Legal & General Group Plc acquired a new position in shares of Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 22,738 shares of the business services provider's stock, valued at approximately $3,361,000. Legal & General Group Plc owned about 0.06% of Avis Budget Group at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. MUFG Securities EMEA plc purchased a new stake in shares of Avis Budget Group in the fourth quarter worth approximately $25,664,000. Jefferies Financial Group Inc. acquired a new position in shares of Avis Budget Group in the 4th quarter worth approximately $2,181,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Avis Budget Group by 47,007.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 170,999 shares of the business services provider's stock valued at $21,943,000 after purchasing an additional 170,636 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Avis Budget Group by 5.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 356,900 shares of the business services provider's stock worth $52,036,000 after acquiring an additional 17,074 shares during the period. Finally, Cibc World Market Inc. raised its stake in 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 buying an additional 300,000 shares during the period. 96.35% of the stock is owned by institutional investors and hedge funds.
Avis Budget Group Trading Up 0.2%
CAR opened at $138.73 on Friday. The company's 50 day moving average is $149.07 and its 200 day moving average is $170.71. The company has a market cap of $4.90 billion, a price-to-earnings ratio of -7.64 and a beta of 1.91. 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 earnings results 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 for the quarter, compared to analyst estimates of $3.10 billion. The company's revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 earnings per share. As a group, analysts predict that Avis Budget Group, Inc. will post 1.36 EPS for the current fiscal year.
Key Avis Budget Group News
Here are the key news stories impacting Avis Budget Group this week:
- Positive Sentiment: Zacks upgraded Avis Budget Group from “strong sell” to “hold,” which may reduce some extreme bearish sentiment and offer limited support for the shares. Zacks rating upgrade report
- Neutral Sentiment: A head-to-head review comparing Avis Budget Group with Lyft provides sector context but does not appear to announce a material change to Avis’s operations, financial outlook, or valuation. Avis Budget Group versus Lyft review
- Negative Sentiment: Several investor-rights firms publicized a securities class action and a September 29, 2026 lead-plaintiff deadline involving Pentwater Capital Management and CEO Matthew Halbower. The filings allege that Pentwater accumulated and then sold Avis shares, causing substantial investor losses; the allegations have not been proven. The notices may weigh on CAR because of potential litigation costs, uncertainty, and reputational risk. Rosen Law Firm lawsuit deadline notice
Analyst Ratings Changes
A number of research firms recently issued reports on CAR. Wall Street Zen downgraded Avis Budget Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Morgan Stanley boosted their target price on shares of Avis Budget Group from $97.00 to $99.00 and gave the company an "equal weight" rating in a report on Wednesday, May 20th. Zacks Research upgraded shares of Avis Budget Group from a "strong sell" rating to a "hold" rating in a report on Tuesday. Susquehanna raised their price target on shares of Avis Budget Group from $105.00 to $140.00 and gave the stock a "neutral" rating in a research note on Friday, May 8th. Finally, Barclays set a $160.00 price target on shares of Avis Budget Group and gave the company an "equal weight" rating in a research report on Monday, June 8th. Six investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $135.57.
Check Out Our Latest Report 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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