avis budget group, inc. is a leading global provider of vehicle rental services, both through its avis and budget brands, which have more than 10,000 rental locations in approximately 175 countries around the world, and through its zipcar brand, which is the world's leading car sharing network, with more than 900,000 members. avis budget group operates most of its car rental offices in north america, europe and australia directly, and operates primarily through licensees in other parts of the world. avis budget group has approximately 30,000 employees and is headquartered in parsippany, n.j.
Company profile
Ticker
CAR
Exchange
Website
CEO
Joseph Ferraro
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Hertz • Hertz Global • Ryder System • SP Plus • Getaround • U-Haul Holding • HC Liquidating • Marti • Innovative International Acquisition • Earn-A-Car ...
Former names
CENDANT CORP, CUC INTERNATIONAL INC /DE/
SEC CIK
Corporate docs
Subsidiaries
2233516 Ontario, Inc. • AAA France Cars SAS • AB Canada Holdings I Limited Partnership • AB Canada Holdings II Partnership • AB Canada Holdings III Limited Partnership • AB Car Rental Services, Inc. • AB FleetCo SAS • AB Funding Pty Ltd. • AB Group • AB Luxembourg Holdings ...
IRS number
60918165
CAR stock data
Analyst ratings and price targets
Latest filings (excl ownership)
8-K
Entry into a Material Definitive Agreement
21 Sep 23
10-Q
2023 Q2
Quarterly report
1 Aug 23
8-K
Results of Operations and Financial Condition
31 Jul 23
8-K
Other Events
14 Jul 23
8-K
Entry into a Material Definitive Agreement
6 Jun 23
8-K
Submission of Matters to a Vote of Security Holders
26 May 23
10-Q
2023 Q1
Quarterly report
2 May 23
8-K
Results of Operations and Financial Condition
1 May 23
8-K
Entry into a Material Definitive Agreement
28 Apr 23
8-K
Entry into a Material Definitive Agreement
11 Apr 23
Transcripts
CAR
Earnings call transcript
2023 Q2
1 Aug 23
CAR
Earnings call transcript
2023 Q1
2 May 23
CAR
Earnings call transcript
2022 Q4
14 Feb 23
CAR
Earnings call transcript
2022 Q3
1 Nov 22
CAR
Earnings call transcript
2022 Q2
2 Aug 22
CAR
Earnings call transcript
2022 Q1
3 May 22
CAR
Earnings call transcript
2021 Q4
15 Feb 22
CAR
Earnings call transcript
2021 Q3
2 Nov 21
CAR
Earnings call transcript
2021 Q2
4 Aug 21
CAR
Earnings call transcript
2021 Q1
4 May 21
Latest ownership filings
4
Brian J Choi
5 Sep 23
4
Karthik R. Sarma
25 Aug 23
SC 13D/A
SRS Investment Management, LLC
25 Aug 23
4
Ravi Simhambhatla
28 Jul 23
4
Bernardo Hees
5 Jul 23
4
Patrick K Rankin
15 Jun 23
144
Notice of proposed sale of securities
13 Jun 23
4
Cathleen DeGenova
13 Mar 23
4
Jean M Sera
13 Mar 23
4
Edward P Linnen
13 Mar 23
Financial summary
| Quarter (USD) | Jun 23 | Mar 23 | Dec 22 | Sep 22 | |
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| Diluted EPS |
| Annual (USD) | Dec 22 | Dec 21 | Dec 20 | Dec 19 | |
|---|---|---|---|---|---|
| Revenue | |||||
| Cost of revenue | |||||
| Operating income | |||||
| Operating margin | |||||
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| Diluted EPS |
| Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
|---|---|---|---|---|---|---|
| Cash on hand (at last report) | 682.00 mm | 682.00 mm | 682.00 mm | 682.00 mm | 682.00 mm | 682.00 mm |
| Cash burn (monthly) | (no burn) | 166.67 k | (no burn) | (no burn) | (no burn) | (no burn) |
| Cash used (since last report) | n/a | 493.06 k | n/a | n/a | n/a | n/a |
