The Manufacturers Life Insurance Company Purchases Shares of 12,621 Avis Budget Group, Inc. $CAR

Key Points

• The Manufacturers Life Insurance Company purchased 12,621 Avis Budget Group shares worth approximately $1.87 million, while institutional investors collectively own 96.35% of the company.
• Avis Budget Group reported quarterly EPS of $0.98, missing the $2.05 consensus estimate, while revenue declined 1.3% year over year to $3.0 billion. The stock opened at $138.51, below its 50-day and 200-day moving averages.
• Analysts maintain a cautious outlook, with a consensus rating of “Reduce” and an average price target of $135.57; six analysts rate the stock Hold and three rate it Sell.

The Manufacturers Life Insurance Company purchased a new position in shares of Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 12,621 shares of the business services provider's stock, valued at approximately $1,866,000.

Other large investors also recently modified their holdings of the company. MUFG Securities EMEA plc bought a new position in shares of Avis Budget Group during the 4th quarter worth about $25,664,000. Jefferies Financial Group Inc. bought a new stake in Avis Budget Group in the 4th quarter valued at about $2,181,000. Northwestern Mutual Wealth Management Co. raised its stake in Avis Budget Group by 47,007.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 170,999 shares of the business services provider's stock worth $21,943,000 after buying an additional 170,636 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Avis Budget Group by 5.0% in the first 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 in the last quarter. Finally, Cibc World Market Inc. boosted its holdings in Avis Budget Group by 75.0% in the fourth quarter. Cibc World Market Inc. now owns 700,005 shares of the business services provider's stock worth $89,825,000 after acquiring an additional 300,000 shares in the last quarter. Institutional investors and hedge funds own 96.35% of the company's stock.

Avis Budget Group Stock Performance

Shares of CAR opened at $138.51 on Friday. The stock has a 50 day moving average price of $149.62 and a two-hundred day moving average price of $170.94. The firm has a market capitalization of $4.89 billion, a P/E ratio of -7.62 and a beta of 1.91. Avis Budget Group, Inc. has a 52 week low of $85.96 and a 52 week high of $847.70.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last posted its earnings results on Tuesday, July 28th. The business services provider reported $0.98 earnings per share for the quarter, missing analysts' consensus estimates of $2.05 by ($1.07). The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.10 billion. The firm's quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.10 EPS. On average, equities analysts forecast that Avis Budget Group, Inc. will post 1.36 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on CAR. The Goldman Sachs Group boosted their price objective on Avis Budget Group from $85.00 to $95.00 and gave the company a "sell" rating in a report on Friday, July 24th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Avis Budget Group in a report on Monday, August 17th. JPMorgan Chase & Co. lifted their price target on shares of Avis Budget Group from $155.00 to $170.00 and gave the company an "underweight" rating in a research report on Tuesday, June 23rd. Zacks Research upgraded shares of Avis Budget Group from a "strong sell" rating to a "hold" rating in a report on Tuesday. Finally, Susquehanna raised their price objective 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. Six investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and an average target price of $135.57.

Key Headlines Impacting Avis Budget Group

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

• Positive Sentiment: Zacks upgraded Avis Budget Group from “strong sell” to “hold,” signaling a less bearish view of the stock’s outlook, although the rating remains cautious. Zacks rating report
• Neutral Sentiment: Investors have until September 29, 2026, to seek appointment as lead plaintiff in the securities class action. Multiple law firms are encouraging investors who acquired Avis securities—including shares bought to cover short positions—between February 20, 2025, and April 21, 2026, to participate. These announcements are largely duplicative and do not represent a new determination of liability. Rosen Law Firm deadline notice
• Negative Sentiment: The lawsuit alleges that Pentwater and Halbower manipulated Avis shares through the accumulation and subsequent selling of stock, while allegedly making misleading statements about a short squeeze and related trading activity. The complaints claim that these actions caused substantial investor losses. Although the allegations are directed primarily at Pentwater and its leadership, the litigation adds legal and reputational uncertainty around Avis and may weigh on the stock. Pomerantz class action announcement

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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