 Dec 20

News

Company financial data Financial data

Chart CAR financial data

Quarter (USD)	Mar 20	Dec 19	Sep 19	Jun 19
Revenue	1.75B	2.16B	2.75B	2.34B
Net income	-158M	142M	189M	62M
Diluted EPS
Net profit margin	-9.01%	6.57%	6.87%	2.65%
Net change in cash	-7M	71M	81M	-6M
Cash on hand	679M	686M	615M	534M

Annual (USD)	Dec 19	Dec 18	Dec 17	Dec 16
Revenue	9.17B	9.12B	8.85B	8.66B
Net income	302M	165M	361M	163M
Net profit margin	3.29%	1.81%	4.08%	1.88%
Net change in cash	71M	4M	121M	38M
Cash on hand	686M	615M	611M	490M

Financial data from Avis Budget earnings reports

Recent insider trades

CAR insider ownership history Insider history

Date	Owner	Security	Transaction	Code	10b5-1	$Price	#Shares	$Value	#Remaining
2 Jul 20	Joseph A. Ferraro	RSU Common Stock	Option exercise	Dispose M	No	0	3,750	0	3,751
2 Jul 20	Izilda P Martins	Common Stock	Payment of exercise	Dispose F	No	25.92	355	9.2K	5,665
2 Jul 20	Izilda P Martins	RSU Common Stock	Option exercise	Dispose M	No	0	900	0	900
2 Jul 20	Joseph A. Ferraro	Common Stock	Payment of exercise	Dispose F	No	25.92	1,837	47.62K	103,206
2 Jul 20	Joseph A. Ferraro	Common Stock	Option exercise	Aquire M	No	0	3,750	0	105,043
2 Jul 20	Izilda P Martins	Common Stock	Option exercise	Aquire M	No	0	900	0	6,020
30 Jun 20	Bernardo Hees	RSU Common Stock	Grant	Aquire A	No	0	37,500	0	37,500
30 Jun 20	Bernardo Hees	RSU Common Stock	Grant	Aquire A	No	0	65,531	0	65,531
30 Jun 20	Bernardo Hees	RSU Common Stock	Grant	Aquire A	No	0	43,687	0	43,687
1 Jun 20	Izilda P Martins	RSU Common Stock	Grant	Aquire A	No	0	1,800	0	1,800

Data from 3, 4 and 5 filings. Stock values as filed, not updated for current price.

Institutional ownership Q1 2020

CAR institutional ownership history Ownership history

13F holders	Current	Prev Q	Change
Total holders	205	229	-10.5%
Opened positions	42	33	+27.3%
Closed positions	66	27	+144.4%
Increased positions	56	56	–
Reduced positions	65	94	-30.9%

13F shares	Current	Prev Q	Change
Total value	1.05B	3.14B	-66.5%
Total shares	75.78M	77.42M	-2.1%
Total puts	5.33M	4.66M	+14.3%
Total calls	2.61M	1.39M	+87.7%
Total put/call ratio	2.0	3.4	-39.1%

Largest owners	Shares	Value	Change
SRS Investment Management	16.19M	$225.03M	0.0%
BLK BlackRock	6.86M	$95.3M	-4.4%
Vanguard	5.7M	$79.26M	-2.4%
NMR Nomura	3.84M	$53.44M	+16.1%
PZN Pzena Investment Management	3.83M	$53.22M	-13.5%
Glenview Capital Management	3.34M	$46.49M	-53.5%
FRLG Goldman Sachs	3.09M	$42.91M	+605.3%
Lyrical Asset Management	2.98M	$41.42M	-8.0%
Aqr Capital Management	2.43M	$33.81M	+551.9%
STT State Street	2.06M	$28.61M	+0.9%

