Finance

Keep Your Eyes on Stock News: Avis Budget Group (NASDAQ:CAR)

Avis Budget Group (NASDAQ:CAR) stock identified change of 73.09% away from 52-week low price and recently located move of -0.88% off 52-week high price. It has market worth of $3.06B . CAR stock has been recorded 22.47% away from 50 day moving average and 31.14% away from 200 day moving average. Moving closer, we can see that shares have been trading 17.09% off 20-day moving average.

On Feb.10, 2020, Avis Budget Group (NASDAQ:CAR) revealed that Bernardo Hees has been appointed to the Company’s Board of Directors (the Board) and named Independent Chairman of the Board and Chair of the Board’s Executive Committee, effective immediately. Over the last 15 years, Mr. Hees has served as CEO of The Kraft Heinz Company, Burger King Worldwide Holdings, and America Latina Logistica. He succeeds Independent Chairman Leonard Coleman, who will continue as a Director. Mr. Coleman has been a long-standing member of the Board and has provided continuity of leadership during a period of significant change in the company.

Lynn Krominga, Director and Governance Chair of the Avis Board, stated, We are extremely pleased to welcome Bernardo to the Board. He is a proven executive who has led some of the world’s leading consumer brands and has a successful track record in transportation and logistics. We are confident his experience and expertise will benefit Avis as we seek to maximize value for all its stakeholders.

I am honored to serve as the next Chairman of Avis Budget Group, said Mr. Hees. With its iconic brands, irreplaceable physical assets, and fleet management expertise across its 30,000 employees, Avis is well positioned to take advantage of the evolving mobility ecosystem. I believe there is substantial opportunity to create shareholder value and am excited to work with the Board, the CEO, and the management team to drive Avis forward.

Mr. Hees is making a personal investment of $15 million in Avis shares to align his interests with those of all shareholders. The shares will be issued at the closing price of Avis common stock on February 7, 2020.

The Services sector company, Avis Budget Group noticed change of -0.43% to $41.3 along volume of 629379 shares in recent session compared to an average volume of 973.35K shares. The stock observed return of 18.44% in 5 days trading activity. The stock was at 15.27% over one month performance. CAR’s shares are at 38.59% for the quarter and driving a 47.39% return over the course of the past year and is now at 28.10% since this point in 2018.

The average volatility for the week at 4.93% and for month was at 3.72%. There are 74.15M shares outstanding and 72.49M shares are floated in market. Right now the stock beta is 2.19.

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