M&T Bank Corp Buys 8,304 Shares of Avis Budget Group, Inc. $CAR

M&T Bank Corp increased its stake in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 287.5% during the 4th quarter, Holdings Channel reports. The fund owned 11,192 shares of the business services provider’s stock after acquiring an additional 8,304 shares during the period. M&T Bank Corp’s holdings in Avis Budget Group were worth $1,436,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CAR. Deseret Mutual Benefit Administrators boosted its stake in Avis Budget Group by 102.3% during the third quarter. Deseret Mutual Benefit Administrators now owns 174 shares of the business services provider’s stock worth $28,000 after acquiring an additional 88 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in Avis Budget Group by 136.4% during the third quarter. Hantz Financial Services Inc. now owns 253 shares of the business services provider’s stock worth $41,000 after acquiring an additional 146 shares in the last quarter. American Wealth Advisors LLC bought a new position in Avis Budget Group during the third quarter worth $41,000. Northwestern Mutual Wealth Management Co. boosted its stake in 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 acquiring an additional 76 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake 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 acquiring an additional 70 shares in the last quarter. 96.35% of the stock is owned by institutional investors.

Avis Budget Group News Summary

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

• Positive Sentiment: Revenue beat estimates: Q1 revenue of $2.53B topped consensus (~$2.43B) and rose ~4.1% year?over?year, showing underlying demand resilience. Zacks: Key metrics vs estimates
• Neutral Sentiment: Company says a hedge?fund firm tied to the short squeeze owes it money under a niche trading rule — a legal/settlement development that could recover cash but carries uncertainty and timing risk. WSJ: Short squeeze takes another turn
• Neutral Sentiment: Management materials and the full earnings call transcript are available for review — useful for investors wanting detail on fleet, pricing, and margin outlooks. Seeking Alpha: Q1 earnings call transcript Seeking Alpha: Q1 presentation
• Negative Sentiment: Big EPS miss: GAAP EPS was ($8.01) vs. consensus (~($7.14)), a larger-than-expected loss that drove immediate downside after the print. Zacks: Q1 loss, revenue details
• Negative Sentiment: Market reaction and volatility: shares plunged intraday after the report, trading experienced multiple LULD pauses and temporary halts — signalling acute liquidity and volatility risk for short?term holders. 247WallSt: Avis plummets after Q1
• Negative Sentiment: Bearish derivative flow: unusually large put buying (42,326 puts, ~+54% vs avg) indicates traders are positioning for further downside or hedging exposure. (market options flow report)
• Negative Sentiment: Prior large insider/institutional sales (notably Pentwater’s earlier multi?hundred?million dollar sales) and recent analyst downgrades contribute to the negative sentiment and reduce near?term conviction. SEC: Pentwater filing

Analyst Ratings Changes

Several research firms have weighed in on CAR. Zacks Research downgraded shares of Avis Budget Group from a “hold” rating to a “strong sell” rating in a report on Thursday, February 19th. Wall Street Zen downgraded shares of Avis Budget Group from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Deutsche Bank Aktiengesellschaft downgraded shares of Avis Budget Group from a “buy” rating to a “hold” rating and set a $128.00 price objective on the stock. in a report on Monday, April 6th. Weiss Ratings restated a “sell (d)” rating on shares of Avis Budget Group in a report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. downgraded shares of Avis Budget Group from a “neutral” rating to an “underweight” rating and upped their price objective for the stock from $123.00 to $165.00 in a report on Thursday, April 23rd. Three analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Strong Sell” and a consensus target price of $124.00.

Avis Budget Group Trading Down 0.5%

CAR opened at $181.15 on Thursday. The company’s fifty day moving average price is $196.11 and its two-hundred day moving average price is $154.20. Avis Budget Group, Inc. has a 1-year low of $85.96 and a 1-year high of $847.70. The company has a market cap of $6.40 billion, a price-to-earnings ratio of -7.13 and a beta of 1.94.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings data on Wednesday, April 29th. The business services provider reported ($8.01) earnings per share for the quarter, missing the consensus estimate of ($6.82) by ($1.19). The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter last year, the firm posted ($14.35) EPS. The company’s revenue was up 4.1% on a year-over-year basis. As a group, equities analysts forecast that Avis Budget Group, Inc. will post 3.87 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Lynn Krominga sold 1,950 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $91.54, for a total value of $178,503.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Pentwater Capital Management L sold 3,347 shares of the stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $438.74, for a total transaction of $1,468,462.78. Following the completion of the sale, the insider owned 6,177,100 shares of the company’s stock, valued at approximately $2,710,140,854. This represents a 0.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 50.48% of the company’s stock.

Avis Budget Group 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.