First Trust Advisors LP Has $2.94 Million Stock Holdings in Avis Budget Group, Inc. $CAR

First Trust Advisors LP cut its stake in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 65.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 20,170 shares of the business services provider’s stock after selling 38,727 shares during the quarter. First Trust Advisors LP’s holdings in Avis Budget Group were worth $2,942,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CAR. Royal Bank of Canada raised its stake in shares of Avis Budget Group by 414.0% during the 1st quarter. Royal Bank of Canada now owns 17,860 shares of the business services provider’s stock worth $1,355,000 after purchasing an additional 14,385 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Avis Budget Group by 10.1% in the first quarter. Empowered Funds LLC now owns 3,749 shares of the business services provider’s stock valued at $285,000 after buying an additional 343 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Avis Budget Group by 16.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,023 shares of the business services provider’s stock valued at $4,935,000 after buying an additional 9,246 shares in the last quarter. Prudential Financial Inc. acquired a new position in Avis Budget Group during the second quarter worth $352,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Avis Budget Group by 19.6% during the second quarter. EverSource Wealth Advisors LLC now owns 427 shares of the business services provider’s stock worth $72,000 after buying an additional 70 shares during the last quarter. 96.35% of the stock is currently owned by institutional investors.

Trending Headlines about Avis Budget Group

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

• Neutral Sentiment: Several law firms announced or promoted the same pending securities class action involving Pentwater Capital Management and its CEO, Matthew Halbower. The lawsuit covers investors who purchased Avis securities between February 20, 2025, and April 21, 2026, with a lead-plaintiff deadline of September 29, 2026. The case is directed at Pentwater and Halbower rather than alleging wrongdoing by Avis itself. Pomerantz class-action announcement
• Negative Sentiment: The allegations claim Pentwater and Halbower helped drive Avis shares up more than 400% before selling approximately 4.3 million shares over two trading sessions. Other filings allege that Pentwater’s disclosures did not fully reveal its trading intentions. These accusations increase legal and reputational uncertainty around CAR, although they remain unproven. SueWallSt lawsuit announcement
• Negative Sentiment: Zacks Research downgraded Avis Budget Group from “hold” to “strong sell,” reinforcing the bearish tone surrounding the stock. The downgrade follows Avis’s recent quarterly earnings miss, in which adjusted EPS came in below expectations and revenue declined year over year. Zacks Research

Avis Budget Group Trading Down 0.2%

CAR stock opened at $138.35 on Friday. Avis Budget Group, Inc. has a 1-year low of $85.96 and a 1-year high of $847.70. The business’s 50 day simple moving average is $165.52 and its 200 day simple moving average is $167.81. The firm has a market capitalization of $4.89 billion, a PE ratio of -7.61 and a beta of 1.92.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings results 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 during the quarter, compared to analyst estimates of $3.10 billion. During the same period last year, the company earned $0.10 earnings per share. Avis Budget Group’s revenue was down 1.3% on a year-over-year basis. As a group, sell-side analysts predict that Avis Budget Group, Inc. will post 1.69 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on CAR. Wall Street Zen lowered shares of Avis Budget Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Susquehanna lifted 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 report on Friday, May 8th. Jefferies Financial Group lowered shares of Avis Budget Group from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $112.00 to $160.00 in a research note on Friday, May 1st. Zacks Research cut shares of Avis Budget Group from a “hold” rating to a “strong sell” rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $125.00 target price on shares of Avis Budget Group in a research note on Friday, May 1st. Five analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, Avis Budget Group currently has an average rating of “Reduce” and an average price target of $132.75.

Avis Budget Group Company Profile

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.