Avis Budget Group (NASDAQ:CAR) Shares Down 5.6% – Here’s What Happened

Posted by Francis Steltz on Sep 24th, 2026

Avis Budget Group, Inc. (NASDAQ:CAR – Get Free Report)’s share price fell 5.6% during mid-day trading on Tuesday . The stock traded as low as $111.02 and last traded at $110.6850. 116,857 shares changed hands during trading, a decline of 91% from the average daily volume of 1,345,437 shares. The stock had previously closed at $117.26.

More Avis Budget Group News

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

Neutral Sentiment: The lawsuit is directed primarily at Pentwater Capital Management LP and its CEO, Matthew Halbower, rather than alleging that Avis itself committed the misconduct. The case covers investors who purchased Avis securities, including shares bought to cover short positions, from February 20, 2025, through April 21, 2026. Pomerantz class action announcement
Neutral Sentiment: The allegations claim Pentwater manipulated Avis’ share price through a pump-and-dump scheme and profited from short-swing trading connected with an approximately $1.75 billion share sale. One notice references a reported $650 million settlement agreement, though the legal announcements do not establish Avis’ liability. Levi and Korsinsky shareholder alert
Negative Sentiment: The unusually large number of law-firm alerts may reinforce concerns about governance, trading activity, and potential litigation-related uncertainty surrounding Avis. Investors may also remain cautious after the company’s latest reported quarter missed earnings and revenue expectations, adding to the stock’s broader weakness.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CAR shares. Zacks Research upgraded shares of Avis Budget Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 1st. The Goldman Sachs Group boosted their price target on shares of Avis Budget Group from $85.00 to $95.00 and gave the stock a “sell” rating in a research note on Friday, July 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Avis Budget Group in a report on Monday, August 17th. Barclays set a $160.00 target price on Avis Budget Group and gave the stock an “equal weight” rating in a research report on Monday, June 8th. Finally, Wall Street Zen lowered Avis Budget Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Six equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $135.00.

Check Out Our Latest Analysis on CAR

Avis Budget Group Trading Down 1.9%

The stock has a market capitalization of $3.73 billion, a PE ratio of -5.82 and a beta of 1.91. The business’s 50 day moving average is $139.77 and its 200 day moving average is $173.04.

Avis Budget Group (NASDAQ:CAR – Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The business services provider reported $0.98 earnings per share (EPS) 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 analyst estimates of $3.10 billion. During the same period in the prior year, the firm posted $0.10 earnings per share. Avis Budget Group’s revenue was down 1.3% compared to the same quarter last year. As a group, analysts anticipate that Avis Budget Group, Inc. will post 1.08 EPS for the current year.

Institutional Trading of Avis Budget Group

A number of large investors have recently made changes to their positions in CAR. Parallel Advisors LLC boosted its position in shares of Avis Budget Group by 11.6% during the 1st quarter. Parallel Advisors LLC now owns 587 shares of the business services provider’s stock worth $86,000 after purchasing an additional 61 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in Avis Budget Group by 3.0% during the first quarter. Oregon Public Employees Retirement Fund now owns 3,474 shares of the business services provider’s stock worth $507,000 after purchasing an additional 100 shares in the last quarter. State of Michigan Retirement System lifted its stake in Avis Budget Group by 2.5% during the first quarter. State of Michigan Retirement System now owns 4,073 shares of the business services provider’s stock worth $594,000 after purchasing an additional 100 shares in the last quarter. AXQ Capital LP boosted its position in shares of Avis Budget Group by 5.3% during the fourth quarter. AXQ Capital LP now owns 2,900 shares of the business services provider’s stock worth $372,000 after buying an additional 145 shares during the period. Finally, Hantz Financial Services Inc. grew 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 in the last quarter. 96.35% of the stock is owned by hedge funds and other institutional investors.

Avis Budget Group Company Profile

(Get Free Report)

Avis Budget Group, Inc is a global provider of vehicle rental and mobility services. The company operates through a portfolio of well-known brands, including Avis, Budget and Payless, offering car and truck rentals to business and leisure travelers, government customers and other organizations.

The company also provides flexible vehicle access through Zipcar, a car-sharing service that allows members to reserve vehicles for short-term use. Its services are delivered through company-operated locations, licensed operations and franchise partners, with offerings that may include airport and neighborhood rentals, fleet management and related mobility solutions.

Avis Budget Group serves customers across North America, Europe, Australia and New Zealand, Latin America, the Caribbean, Africa and parts of Asia through its operating businesses and partners.