Avis Budget Group, Inc. $CAR Shares Sold by Bank of America Corp DE

Key Points

• Bank of America reduced its Avis Budget Group stake by 3.4% in the first quarter, selling 50,254 shares and retaining 1.44 million shares worth approximately $210.6 million. Institutional investors collectively own 96.35% of the company.
• Analysts remain cautious, with six Hold ratings and four Sell ratings producing a consensus “Reduce” rating and an average price target of $132.75. Recent targets range from $125 to $160.
• Avis reported quarterly EPS of $0.98, well below the $2.05 consensus, while revenue fell 1.3% year over year to about $3.0 billion. Shares opened at $141.13, despite operational improvements including higher vehicle utilization and reaffirmed 2026 EBITDA guidance.

Bank of America Corp DE cut its stake in shares of Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,444,235 shares of the business services provider's stock after selling 50,254 shares during the period. Bank of America Corp DE owned approximately 4.09% of Avis Budget Group worth $210,642,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd grew its holdings in Avis Budget Group by 1,845.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 214 shares of the business services provider's stock worth $27,000 after acquiring an additional 203 shares during the period. Quarry LP purchased a new stake in Avis Budget Group during the fourth quarter worth about $27,000. Basepoint Wealth LLC acquired a new position in Avis Budget Group during the fourth quarter worth about $32,000. Hollencrest Capital Management acquired a new position in Avis Budget Group during the first quarter worth about $44,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Avis Budget Group by 26.5% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 363 shares of the business services provider's stock valued at $58,000 after buying an additional 76 shares in the last quarter. Institutional investors and hedge funds own 96.35% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $125.00 price target on shares of Avis Budget Group in a report on Friday, May 1st. Susquehanna boosted their target price on Avis Budget Group from $105.00 to $140.00 and gave the stock a "neutral" rating in a research report on Friday, May 8th. Weiss Ratings reissued a "sell (d-)" rating on shares of Avis Budget Group in a report on Wednesday, May 20th. Barclays set a $160.00 price target on Avis Budget Group and gave the company an "equal weight" rating in a research report on Monday, June 8th. Finally, Wall Street Zen downgraded Avis Budget Group from a "hold" rating to a "sell" rating in a research note on Saturday. Six equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $132.75.

Avis Budget Group Price Performance

Shares of Avis Budget Group stock opened at $141.13 on Wednesday. Avis Budget Group, Inc. has a 1 year low of $85.96 and a 1 year high of $847.70. The company has a market capitalization of $4.99 billion, a P/E ratio of -7.77 and a beta of 1.92. The business has a 50 day moving average price of $166.78 and a 200 day moving average price of $167.62.

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 (EPS) for the quarter, missing analysts' consensus estimates of $2.05 by ($1.07). The company had revenue of $3 billion during the quarter, compared to analysts' expectations of $3.10 billion. The business's quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.10 earnings per share. As a group, research analysts expect that Avis Budget Group, Inc. will post 1.69 EPS for the current fiscal year.

More Avis Budget Group News

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

• Positive Sentiment: Despite the earnings shortfall, Avis reported fleet reductions, record vehicle utilization and improved adjusted EBITDA, indicating that tighter fleet discipline is helping protect margins. Management also reaffirmed its 2026 EBITDA guidance. Q2 earnings analysis
• Neutral Sentiment: Analysts remain focused on whether efficiency gains can offset soft rental demand. Avis faces weak liquidity and high leverage, while its valuation remains elevated relative to its financial risks, suggesting a cautious investor outlook. Avis valuation analysis
• Negative Sentiment: Avis’s latest quarter increased concerns about demand and earnings. The company reported $0.98 in adjusted earnings per share versus a $2.05 consensus estimate, while revenue of approximately $3.0 billion missed the $3.10 billion forecast and declined 1.3% year over year. The stock has fallen sharply since the report, despite the operational improvements. Avis Q2 earnings miss
• Negative Sentiment: Several law firms announced or promoted a securities class action on behalf of Avis investors who purchased securities between February 20, 2025, and April 21, 2026. The lawsuit, filed in federal court in Florida, names Pentwater Capital Management and executive Matthew Halbower and alleges violations of federal securities laws. The litigation adds headline and legal uncertainty, although the allegations have not been proven. Investors face a September 29, 2026 application deadline in the related action. Pomerantz class action announcement

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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