market folly

John Griffin's hedge fund firm Blue Ridge Capital has filed a 13G with the SEC regarding shares of Avis Budget Group (CAR).  Per the filing, Blue Ridge now owns 6.17% of the company with 6,613,700 shares.

This marks a 56% increase in their position size since the end of the third quarter.  The filing was required due to activity on November 13th.

Last week, our premium Hedge Fund Wisdom newsletter drew attention to the fact that Blue Ridge had been increasing its stake in CAR in Q3, and now they've acquired even more shares in Q4.  Additionally, CAR was analyzed in the Q2 issue of our newsletter and new subscribers can access that as well.

Per Google Finance, Avis Budget Group "operates two brands in the global vehicle rental industry through Avis and Budget. Avis is a rental car supplier positioned to serve the commercial and leisure segments of the travel industry and Budget is a rental car supplier focused primarily on more value-conscious segments of the industry. It operates in three segments: North America, consisting of its Avis and Budget car rental operations in the United States and its Avis and Budget vehicle rental operations in Canada; International, consisting of its Avis and Budget vehicle rental operations in Europe, the Middle East, Asia, Africa, South America, central America, the Caribbean, Australia and New Zealand, and Truck Rental, consisting of its Budget truck rental operations in the United States."