Deutsche Bank AG acquired a new position in shares of Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 34,258 shares of the business services provider's stock, valued at approximately $5,064,000. Deutsche Bank AG owned approximately 0.10% of Avis Budget Group at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in CAR. Caitong International Asset Management Co. Ltd increased its holdings in shares of 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 buying an additional 203 shares in the last quarter. Quarry LP bought a new stake in shares of Avis Budget Group during the fourth quarter worth about $27,000. Basepoint Wealth LLC bought a new stake in shares of Avis Budget Group during the fourth quarter worth about $32,000. Hollencrest Capital Management acquired a new position in shares of Avis Budget Group in the first quarter valued at approximately $44,000. Finally, Hantz Financial Services Inc. increased its stake in shares of Avis Budget Group by 70.4% in the fourth quarter. Hantz Financial Services Inc. now owns 431 shares of the business services provider's stock valued at $55,000 after buying an additional 178 shares during the period. Institutional investors own 96.35% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $125.00 target price on shares of Avis Budget Group in a report on Friday, May 1st. Zacks Research downgraded Avis Budget Group from a "hold" rating to a "strong sell" rating in a report on Monday, August 3rd. JPMorgan Chase & Co. upped their target price on Avis Budget Group from $155.00 to $170.00 and gave the company an "underweight" rating in a report on Tuesday, June 23rd. Susquehanna increased 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 report on Friday, May 8th. Finally, Morgan Stanley raised their price target on shares of Avis Budget Group from $97.00 to $99.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 20th. Five investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, Avis Budget Group currently has an average rating of "Reduce" and an average target price of $135.57.
Check Out Our Latest Analysis on CAR
More Avis Budget Group News
Here are the key news stories impacting Avis Budget Group this week:
- Positive Sentiment: A recent analysis recommended holding Avis Budget Group, citing a 57.8% six-month gain, sustained rental demand, technology partnerships and share buybacks as potential growth supports. The analysis also acknowledged liquidity risks. Here's Why Investors Should Hold Avis Budget in Their Portfolios Now
- Neutral Sentiment: Multiple investor-rights firms reminded CAR investors of a September 29, 2026 deadline to seek appointment as lead plaintiff in the securities class action. The proposed class covers investors who bought Avis securities, including stock purchased to cover short positions, from February 20, 2025, through April 21, 2026. These announcements are largely duplicative legal notices and do not represent a new operating development for Avis. CAR Investors Have Opportunity to Lead Avis Budget Group Securities Fraud Lawsuit
- Negative Sentiment: A class action filed in federal court alleges that Pentwater Capital Management built a 51% economic interest in Avis through shares and cash-settled swaps, then sold approximately 4.3 million shares over two trading days as CAR shares plunged. The lawsuit seeks damages under federal securities laws; although the allegations are unproven and directed primarily at Pentwater, the litigation highlights trading-related volatility and may weigh on investor sentiment toward Avis. Pomerantz Announces Avis Budget Group Investor Class Action
Avis Budget Group Stock Down 1.2%
Shares of CAR opened at $145.13 on Wednesday. The business's fifty day moving average is $155.41 and its 200 day moving average is $169.78. Avis Budget Group, Inc. has a 12-month low of $85.96 and a 12-month high of $847.70. The stock has a market cap of $5.13 billion, a P/E ratio of -7.99 and a beta of 1.92.
Avis Budget Group (NASDAQ:CAR - Get Free Report) last released 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. The company's revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 EPS. On average, analysts expect that Avis Budget Group, Inc. will post 1.36 EPS for the current year.
Avis Budget Group Profile
(
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.
See Also
Want to see what other hedge funds are holding CAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avis Budget Group, Inc. (NASDAQ:CAR - Free Report).
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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