54,100 Shares in Avis Budget Group, Inc. $CAR Purchased by Hennessy Advisors Inc.

Key Points

• Hennessy Advisors acquired 54,100 Avis Budget Group shares worth approximately $8.0 million, representing about 0.15% of the company. Institutional investors and hedge funds collectively own 96.35% of CAR.
• Avis reported disappointing quarterly results, with EPS of $0.98 versus the $2.05 consensus estimate and revenue of roughly $3.0 billion, down 1.3% year over year. Analysts expect full-year EPS of approximately $1.36.
• Investor sentiment remains cautious amid securities litigation notices, earnings concerns and high share-price volatility. Analysts give CAR a consensus “Reduce” rating, with an average price target of $135.57.

Hennessy Advisors Inc. acquired a new stake in Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 54,100 shares of the business services provider's stock, valued at approximately $7,998,000. Hennessy Advisors Inc. owned about 0.15% of Avis Budget Group as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pentwater Capital Management LP bought a new position in Avis Budget Group in the 2nd quarter worth about $371,541,000. Hsbc Holdings PLC bought a new stake in shares of Avis Budget Group during the second quarter valued at approximately $247,773,000. BlackRock Inc. acquired a new position in shares of Avis Budget Group during the second quarter worth approximately $245,413,000. Morgan Stanley boosted its position in shares of Avis Budget Group by 38.1% during the fourth quarter. Morgan Stanley now owns 1,975,675 shares of the business services provider's stock worth $253,519,000 after buying an additional 545,574 shares during the period. Finally, Cibc World Market Inc. bought a new position in Avis Budget Group in the 2nd quarter worth approximately $73,915,000. 96.35% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Avis Budget Group

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

• Neutral Sentiment: Several law firms reminded Avis investors that September 29, 2026 is the deadline to seek appointment as lead plaintiff in a securities class action. The notices are largely procedural and encourage investors with losses to contact counsel. Some filings identify the class period as February 20, 2025–April 21, 2026, while another notice cites February 20, 2026–April 21, 2026. Avis Budget Group class action deadline notice
• Negative Sentiment: The lawsuit alleges violations of federal securities laws by Pentwater Capital Management and its founder and chief investment officer, Matthew Halbower, in connection with reported ownership of Avis shares and call options before a sharp decline in Avis stock. Although the principal defendants named in the notices are Pentwater and Halbower rather than Avis itself, the litigation creates legal, reputational, and investor-confidence overhang for CAR. The allegations have not been proven. Pomerantz Avis class action filing
• Negative Sentiment: Recent earnings momentum is also weighing on the stock. Avis reported quarterly EPS of $0.98, missing the $2.05 consensus estimate, while revenue of approximately $3.0 billion fell short of the $3.1 billion forecast and declined 1.3% year over year. Analysts expect only $1.36 in full-year EPS, reinforcing concerns about profitability and operating conditions. Why Avis Budget is down since earnings
• Negative Sentiment: GuruFocus estimated Avis’s GF Value at $129.16 versus a recent reference price of $139.49, suggesting the shares may still appear overvalued despite their substantial decline and high volatility. GuruFocus Avis valuation analysis

Wall Street Analyst Weigh In

CAR has been the topic of several recent analyst reports. Morgan Stanley lifted their target price on Avis Budget Group from $97.00 to $99.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 20th. Wall Street Zen cut Avis Budget Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. JPMorgan Chase & Co. raised their price target on Avis Budget Group from $155.00 to $170.00 and gave the company an "underweight" rating in a report on Tuesday, June 23rd. Barclays set a $160.00 price objective on shares of Avis Budget Group and gave the company an "equal weight" rating in a research note on Monday, June 8th. Finally, Susquehanna upped their price objective on shares of Avis Budget Group from $105.00 to $140.00 and gave the stock a "neutral" rating in a report on Friday, May 8th. Five analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $135.57.

Avis Budget Group Price Performance

NASDAQ CAR opened at $138.12 on Friday. Avis Budget Group, Inc. has a 12 month low of $85.96 and a 12 month high of $847.70. The firm has a market capitalization of $4.88 billion, a PE ratio of -7.60 and a beta of 1.92. The company's 50 day simple moving average is $152.67 and its 200 day simple moving average is $169.89.

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

About Avis Budget Group

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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