Pentwater Capital Management LP Buys New Stake in Avis Budget Group, Inc. $CAR

Pentwater Capital Management LP acquired a new stake in Avis Budget Group, Inc. (NASDAQ:CAR) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,513,300 shares of the business services provider’s stock, valued at approximately $371,541,000. Avis Budget Group accounts for approximately 2.3% of Pentwater Capital Management LP’s investment portfolio, making the stock its 8th largest holding. Pentwater Capital Management LP owned approximately 0.07% of Avis Budget Group as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of CAR. Quarry LP bought a new stake in shares of Avis Budget Group in the 4th quarter worth about $27,000. Caitong International Asset Management Co. Ltd boosted its position in Avis Budget Group by 1,845.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 214 shares of the business services provider’s stock valued at $27,000 after buying an additional 203 shares in the last quarter. Basepoint Wealth LLC acquired a new position in Avis Budget Group in the fourth quarter valued at about $32,000. Hollencrest Capital Management bought a new stake in Avis Budget Group during the first quarter worth about $44,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Avis Budget Group by 26.5% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 363 shares of the business services provider’s stock worth $58,000 after buying an additional 76 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 $144.00 on Thursday. The firm has a market cap of $5.09 billion, a P/E ratio of -7.93 and a beta of 1.92. Avis Budget Group, Inc. has a twelve month low of $85.96 and a twelve month high of $847.70. The firm’s 50 day moving average price is $154.67 and its two-hundred day moving average price is $169.98.

Avis Budget Group (NASDAQ:CAR) last released its quarterly 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 business had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.10 billion. The firm’s revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 earnings per share. On average, sell-side analysts anticipate that Avis Budget Group, Inc. will post 1.36 earnings per share for the current fiscal year.

Avis Budget Group News Summary

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.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CAR. Barclays set a $160.00 price target on Avis Budget Group and gave the stock an “equal weight” rating in a research report on Monday, June 8th. The Goldman Sachs Group increased their target price on Avis Budget Group from $85.00 to $95.00 and gave the stock a “sell” rating in a report on Friday, July 24th. Morgan Stanley lifted their price target on Avis Budget Group from $97.00 to $99.00 and gave the company an “equal weight” rating in a report on Wednesday, May 20th. Wall Street Zen downgraded shares of Avis Budget Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, Jefferies Financial Group cut shares of Avis Budget Group from a “buy” rating to a “hold” rating and raised their price objective for the company from $112.00 to $160.00 in a research 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 company’s stock. According to MarketBeat.com, Avis Budget Group has an average rating of “Reduce” and a consensus target price of $135.57.

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.