BlackRock Inc. Invests $245.41 Million in Avis Budget Group, Inc. $CAR

Posted by Geri Gentry on Aug 27th, 2026

BlackRock Inc. acquired a new stake in Avis Budget Group, Inc. (NASDAQ:CAR – Free Report) in the 2nd quarter, Holdings Channel reports. The firm acquired 1,660,106 shares of the business services provider’s stock, valued at approximately $245,413,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CAR. Morgan Stanley boosted its holdings in Avis Budget Group by 38.1% in the 4th quarter. Morgan Stanley now owns 1,975,675 shares of the business services provider’s stock valued at $253,519,000 after purchasing an additional 545,574 shares during the period. Norges Bank acquired a new stake in shares of Avis Budget Group during the 4th quarter worth approximately $45,900,000. Cibc World Market Inc. increased its position in shares of Avis Budget Group by 75.0% during the fourth quarter. Cibc World Market Inc. now owns 700,005 shares of the business services provider’s stock valued at $89,825,000 after purchasing an additional 300,000 shares during the period. Hudson Bay Capital Management LP bought a new stake in shares of Avis Budget Group during the fourth quarter valued at approximately $32,080,000. Finally, BNP Paribas Financial Markets raised its stake in shares of Avis Budget Group by 208.8% in the second quarter. BNP Paribas Financial Markets now owns 318,947 shares of the business services provider’s stock valued at $53,918,000 after purchasing an additional 215,645 shares in the last quarter. Institutional investors own 96.35% of the company’s stock.

Wall Street Analyst Weigh In

CAR has been the topic of a number of recent research reports. Susquehanna lifted 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. The Goldman Sachs Group raised their price objective on shares of Avis Budget Group from $85.00 to $95.00 and gave the stock a “sell” rating in a report on Friday, July 24th. Jefferies Financial Group lowered shares of Avis Budget Group from a “buy” rating to a “hold” rating and lifted their target price for the company from $112.00 to $160.00 in a research report on Friday, May 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Avis Budget Group in a research note on Monday, August 17th. Finally, Zacks Research downgraded Avis Budget Group from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd. Five analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $135.57.

View Our Latest Research Report on Avis Budget Group

Avis Budget Group Price Performance

CAR stock opened at $144.00 on Thursday. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of -7.93 and a beta of 1.92. The business has a fifty day moving average price of $154.67 and a 200 day moving average price of $169.98. Avis Budget Group, Inc. has a fifty-two week low of $85.96 and a fifty-two week 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 the consensus estimate 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. During the same quarter in the previous year, the firm earned $0.10 EPS. The business’s revenue was down 1.3% on a year-over-year basis. On average, equities analysts expect that Avis Budget Group, Inc. will post 1.36 earnings per share for the current fiscal year.

Trending Headlines about Avis Budget Group

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

Neutral Sentiment: Investors who purchased or acquired CAR securities—including shares bought to cover short positions—between February 20, 2025, and April 21, 2026, have been notified of a September 29, 2026, deadline to seek appointment as lead plaintiff. Rosen Law Firm investor deadline announcement
Negative Sentiment: The lawsuit alleges that Pentwater Capital Management LP and CEO Matthew Halbower helped drive Avis shares up more than 400% before selling approximately 4.3 million shares over two trading days. The case seeks damages under federal securities laws and could increase legal, reputational, and market-confidence risks surrounding CAR. Levi and Korsinsky class action announcement
Negative Sentiment: Several firms, including Bernstein Liebhard, Kaplan Fox, Pomerantz, Rosen, and Kahn Swick & Foti, issued substantially similar alerts within the past two days. Although the claims primarily target Pentwater and its executives rather than Avis itself, the repeated announcements keep the alleged trading activity and potential investor losses in focus. Bernstein Liebhard shareholder alert
Negative Sentiment: The legal overhang follows Avis’s latest quarterly results, in which EPS of $0.98 missed the $2.05 consensus estimate and revenue of approximately $3.0 billion fell short of expectations and declined year over year. This combination of earnings pressure and litigation-related uncertainty provides a negative backdrop for CAR.

Avis Budget Group Company Profile

(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.