Cibc World Market Inc. acquired a new position in Avis Budget Group, Inc. (NASDAQ:CAR – Free Report) during the second quarter, HoldingsChannel reports. The fund acquired 500,000 shares of the business services provider’s stock, valued at approximately $73,915,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of CAR. UBS Group AG grew its holdings in shares of Avis Budget Group by 37.3% during the fourth quarter. UBS Group AG now owns 2,964,807 shares of the business services provider’s stock worth $380,444,000 after purchasing an additional 804,814 shares during the last quarter. Morgan Stanley raised its holdings in shares of Avis Budget Group by 38.1% in the fourth quarter. Morgan Stanley now owns 1,975,675 shares of the business services provider’s stock valued at $253,519,000 after buying an additional 545,574 shares during the last quarter. BlackRock Inc. bought a new position in shares of Avis Budget Group in the second quarter valued at about $245,413,000. State Street Corp lifted its position in Avis Budget Group by 1.0% during the 2nd quarter. State Street Corp now owns 713,127 shares of the business services provider’s stock worth $120,554,000 after buying an additional 7,318 shares in the last quarter. Finally, Mizuho Markets Americas LLC lifted its position in Avis Budget Group by 7.4% during the 1st quarter. Mizuho Markets Americas LLC now owns 400,000 shares of the business services provider’s stock worth $58,340,000 after buying an additional 27,500 shares in the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.
Avis Budget Group Price Performance
Shares of CAR opened at $146.61 on Monday. The stock’s fifty day simple moving average is $157.08 and its 200-day simple moving average is $169.44. The firm has a market capitalization of $5.18 billion, a PE ratio of -8.07 and a beta of 1.92. Avis Budget Group, Inc. has a 12-month low of $85.96 and a 12-month high of $847.70.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the stock. Wall Street Zen lowered shares of Avis Budget Group from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. The Goldman Sachs Group boosted their target price 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. JPMorgan Chase & Co. upped their target price on shares of Avis Budget Group from $155.00 to $170.00 and gave the stock an “underweight” rating in a research report on Tuesday, June 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Avis Budget Group in a research note on Monday, August 17th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $125.00 price target on shares of Avis Budget Group in a report on Friday, May 1st. Five investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $135.57.
Check Out Our Latest Analysis on CAR
Avis Budget Group News Roundup
Here are the key news stories impacting Avis Budget Group this week:
- Positive Sentiment: Long-term earnings estimates improved. Zacks Research raised its FY2027 EPS forecast to $5.38 from $4.66 and its FY2028 forecast to $8.76 from $6.66. It also increased several 2027–2028 quarterly estimates, suggesting potential earnings recovery over the longer term. However, Zacks continues to rate Avis Budget Group “Strong Sell.” Zacks Research estimate changes
- Neutral Sentiment: Class action targets Pentwater and its executives. Multiple law firms reported that a securities lawsuit was filed in federal court on behalf of investors who purchased CAR securities between February 20, 2025, and April 21, 2026. The complaint alleges securities-law violations connected to Pentwater Capital Management’s trading in Avis shares; the case seeks damages for investors and does not represent a new operating announcement from Avis. The lead-plaintiff deadline is September 29, 2026. Pomerantz class action filing
- Negative Sentiment: Repeated legal alerts add headline and litigation risk. Investor-rights firms are encouraging shareholders to seek lead-plaintiff status, alleging that a large Pentwater share sale and related trading activity harmed CAR investors. The repeated announcements can pressure sentiment and increase uncertainty around Avis’s investor relations, even though the allegations are unproven and the claims primarily name Pentwater and its leadership. Kahn Swick & Foti legal notice
- Negative Sentiment: Near-term earnings expectations remain weak. Zacks cut its FY2026 EPS forecast to $1.35 from $2.33 and lowered Q3 2026 estimates modestly. This follows Avis’s recent quarterly EPS and revenue miss, reinforcing concerns about volatile profitability and keeping the stock’s broader fundamental outlook under pressure.
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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