Avis Budget Group (CAR) spikes 22.9% as short-squeeze momentum accelerates

Avis Budget Group (CAR) is up 22.9% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears driven mainly by short-squeeze and options-related momentum rather than a new fundamental update. With unusually heavy bearish positioning and a relatively constrained tradable float, incremental buying can force additional short covering and create a feedback loop.

Details:

Short interest was cited as roughly 54% of the free float at the end of March 2026, with an elevated days-to-cover figure, which can amplify upside moves when prices rise quickly.

A sizable stake disclosure by Pentwater Capital Management helped focus attention on the name and contributed to positioning pressure on short sellers.

In a March 27, 2026 Form 8-K, the company disclosed an equity distribution (“ATM”) program allowing sales of up to 5,000,000 shares over time, a structure that can raise uncertainty about potential dilution even as the stock rallies.

This could also be influenced by call buying and “gamma” dynamics, where market makers hedge option exposure by purchasing shares as the price climbs (speculation).

Sources:

SEC, Forbes, TT News

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$CAR Insider Trading Activity

$CAR insiders have traded $CAR stock on the open market 2 times in the past 6 months. Of those trades, 1 have been purchases and 1 have been sales.

Here’s a breakdown of recent trading of $CAR stock by insiders over the last 6 months:

CAPITAL MANAGEMENT LP PENTWATER purchased 425,000 shares for an estimated $40,060,075
LYNN KROMINGA sold 1,950 shares for an estimated $178,503

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

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$CAR Hedge Fund Activity

We have seen 132 institutional investors add shares of $CAR stock to their portfolio, and 143 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

NOMURA HOLDINGS INC removed 982,822 shares (-66.0%) from their portfolio in Q4 2025, for an estimated $126,115,719
UBS GROUP AG added 804,814 shares (+37.3%) to their portfolio in Q4 2025, for an estimated $103,273,732
CIBC WORLD MARKETS CORP added 707,800 shares (+248.4%) to their portfolio in Q4 2025, for an estimated $90,824,896
JPMORGAN CHASE & CO removed 638,370 shares (-90.1%) from their portfolio in Q4 2025, for an estimated $81,915,638
FMR LLC removed 605,989 shares (-57.1%) from their portfolio in Q4 2025, for an estimated $77,760,508
MORGAN STANLEY added 545,574 shares (+38.1%) to their portfolio in Q4 2025, for an estimated $70,008,055
NORGES BANK added 317,536 shares (+790.6%) to their portfolio in Q4 2025, for an estimated $40,746,219

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$CAR Price Targets

Multiple analysts have issued price targets for $CAR recently. We have seen 4 analysts offer price targets for $CAR in the last 6 months, with a median target of $136.0.

Here are some recent targets:

Dan Levy from Barclays set a target price of $150.0 on 04/20/2026
Andrew Percoco from Morgan Stanley set a target price of $97.0 on 03/06/2026
Christopher Stathoulopoulos from Susquehanna set a target price of $130.0 on 10/29/2025

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.