Avis Budget Group, Inc. $CAR Stock Position Trimmed by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Avis Budget Group position by 88.5% in the second quarter, selling 279,267 shares and retaining 36,288 shares worth approximately $5.4 million. Institutional investors still own 96.35% of the company.
• Analyst sentiment remains weak: five analysts rate CAR “Hold” and five rate it “Sell,” producing a consensus “Reduce” rating with an average price target of $132.75.
• Avis reported quarterly EPS of $0.98, missing the $2.05 consensus estimate, while revenue of $3.0 billion fell short of expectations and declined 1.3% year over year. Shares opened at $139.58, below both their 50-day and 200-day moving averages.

Assenagon Asset Management S.A. lowered its position in Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 88.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,288 shares of the business services provider's stock after selling 279,267 shares during the quarter. Assenagon Asset Management S.A. owned about 0.10% of Avis Budget Group worth $5,364,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Empowered Funds LLC grew its stake in shares of Avis Budget Group by 30.8% in the first quarter. Empowered Funds LLC now owns 4,471 shares of the business services provider's stock worth $652,000 after purchasing an additional 1,054 shares in the last quarter. Parallel Advisors LLC increased its stake in Avis Budget Group by 11.6% during the 1st quarter. Parallel Advisors LLC now owns 587 shares of the business services provider's stock valued at $86,000 after buying an additional 61 shares during the period. California State Teachers Retirement System lifted its position in Avis Budget Group by 30.8% in the first quarter. California State Teachers Retirement System now owns 21,481 shares of the business services provider's stock worth $3,133,000 after purchasing an additional 5,055 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Avis Budget Group by 1.0% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 180,400 shares of the business services provider's stock valued at $26,311,000 after purchasing an additional 1,700 shares during the period. Finally, Mizuho Markets Americas LLC increased its position in shares of Avis Budget Group by 7.4% during the 1st quarter. Mizuho Markets Americas LLC now owns 400,000 shares of the business services provider's stock valued at $58,340,000 after purchasing an additional 27,500 shares during the period. Institutional investors own 96.35% of the company's stock.

Analyst Ratings Changes

CAR has been the topic of a number of recent research reports. Jefferies Financial Group cut Avis Budget Group from a "buy" rating to a "hold" rating and lifted their target price for the stock from $112.00 to $160.00 in a report on Friday, May 1st. Zacks Research lowered Avis Budget Group from a "hold" rating to a "strong sell" rating in a research report on Monday, August 3rd. 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 shares of Avis Budget Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Finally, Susquehanna raised their target price on shares of Avis Budget Group from $105.00 to $140.00 and gave the company a "neutral" rating in a research note on Friday, May 8th. Five research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average target price of $132.75.

Avis Budget Group Stock Down 0.8%

Shares of CAR opened at $139.58 on Thursday. The stock's 50-day moving average price is $162.91 and its 200 day moving average price is $168.25. The firm has a market capitalization of $4.93 billion, a price-to-earnings ratio of -7.68 and a beta of 1.92. Avis Budget Group, Inc. has a 12-month low of $85.96 and a 12-month high of $847.70.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last announced 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 business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.10 billion. The company's revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 EPS. Equities research analysts expect that Avis Budget Group, Inc. will post 1.69 EPS for the current year.

More Avis Budget Group News

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

• Negative Sentiment: The lawsuit, filed in federal court, alleges that Pentwater Capital Management and founder Matthew Halbower violated U.S. securities laws through alleged market manipulation and misleading statements related to Avis’s stock, including claims involving a short squeeze. Investors who purchased or acquired Avis securities between February 20, 2025, and April 21, 2026—including shares bought to cover short positions—may be included. Pomerantz class action announcement
• Negative Sentiment: Several firms, including Rosen, Kaplan Fox, Bernstein Liebhard, Kahn Swick & Foti, Levi & Korsinsky, and The Gross Law Firm, are soliciting affected investors. The repeated announcements increase visibility around the allegations and could reinforce concerns about potential litigation costs, damages, reputational harm, and management distraction for Avis. Rosen investor notice
• Neutral Sentiment: The September 29 deadline is primarily a procedural step for investors seeking lead-plaintiff status; it does not establish that Avis or Pentwater is liable. The financial impact remains uncertain because the case is ongoing.
• Negative Sentiment: Separately, Avis’s latest reported quarter missed analyst expectations on both earnings and revenue, while revenue declined year over year. That weaker operating performance adds to the stock’s near-term pressure alongside the litigation headlines.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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