Largest transactions	Shares	Bought/sold	Change
Glenview Capital Management	3.34M	-3.85M	-53.5%
FRLG Goldman Sachs	3.09M	+2.65M	+605.3%
Aqr Capital Management	2.43M	+2.06M	+551.9%
Renaissance Technologies	1.89M	-1.56M	-45.2%
JEF Jefferies	0	-1M	EXIT
Assenagon Asset Management	743.57K	+743.57K	NEW
Susquehanna International	646.05K	+638.85K	+8863.0%
Norges Bank	0	-613.23K	EXIT
PZN Pzena Investment Management	3.83M	-599.87K	-13.5%
NMR Nomura	3.84M	+531.5K	+16.1%

Data from 13F filings. Stock values as filed, not updated for current price. Long positions only.

Financial report summary

Competition

Hertz • Alamo • Thrifty • Enterprise • LYFT

Risks

COVID-19 has disrupted, and may continue to disrupt, our business and financial performance.
We may not realize any or all of our estimated cost savings, which may have a negative effect on our results of operations.
We are dependent on a functioning used vehicle market and highly exposed to residual value risk in the event that vehicle prices decline, which may both be exacerbated by COVID-19.
Earnings for future periods may be impacted by impairment charges for goodwill and intangible assets.

Content analysis ?

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. sophomore Avg

New words: ABS, absence, adequacy, aggressively, alternative, amplified, appellate, appointed, appointment, assurance, assure, assured, attempt, attempting, attractive, broader, burden, canceled, casualty, certainty, Chairman, choose, clean, cleaning, confluence, correct, Counsel, counteract, covenant, decline, declining, default, delivery, depressed, desire, deterioration, detrimental, difficult, difficulty, disclosed, discretionary, distancing, downgrade, downgraded, duration, enable, exacerbated, experience, experienced, extent, extreme, fewer, field, fire, Florida, fluid, foregoing, froze, functioning, fundamentally, furlough, furloughed, globe, health, heightening, hiring, holiday, housing, hygiene, idle, increasingly, inventory, Issuer, length, lifted, light, local, long, lost, lot, LVOP, magnitude, merit, Michael, Moody, national, negated, negotiate, negotiated, outbreak, outlined, overflow, pace, parked, parking, people, petition, previously, prolonged, rapidly, recover, recovery, refinance, refresh, registered, Registrant, relationship, relief, removal, remove, removing, rendered, Reservation, respond, resume, retail, reversal, review, sanitize, sanitizing, saving, SEC, securitization, sentiment, sharp, shrink, similarly, simplified, simplify, Simplifying, situation, slowdown, social, Southwest, speed, spend, spending, spread, staffing, stimulate, subside, suggest, summer, Supreme, sustain, sustained, thereunder, traditional, treated, Tucker, unamortized, unemployment, unexpected, unintended, unregistered, unusual, vice, voluntary, waive, waiver, weekend, weighed, wholesale, worsening, write

Removed: accounted, adjust, allocated, appealing, apply, approach, arising, assessed, attribution, automobile, awarded, bear, book, charged, chauffeur, child, classification, clearance, collection, collision, combine, commencement, companion, concurrent, consolidate, continued, convenience, core, counterbalanced, deficit, delivering, drawn, electronic, elimination, ending, enhance, evenly, evolve, exceed, exercise, exercised, expedient, expired, hindsight, identical, implicit, imposed, inception, intended, intrinsic, invested, lessee, lessor, licensing, macroeconomic, maintenance, managing, membership, mileage, mitigate, Morini, moving, navigation, noncancelable, Nonemployee, nonlease, nonrefundable, obligor, option, outplacement, pattern, planning, portable, portfolio, practical, prepaid, radio, ratably, receive, recognize, regional, relieved, resulted, roadside, routinely, safety, satellite, seasonality, seat, seek, September, stabilized, strategic, strongest, structure, support, tablet, Targeted, toll, towing, transfer, transition, Turiscar, turn, uncommitted, unsupported, utilized, variability, vi

From filing 10-Q 2020 Q1