Karthik Sarma's hedge fund firm SRS Investment Management has filed an amended 13D with the SEC regarding its position in Avis Budget Group (CAR). Per the filing, SRS now owns 9.5% of CAR with 9 million shares.
The filing indicates they sold 500,000 shares on May 5th at $25.40. SRS previously owned 9.5 million shares at the end of the first quarter of 2016.
About SRS Investment Management
Prior to founding SRS, Karthik Sarma worked at Tiger Global. He started SRS in 2007 and has a large focus on international markets (particularly in India, China, etc) and typically invests in technology, media and other high-growth industries. SRS's latest 13F filing indicates they manage in excess of $2.7 billion and that doesn't include their foreign positions.
About Avis Budget Group
Per Google Finance, Avis Budget Group is "a provider of vehicle rental and car sharing services. The Company operates three brands, which include Avis, Budget and Zipcar. Avis is a rental car supplier and Budget is a rental vehicle supplier. It also owns Payless, which a car rental brand, and Apex, which is a car rental brand in New Zealand and Australia. It 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, South America, Central America, the Caribbean, Australia and New Zealand, and operates its car sharing business in certain of these markets.."
Monday, June 6, 2016
SRS Investment Management Reduces Avis Budget Stake
blog comments powered by Disqus
