BlackRock Inc. purchased a new position in Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,660,106 shares of the business services provider's stock, valued at approximately $245,413,000. BlackRock Inc. owned about 4.70% of Avis Budget Group at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CAR. Royal Bank of Canada lifted its stake in Avis Budget Group by 414.0% in the first quarter. Royal Bank of Canada now owns 17,860 shares of the business services provider's stock valued at $1,355,000 after buying an additional 14,385 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Avis Budget Group by 10.1% in the 1st quarter. Empowered Funds LLC now owns 3,749 shares of the business services provider's stock worth $285,000 after acquiring an additional 343 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Avis Budget Group by 16.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,023 shares of the business services provider's stock worth $4,935,000 after acquiring an additional 9,246 shares during the period. Prudential Financial Inc. bought a new stake in Avis Budget Group in the 2nd quarter valued at about $352,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Avis Budget Group by 19.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 427 shares of the business services provider's stock valued at $72,000 after purchasing an additional 70 shares during the period. Institutional investors and hedge funds own 96.35% of the company's stock.
Avis Budget Group Stock Performance
Shares of NASDAQ:CAR opened at $144.00 on Thursday. The company has a market cap of $5.09 billion, a PE ratio of -7.93 and a beta of 1.92. Avis Budget Group, Inc. has a 52 week low of $85.96 and a 52 week high of $847.70. The firm has a 50 day simple moving average of $154.67 and a 200 day simple moving average of $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 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 analysts' expectations of $3.10 billion. During the same quarter last year, the firm posted $0.10 EPS. The business's quarterly revenue was down 1.3% on a year-over-year basis. On average, equities analysts predict that Avis Budget Group, Inc. will post 1.36 earnings per share for the current year.
Trending Headlines about 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.
Analysts Set New Price Targets
CAR has been the subject of a number of recent analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Avis Budget Group in a report on Monday, August 17th. JPMorgan Chase & Co. increased their price target on Avis Budget Group from $155.00 to $170.00 and gave the stock an "underweight" rating in a research note on Tuesday, June 23rd. Jefferies Financial Group lowered Avis Budget Group from a "buy" rating to a "hold" rating and raised their price target for the company from $112.00 to $160.00 in a report on Friday, May 1st. 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, Zacks Research downgraded shares of Avis Budget Group from a "hold" rating to a "strong sell" rating in a report on Monday, August 3rd. Five research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, Avis Budget Group currently has an average rating of "Reduce" and an average target price of $135.57.
View Our Latest Stock Analysis on CAR
About Avis Budget Group
(
Free Report)
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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