M&T Bank Corp Has $1.44 Million Stock Holdings in Avis Budget Group, Inc. $CAR

Key Points

• M&T Bank Corp boosted its stake in Avis Budget by 287.5% in Q4 to 11,192 shares, worth about $1.44 million.
• Avis's Q1 revenue of $2.53B beat estimates but GAAP EPS missed heavily at ($8.01), spurring a sharp intraday sell‑off, trading halts and unusually large put buying.
• Research firms have mostly downgraded the stock — MarketBeat shows a consensus "Strong Sell" with a $124 price target — while insiders still own roughly 50.48% and some large institutional sales have weighed on sentiment.

M&T Bank Corp boosted its holdings in shares of Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 287.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,192 shares of the business services provider's stock after acquiring an additional 8,304 shares during the quarter. M&T Bank Corp's holdings in Avis Budget Group were worth $1,436,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Deseret Mutual Benefit Administrators grew its holdings in Avis Budget Group by 102.3% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 174 shares of the business services provider's stock worth $28,000 after acquiring an additional 88 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in Avis Budget Group by 136.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 253 shares of the business services provider's stock worth $41,000 after acquiring an additional 146 shares during the last quarter. American Wealth Advisors LLC bought a new stake in Avis Budget Group during the 3rd quarter worth approximately $41,000. Northwestern Mutual Wealth Management Co. grew its holdings in Avis Budget Group by 26.5% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 363 shares of the business services provider's stock worth $58,000 after acquiring an additional 76 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings 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 worth $72,000 after acquiring an additional 70 shares during the last quarter. 96.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CAR has been the topic of a number of research reports. JPMorgan Chase & Co. lowered shares of Avis Budget Group from a "neutral" rating to an "underweight" rating and boosted their target price for the stock from $123.00 to $165.00 in a report on Thursday, April 23rd. Morgan Stanley reduced their target price on shares of Avis Budget Group from $142.00 to $97.00 and set an "equal weight" rating on the stock in a report on Friday, March 6th. Barclays lowered shares of Avis Budget Group from an "equal weight" rating to an "underweight" rating and boosted their target price for the stock from $95.00 to $150.00 in a report on Monday, April 20th. The Goldman Sachs Group set a $85.00 target price on shares of Avis Budget Group in a report on Monday, February 23rd. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Avis Budget Group from a "buy" rating to a "hold" rating and set a $128.00 target price on the stock. in a report on Monday, April 6th. Three equities research analysts have rated the stock with a Hold rating and six have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Strong Sell" and a consensus price target of $124.00.

Insiders Place Their Bets

In related news, major shareholder Pentwater Capital Management L sold 3,347 shares of the stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $438.74, for a total transaction of $1,468,462.78. Following the transaction, the insider directly owned 6,177,100 shares of the company's stock, valued at $2,710,140,854. This represents a 0.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lynn Krominga sold 1,950 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $91.54, for a total transaction of $178,503.00. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 50.48% of the company's stock.

Key Avis Budget Group News

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

• Positive Sentiment: Revenue beat estimates: Q1 revenue of $2.53B topped consensus (~$2.43B) and rose ~4.1% year‑over‑year, showing underlying demand resilience. Zacks: Key metrics vs estimates
• Neutral Sentiment: Company says a hedge‑fund firm tied to the short squeeze owes it money under a niche trading rule — a legal/settlement development that could recover cash but carries uncertainty and timing risk. WSJ: Short squeeze takes another turn
• Neutral Sentiment: Management materials and the full earnings call transcript are available for review — useful for investors wanting detail on fleet, pricing, and margin outlooks. Seeking Alpha: Q1 earnings call transcript Seeking Alpha: Q1 presentation
• Negative Sentiment: Big EPS miss: GAAP EPS was ($8.01) vs. consensus (~($7.14)), a larger-than-expected loss that drove immediate downside after the print. Zacks: Q1 loss, revenue details
• Negative Sentiment: Market reaction and volatility: shares plunged intraday after the report, trading experienced multiple LULD pauses and temporary halts — signalling acute liquidity and volatility risk for short‑term holders. 247WallSt: Avis plummets after Q1
• Negative Sentiment: Bearish derivative flow: unusually large put buying (42,326 puts, ~+54% vs avg) indicates traders are positioning for further downside or hedging exposure. (market options flow report)
• Negative Sentiment: Prior large insider/institutional sales (notably Pentwater's earlier multi‑hundred‑million dollar sales) and recent analyst downgrades contribute to the negative sentiment and reduce near‑term conviction. SEC: Pentwater filing

Avis Budget Group Stock Performance

NASDAQ:CAR opened at $181.15 on Thursday. The firm's fifty day moving average is $196.11 and its 200-day moving average is $154.20. Avis Budget Group, Inc. has a 52 week low of $85.96 and a 52 week high of $847.70. The firm has a market cap of $6.40 billion, a P/E ratio of -7.13 and a beta of 1.94.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The business services provider reported ($8.01) EPS for the quarter, missing analysts' consensus estimates of ($6.82) by ($1.19). The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the prior year, the company posted ($14.35) earnings per share. The business's revenue was up 4.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Avis Budget Group, Inc. will post 3.87 earnings per share for the current year.

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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