Third Point LLC recently announced the acquisition of new stake in Hertz Global Holdings Inc. (NASDAQ:HTZ). The institutional investor has increased its shareholding in the Industrials company by 2.39% to 7.49 million shares with purchase of 0.18 million shares. This fresh investment now brings its stake to 2.44% valued currently at $77.87 million. In addition, Pentwater Capital Management LP raised its holdings by 3.76 million to 5.5 million shares. And Dimensional Fund Advisors LP has lifted its position by 20.48% or 0.89 million shares – to 5.22 million shares.
Currently, there are 323.48M common shares owned by the public and among those 137.41M shares have been available to trade.
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Insiders at the company have transacted a total of 31 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 20 of these insider trades were purchases, accounting for 1,933,374 shares. Insider sales of the common stock occurred on 11 occasions, with total insider shares sold totaling 90,221 shares.
The top 3 mutual fund holders in Hertz Global Holdings Inc. are iShares Core S&P Mid Cap ETF, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund. iShares Core S&P Mid Cap ETF owns 4.02 million shares of the company’s stock, all valued at over $41.74 million. The company bought an additional 3635.0 shares recently to bring their total holdings to about 1.31% of the shares outstanding. Vanguard Small Cap Index Fund sold 50587.0 shares to bring its total holdings to over 3.17 million shares at a value of $32.94 million. Vanguard Small Cap Index Fund now owns shares totaling to 1.03% of the shares outstanding.
However, the script later moved the day high at 8.91, up 2.71%. The company’s stock has a 5-day price change of 4.55% and -20.05% over the past three months. HTZ shares are trading -15.98% year to date (YTD), with the 12-month market performance down to -49.30% lower. It has a 12-month low price of $8.10 and touched a high of $20.48 over the same period. HTZ has an average intraday trading volume of 5.01 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -8.47%, -4.97%, and -37.05% respectively.
Institutional ownership of Hertz Global Holdings Inc. (NASDAQ: HTZ) 323.48M shares outstanding. Mutual fund holders own 2.41%, while other institutional holders and individual stakeholders account for 84.00% and 15.18% respectively.
It has a market capitalization of $1.24B and a beta (3y monthly) value of 2.09. The stock’s trailing 12-month PE ratio is 2.95, while the earnings-per-share (ttm) stands at $2.96. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.10% over the week and 4.36% over the month.
Analysts forecast that Hertz Global Holdings Inc. (HTZ) will achieve an EPS of -$0.27 for the current quarter, -$0.07 for the next quarter and $0.99 for 2024. The lowest estimate earnings-per-share for the quarter is -$1.18 while analysts give the company a high EPS estimate of -$0.02. Comparatively, EPS for the current quarter was $0.5 a year ago. Earnings per share for the fiscal year are expected to decrease by -53.35%, and -44.86% over the next financial year.
Looking at the support for the HTZ, a number of firms have released research notes about the stock. Jefferies stated their Hold rating for the stock in a research note on January 19, 2024, with the firm’s price target at $12-$8.
