2,513,300 Shares in Avis Budget Group, Inc. $CAR Acquired by Pentwater Capital Management LP

Pentwater Capital Management LP bought a new position in Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,513,300 shares of the business services provider's stock, valued at approximately $371,541,000. Avis Budget Group accounts for about 2.3% of Pentwater Capital Management LP's investment portfolio, making the stock its 8th largest holding. Pentwater Capital Management LP owned approximately 7.11% of Avis Budget Group as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Bank of America Corp DE bought a new position in Avis Budget Group during the second quarter valued at about $13,348,000. Freestone Grove Partners LP bought a new stake in Avis Budget Group in the second quarter worth about $145,000. Man Group plc bought a new stake in Avis Budget Group in the second quarter worth about $5,786,000. Jupiter Topco LLC acquired a new stake in Avis Budget Group in the 2nd quarter valued at about $672,000. Finally, Hsbc Holdings PLC acquired a new stake in Avis Budget Group in the 2nd quarter valued at about $247,773,000. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Avis Budget Group Price Performance

Shares of CAR opened at $144.00 on Thursday. The company has a market capitalization of $5.09 billion, a price-to-earnings ratio of -7.93 and a beta of 1.92. Avis Budget Group, Inc. has a fifty-two week low of $85.96 and a fifty-two week high of $847.70. The business's 50-day moving average is $154.67 and its 200-day moving average is $169.98.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The business services provider reported $0.98 EPS for the quarter, missing analysts' consensus estimates of $2.05 by ($1.07). The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the previous year, the firm earned $0.10 EPS. The business's revenue for the quarter was down 1.3% compared to the same quarter last year. Equities research analysts expect that Avis Budget Group, Inc. will post 1.36 earnings per share for the current fiscal year.

Key Headlines Impacting Avis Budget Group

Here are the key news stories impacting Avis Budget Group this week:

• Neutral Sentiment: Investors who purchased or acquired CAR securities—including shares bought to cover short positions—between February 20, 2025, and April 21, 2026, have been notified of a September 29, 2026, deadline to seek appointment as lead plaintiff. Rosen Law Firm investor deadline announcement
• Negative Sentiment: The lawsuit alleges that Pentwater Capital Management LP and CEO Matthew Halbower helped drive Avis shares up more than 400% before selling approximately 4.3 million shares over two trading days. The case seeks damages under federal securities laws and could increase legal, reputational, and market-confidence risks surrounding CAR. Levi and Korsinsky class action announcement
• Negative Sentiment: Several firms, including Bernstein Liebhard, Kaplan Fox, Pomerantz, Rosen, and Kahn Swick & Foti, issued substantially similar alerts within the past two days. Although the claims primarily target Pentwater and its executives rather than Avis itself, the repeated announcements keep the alleged trading activity and potential investor losses in focus. Bernstein Liebhard shareholder alert
• Negative Sentiment: The legal overhang follows Avis’s latest quarterly results, in which EPS of $0.98 missed the $2.05 consensus estimate and revenue of approximately $3.0 billion fell short of expectations and declined year over year. This combination of earnings pressure and litigation-related uncertainty provides a negative backdrop for CAR.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CAR. Susquehanna lifted their price objective on shares of Avis Budget Group from $105.00 to $140.00 and gave the stock a "neutral" rating in a research note on Friday, May 8th. Barclays set a $160.00 target price on shares of Avis Budget Group and gave the stock an "equal weight" rating in a report on Monday, June 8th. Jefferies Financial Group lowered shares of Avis Budget Group from a "buy" rating to a "hold" rating and lifted their price target for the stock from $112.00 to $160.00 in a research report on Friday, May 1st. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $125.00 price target on shares of Avis Budget Group in a report on Friday, May 1st. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Avis Budget Group in a research note on Monday, August 17th. Five analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus target price of $135.57.

Avis Budget Group Company Profile

Avis Budget Group, Inc operates as a leading global provider of vehicle rental and mobility solutions. Through its two core brands, Avis® and Budget®, the company offers a broad range of rental options including daily, weekly and monthly car rentals for leisure and business travelers. In addition to traditional airport and off-airport car rental services, Avis Budget Group delivers innovative mobility platforms such as car-sharing programs and connected fleet solutions designed to meet the evolving needs of corporate, government and individual customers.

The company's roots trace back to Avis Rent a Car, founded in 1946, and Budget Rent a Car, established in 1958.

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