Avis Budget Group EVP sells $652,574 in company stock

Parsippany, NJ – Executive Vice President and Chief Digital & Innovation Officer at Avis Budget Group, Ravi Simhambhatla, sold $652,574 worth of company stock on August 7, 2026, as disclosed in a recent Securities and Exchange Commission filing. The transactions comprised three blocks of shares, each sold at varying prices within the $138.00-$140.35 range.

Specifically, 2,936 shares were sold at an average price of $138.27, 1,490 shares at $139.53, and 276 shares at $140.27. The stock's current price stands at $137.85, having experienced a decline of approximately 3% over the past week and exhibiting high volatility, with a beta of 1.9. As a result of these sales, Simhambhatla now directly owns 18,810 shares of Avis Budget Group common stock.

The sale's timing is noteworthy, as InvestingPro analysis indicates the stock is currently overvalued. Investors can access further insights through 7 additional InvestingPro Tips for CAR, complemented by detailed financial health metrics. The filing was signed by Jean M. Sera, authorized by Power of Attorney, on August 11, 2026.

In related news, Avis Budget Group reported second-quarter 2026 financial results, which fell short of market expectations, with adjusted earnings per share at $0.98 and revenue of $3 billion, compared to analyst projections of $2.07 per share and $3.1 billion in revenue. Despite challenges, the company highlighted improved adjusted EBITDA and margins.

Analysts have not yet revised their ratings post-earnings, but the results highlight the company's ongoing difficulties.