The Manufacturers Life Insurance Company Makes New Investment in Avis Budget Group, Inc. $CAR

The Manufacturers Life Insurance Company acquired a new stake in Avis Budget Group, Inc. (NASDAQ:CAR) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 12,621 shares of the business services provider’s stock, valued at approximately $1,866,000.

Several other hedge funds have also recently modified their holdings of CAR. Caitong International Asset Management Co. Ltd boosted its stake in shares of Avis Budget Group by 1,845.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 214 shares of the business services provider’s stock worth $27,000 after buying an additional 203 shares during the last quarter. Quarry LP bought a new stake in Avis Budget Group during the fourth quarter worth $27,000. Basepoint Wealth LLC purchased a new position in Avis Budget Group in the fourth quarter worth $32,000. Hollencrest Capital Management purchased a new position in Avis Budget Group in the first quarter worth $44,000. Finally, Hantz Financial Services Inc. grew its stake in Avis Budget Group by 70.4% in the 4th quarter. Hantz Financial Services Inc. now owns 431 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 178 shares during the period. Institutional investors own 96.35% of the company’s stock.

Avis Budget Group News Summary

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

• Positive Sentiment: Zacks upgraded Avis Budget Group from “strong sell” to “hold,” signaling a less bearish view of the stock’s outlook, although the rating remains cautious. Zacks rating report
• Neutral Sentiment: Investors have until September 29, 2026, to seek appointment as lead plaintiff in the securities class action. Multiple law firms are encouraging investors who acquired Avis securities—including shares bought to cover short positions—between February 20, 2025, and April 21, 2026, to participate. These announcements are largely duplicative and do not represent a new determination of liability. Rosen Law Firm deadline notice
• Negative Sentiment: The lawsuit alleges that Pentwater and Halbower manipulated Avis shares through the accumulation and subsequent selling of stock, while allegedly making misleading statements about a short squeeze and related trading activity. The complaints claim that these actions caused substantial investor losses. Although the allegations are directed primarily at Pentwater and its leadership, the litigation adds legal and reputational uncertainty around Avis and may weigh on the stock. Pomerantz class action announcement

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CAR shares. Zacks Research raised Avis Budget Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday. 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 report on Friday, July 24th. JPMorgan Chase & Co. increased their price target on shares of Avis Budget Group from $155.00 to $170.00 and gave the company an “underweight” rating in a research report on Tuesday, June 23rd. Morgan Stanley raised their price objective on shares of Avis Budget Group from $97.00 to $99.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Avis Budget Group in a research report on Monday, August 17th. Six equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Avis Budget Group presently has a consensus rating of “Reduce” and an average price target of $135.57.

Avis Budget Group Trading Up 0.5%

Avis Budget Group stock opened at $138.51 on Friday. The business’s 50 day simple moving average is $149.62 and its 200 day simple moving average is $170.94. Avis Budget Group, Inc. has a 12 month low of $85.96 and a 12 month high of $847.70. The company has a market cap of $4.89 billion, a price-to-earnings ratio of -7.62 and a beta of 1.91.

Avis Budget Group (NASDAQ:CAR) last released its earnings results on Tuesday, July 28th. The business services provider reported $0.98 earnings per share (EPS) 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 analyst estimates of $3.10 billion. During the same period in the prior 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, equities research analysts forecast that Avis Budget Group, Inc. will post 1.36 earnings per share for the current fiscal year.

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.