Hertz Global Holdings, Inc (HTZ) Sees Large Decrease in Short Interest
Hertz Global Holdings, Inc (NYSE:HTZ) was the target of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 27,679,899 shares, a decrease of 7.8% from the August 15th total of 30,020,557 shares. Approximately 33.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 8,687,864 shares, the days-to-cover ratio is currently 3.2 days.
In other news, SVP Robin Kramer sold 3,524 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $21.53, for a total transaction of $75,871.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.33% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Segantii Capital Management Ltd acquired a new position in Hertz Global Holdings during the first quarter worth $167,000. Nisa Investment Advisors LLC acquired a new position in Hertz Global Holdings during the first quarter worth $174,000. OLD Mutual Customised Solutions Proprietary Ltd. raised its holdings in Hertz Global Holdings by 146.0% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 9,940 shares of the transportation company’s stock worth $174,000 after purchasing an additional 5,900 shares during the last quarter. Karp Capital Management Corp acquired a new position in Hertz Global Holdings during the first quarter worth $211,000. Finally, BlueCrest Capital Management Ltd acquired a new position in Hertz Global Holdings during the second quarter worth $147,000.
Several research analysts recently commented on HTZ shares. Zacks Investment Research downgraded Hertz Global Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. MKM Partners reissued a “buy” rating and issued a $22.00 price objective (down from $29.00) on shares of Hertz Global Holdings in a research note on Tuesday, June 6th. ValuEngine raised Hertz Global Holdings from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. BidaskClub raised Hertz Global Holdings from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Barclays PLC downgraded Hertz Global Holdings from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $17.34 to $9.00 in a research note on Monday, July 31st. Six analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Hertz Global Holdings currently has an average rating of “Hold” and a consensus target price of $16.86.
Shares of Hertz Global Holdings (HTZ) opened at 21.38 on Tuesday. Hertz Global Holdings has a one year low of $17.20 and a one year high of $48.00. The firm has a 50-day moving average price of $22.34 and a 200 day moving average price of $22.47. The stock’s market capitalization is $1.79 billion.
Hertz Global Holdings (NYSE:HTZ) last issued its quarterly earnings data on Tuesday, August 8th. The transportation company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.51). The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.22 billion. Hertz Global Holdings had a negative return on equity of 10.27% and a negative net margin of 8.96%. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 earnings per share. On average, equities analysts expect that Hertz Global Holdings will post ($1.52) EPS for the current fiscal year.
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About Hertz Global Holdings
Herc Holdings Inc, formerly Hertz Global Holdings, Inc, is a holding company. The Company is engaged principally in the business of renting and leasing of cars through its Hertz, Dollar, Thrifty and Firefly brands, and equipment through its Hertz Equipment Rental brand. It operates through four segments: U.S.
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