Avis Budget Group, Inc. $CAR Shares Acquired by Amundi

Key Points

• Amundi increased its Avis Budget Group stake by 218.6% in the second quarter, owning 247,987 shares valued at approximately $36.7 million. Institutional investors and hedge funds collectively hold 96.35% of CAR’s shares.
• Analyst sentiment remains cautious: Avis Budget Group has a consensus “Reduce” rating, with six Hold ratings and three Sell ratings and an average price target of $135.57.
• Shares opened at $126.74 after declining 4.4%, while the company’s latest quarterly results missed expectations, reporting $0.98 in adjusted earnings per share versus a $2.05 consensus estimate and revenue of $3.0 billion.

Amundi grew its position in shares of Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 218.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 247,987 shares of the business services provider's stock after purchasing an additional 170,162 shares during the quarter. Amundi owned approximately 0.70% of Avis Budget Group worth $36,660,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CAR. MUFG Securities EMEA plc purchased a new position in Avis Budget Group during the fourth quarter valued at $25,664,000. Jefferies Financial Group Inc. purchased a new stake in shares of Avis Budget Group during the fourth quarter worth about $2,181,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Avis Budget Group by 47,007.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 170,999 shares of the business services provider's stock worth $21,943,000 after purchasing an additional 170,636 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Avis Budget Group by 5.0% during the first quarter. Dimensional Fund Advisors LP now owns 356,900 shares of the business services provider's stock worth $52,036,000 after purchasing an additional 17,074 shares in the last quarter. Finally, Cibc World Market Inc. raised its position in shares of Avis Budget Group by 75.0% during the 4th quarter. Cibc World Market Inc. now owns 700,005 shares of the business services provider's stock worth $89,825,000 after purchasing an additional 300,000 shares during the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Avis Budget Group

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

• Neutral Sentiment: Several law firms, including Levi & Korsinsky and Kaplan Fox, announced or highlighted pending investor lawsuits involving Avis securities. The notices primarily repeat the same case information and September 29, 2026 deadline rather than announce a new operational or financial development. Levi & Korsinsky shareholder alert
• Negative Sentiment: The lawsuits allege that Pentwater Capital Management and CEO Matthew Halbower helped drive Avis shares more than 400% higher before selling approximately 4.3 million shares over two trading sessions. Plaintiffs are examining whether SEC filings adequately disclosed Pentwater’s trading intentions, potentially leaving investors exposed to the subsequent selloff. SueWallSt Avis lawsuit notice
• Negative Sentiment: Bronstein, Gewirtz & Grossman, Pomerantz, Bernstein Liebhard, Rosen, ClaimsFiler and other firms issued additional investor alerts regarding the class action. The unusually high volume of legal notices reinforces the headline risk surrounding Avis and could weigh on investor sentiment. Bronstein investor alert

Wall Street Analysts Forecast Growth

CAR has been the topic of a number of research analyst reports. Wall Street Zen lowered Avis Budget Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Barclays set a $160.00 price objective on Avis Budget Group and gave the company an "equal weight" rating in a research note on Monday, June 8th. Zacks Research upgraded Avis Budget Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 1st. The Goldman Sachs Group lifted their target price on shares of Avis Budget Group from $85.00 to $95.00 and gave the stock a "sell" rating in a research note on Friday, July 24th. Finally, JPMorgan Chase & Co. upped their target price on shares of Avis Budget Group from $155.00 to $170.00 and gave the stock an "underweight" rating in a report on Tuesday, June 23rd. Six analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Avis Budget Group currently has a consensus rating of "Reduce" and an average price target of $135.57.

Avis Budget Group Trading Down 4.4%

Shares of CAR opened at $126.74 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 50-day moving average price of $147.44 and a 200 day moving average price of $171.74. The firm has a market capitalization of $4.48 billion, a P/E ratio of -6.98 and a beta of 1.91.

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

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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