| Cash remaining | n/a | 681.51 mm | n/a | n/a | n/a | n/a |
| Runway (months of cash) | n/a | 4089.0 | n/a | n/a | n/a | n/a |
Institutional ownership, Q2 2023
98.2% owned by funds/institutions
| 13F holders | Current |
|---|---|
| Total holders | 300 |
| Opened positions | 58 |
| Closed positions | 49 |
| Increased positions | 73 |
| Reduced positions | 124 |
| 13F shares | Current |
|---|---|
| Total value | 8.68 tn |
| Total shares | 38.04 mm |
| Total puts | 1.45 mm |
| Total calls | 1.04 mm |
| Total put/call ratio | 1.4 |
| Largest owners | Shares | Value |
|---|---|---|
| SRS Investment Management | 18.43 mm | $4.21 tn |
| FMR | 5.36 mm | $1.23 tn |
| BLK Blackrock | 2.19 mm | $501.12 bn |
| Vanguard | 2.01 mm | $459.46 bn |
| NMR Nomura | 1.73 mm | $396.43 bn |
| STT State Street | 730.24 k | $166.98 bn |
| Par Capital Management | 508.11 k | $116.19 bn |
| TD Toronto Dominion Bank | 405.00 k | $92.56 bn |
| Geode Capital Management | 366.12 k | $83.72 bn |
| Hudson Bay Capital Management | 350.00 k | $80.03 bn |
Recent insider trades
| Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|---|
| 31 Aug 23 | Brian J Choi | Common Stock | Payment of exercise | Dispose F | No | No | 213.39 | 14,357 | 3.06 mm | 83,603 |
| 31 Aug 23 | Brian J Choi | Common Stock | Option exercise | Acquire M | No | No | 0 | 29,317 | 0.00 | 97,960 |
| 31 Aug 23 | Brian J Choi | RSU Common Stock | Option exercise | Dispose M | No | No | 0 | 29,317 | 0.00 | 0 |
| 25 Aug 23 | SRS Investment Management | Common Stock | Sale back to company | Dispose D | Yes | No | 222.91 | 1,000,000 | 222.91 mm | 17,430,882 |
| 26 Jul 23 | Ravi Simhambhatla | Common Stock | Payment of exercise | Dispose F | No | No | 224.65 | 159 | 35.72 k | 347 |
| 26 Jul 23 | Ravi Simhambhatla | Common Stock | Grant | Acquire A | No | No | 0 | 506 | 0.00 | 506 |
| 26 Jul 23 | Ravi Simhambhatla | RSU Common Stock | Option exercise | Dispose M | No | No | 0 | 506 | 0.00 | 1,013 |
| 13 Jun 23 | Rankin Patrick K | Common Stock | Sell | Dispose S | No | No | 202.55 | 14,917 | 3.02 mm | 59,672 |
| 9 Mar 23 | Rankin Patrick K | Common Stock | Payment of exercise | Dispose F | No | No | 208.84 | 28,963 | 6.05 mm | 74,589 |
| 9 Mar 23 | Rankin Patrick K | Common Stock | Option exercise | Acquire M | No | No | 0 | 61,617 | 0.00 | 103,552 |
News
How The Auto Workers Strike Is Affecting Car Value, Used Vehicle Stocks
15 Sep 23
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16 Aug 23
No Credit Card? No Car! Avis Budget Fined $275K For Turning Away Customers: Report
16 Aug 23
Morgan Stanley Reiterates Overweight on Avis Budget Gr, Maintains $230 Price Target
4 Aug 23
Avis Budget Group Trading Higher In After Hours Despite Quarterly Sales Miss
31 Jul 23
Press releases
In Honor of Globally Recognized "Car-Free Day," Zipcar Releases New Data about the Impact of Car Sharing on Traffic and Parking Competition in Boston
19 Sep 23
In Honor of Globally Recognized "Car-Free Day," Zipcar Releases New Data about the Impact of Car Sharing on Traffic and Parking Competition in Chicago
19 Sep 23
In Honor of Globally Recognized "Car-Free Day," Zipcar Releases New Data about The Impact of Car Sharing on Traffic and Parking Competition in New York City
19 Sep 23
In Honor of Globally Recognized "Car-Free Day," Zipcar Releases New Data about the Impact of Car Sharing on Traffic and Parking Competition in Washington, D.C.
19 Sep 23
Avis Budget Group Reports Second Quarter Results
31 Jul 23