Concert Wealth Management Inc. lessened its stake in Herc Holdings Inc. (NYSE:HRI) by 16.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 5,250 shares of the transportation company’s stock after selling 1,002 shares during the quarter. Concert Wealth Management Inc.’s holdings in Herc Holdings were worth $206,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in HRI. Gamco Investors INC. ET AL boosted its stake in shares of Herc Holdings by 19.5% in the 2nd quarter. Gamco Investors INC. ET AL now owns 3,526,858 shares of the transportation company’s stock valued at $138,676,000 after buying an additional 575,971 shares during the period. 1060 Capital LLC purchased a new position in shares of Herc Holdings in the 2nd quarter valued at about $16,823,000. Victory Capital Management Inc. purchased a new position in shares of Herc Holdings in the 1st quarter valued at about $18,278,000. Gabelli Funds LLC boosted its stake in shares of Herc Holdings by 23.8% in the 2nd quarter. Gabelli Funds LLC now owns 1,251,309 shares of the transportation company’s stock valued at $49,201,000 after buying an additional 240,808 shares during the period. Finally, Impala Asset Management LLC boosted its stake in shares of Herc Holdings by 140.0% in the 1st quarter. Impala Asset Management LLC now owns 398,049 shares of the transportation company’s stock valued at $19,461,000 after buying an additional 232,199 shares during the period.
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HRI has been the subject of several recent research reports. MKM Partners reiterated a “buy” rating and issued a $22.00 price objective on shares of Herc Holdings in a research note on Friday, July 7th. Zacks Investment Research upgraded Herc Holdings from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 12th. ValuEngine upgraded Herc Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Finally, Sidoti cut Herc Holdings from a “buy” rating to a “neutral” rating in a research note on Thursday, May 18th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Herc Holdings has a consensus rating of “Hold” and a consensus target price of $45.00.
In other Herc Holdings news, major shareholder Carl C. Icahn purchased 109,249 shares of Herc Holdings stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average price of $38.95 per share, with a total value of $4,255,248.55. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO James Bruce Dressel purchased 2,500 shares of Herc Holdings stock in a transaction that occurred on Thursday, August 10th. The stock was acquired at an average cost of $39.02 per share, with a total value of $97,550.00. Following the acquisition, the chief operating officer now directly owns 41,402 shares of the company’s stock, valued at approximately $1,615,506.04. The disclosure for this purchase can be found here. Corporate insiders own 0.12% of the company’s stock.
Shares of Herc Holdings Inc. (NYSE HRI) traded up 1.66% during midday trading on Friday, hitting $45.85. The stock had a trading volume of 241,822 shares. Herc Holdings Inc. has a one year low of $28.66 and a one year high of $52.96. The company’s market cap is $1.30 billion. The stock has a 50 day moving average of $42.06 and a 200-day moving average of $43.23.
Herc Holdings (NYSE:HRI) last issued its quarterly earnings results on Tuesday, August 8th. The transportation company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.25. The firm had revenue of $416 million during the quarter, compared to the consensus estimate of $397 million. Herc Holdings had a negative return on equity of 9.52% and a negative net margin of 4.82%. Herc Holdings’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.28) earnings per share. Analysts forecast that Herc Holdings Inc. will post ($0.55) EPS for the current fiscal year.
About Herc Holdings
Hertz Global Holdings, Inc (Hertz Global) is a holding company. The Company owns Rental Car Intermediate Holdings, LLC, which owns Hertz Corporation (Hertz), Hertz Global’s primary operating company. The Company operates through three segments. The U.S. Car Rental (U.S. RAC) segment is engaged in the rental of vehicles, such as cars, crossovers and light trucks, as well as ancillary products and services, in the United States.
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