CENDANT CORP
First SEC filing: Aug. 25, 2011 · Latest: Aug. 25, 2011
Biography
Avis Budget Group, Inc. is an American car rental agency holding company headquartered in Parsippany, New Jersey. It is one of the three big rental car holding companies in the United States. In 2021, it held a 26% market share, placing it behind both the Hertz Global Holdings and Enterprise Holdings. It is the parent company of several brands including Avis Car Rental, Budget Rent a Car, Budget Truck Rental, Payless Car Rental, and Zipcar.
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Avis Budget Group, Inc. is an American car rental agency holding company headquartered in Parsippany, New Jersey. It is one of the three big rental car holding companies in the United States. In 2021, it held a 26% market share, placing it behind both the Hertz Global Holdings and Enterprise Holdings. It is the parent company of several brands including Avis Car Rental, Budget Rent a Car, Budget Truck Rental, Payless Car Rental, and Zipcar.
History
Following the decision to dissolve the Cendant company name and split into four separate companies, the vehicle rental division of Cendant became Avis Budget Group in 2006.
In 2011, Avis Budget Group acquired Avis Europe, an independently owned company licensee, globally reuniting the Avis and Budget brands.
On September 5, 2012, Avis Budget Group acquired Apex Car Rentals of New Zealand.
On March 14, 2013, Avis Budget Group purchased carsharing company Zipcar for about US$500 million in cash.
On April 9, 2015, Avis Budget Group announced it had completed the acquisition of Maggiore Group, Italy's fourth-largest vehicle rental company.
During 2018 Avis along with 90 additional Fortune 500 companies "paid an effective federal tax rate of 0% or less" as a result of Donald Trump´s Tax Cuts and Jobs Act of 2017.
The company's stock value rose dramatically due to increased demand for car rentals during the COVID-19 pandemic and it became a meme stock in November 2021, with shares at one point doubling in a single day. In 2021, it held a 26% market share, placing it behind both the Hertz Global Holdings and Enterprise Holdings. Despite rising revenues, the value of the stock began to decline in 2024 due to rising federal interest rates and declining values for used cars.
Operations
Avis Budget Group is the parent company of several brands including Avis Car Rental, Budget Rent a Car, Budget Truck Rental, Payless Car Rental, and Zipcar. It also operates several smaller, regional brands including ACL Hire, Apex Car Rentals, AmicoBlu, France Cars, Maggiore Group, MoriniRent, TurisCar and TurisPrime. As of 2018, the company had over 600,000 cars in its fleet.
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Insider at
Insider transactions
Price change vs current quote, split-adjusted for corporate actions since the filing — not benchmarked, not annualized, not size-weighted
| Date | Ticker | Code | Shares | Price | Value | Owned after | Δ own | A/D | vs now |
|---|---|---|---|---|---|---|---|---|---|
| July 31, 2006 | TNL | J | 200,000,000 | · | · | 200,000,000 Direct | · | Acquired | (price as of 2026-10-02) |
| July 31, 2006 | 1355001 | J | 250,000,000 | · | · | 0 Direct | -100.00% | Disposed | |
| July 31, 2006 | 1355001 | J | 250,000,000 | · | · | 250,000,000 Direct | · | Acquired | |
| July 31, 2006 | TNL | J | 200,000,000 | · | · | 0 Direct | -100.00% | Disposed | (price as of 2026-10-02) |
| Jan. 31, 2005 | CAR | J | 52,684,400 | · | · | 0 Direct | -100.00% | Disposed | (price as of 2026-10-02) |
| Jan. 28, 2005 | CAR | J | 52,683,400 | · | · | 52,684,400 Direct | +5268340.00% | Acquired | (price as of 2026-10-02) |
| Jan. 20, 2004 | CAR | S | 2,300,000 | $4.75 | $10,925,000 | 11,431,503 Indirect | -16.75% | Disposed | 1363.4% (price as of 2026-10-02) |
| Dec. 17, 2003 | CAR | P | 3,400,000 | · | · | 3,400,000 Indirect | · | Acquired | (price as of 2026-10-02) |
| Dec. 17, 2003 | CAR | S | 3,400,000 | $3.33 | $11,322,000 | 13,731,503 Indirect | -19.85% | Disposed | 1987.5% (price as of 2026-10-02) |
| Dec. 17, 2003 | CAR | S | 1,000,000 | $3.70 | $3,700,000 | 17,131,503 Indirect | -5.52% | Disposed | 1778.7% (price as of 2026-10-02) |
P = Open-market purchase · S = Sale · A = Grant/award · M = Option exercise · G = Gift · F = Tax withholding
Insider transactions are not a recommendation; sales are often driven by liquidity or tax reasons.
Derivative holdings (Form 4 Table II) Options, RSUs and convertible securities reported on Form 4 Table II.
| Date | Ticker | Security | Underlying | Exercise price | Expiration | Shares | A/D |
|---|---|---|---|---|---|---|---|
| Dec. 17, 2003 | CAR | Capped share appreciation rights option (SAR) | Common Stock | · | · | 3,400,000 | Acquired |
Exercise/conversion price is blank when not applicable (e.g. RSUs).
Initial ownership (Form 3) 5 holdings
Securities held when first becoming an insider, per SEC Form 3.