Hertz Global Holdings, Inc (NYSE:HTZ) Shares Acquired by World Asset Management Inc

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World Asset Management Inc lifted its holdings in shares of Hertz Global Holdings, Inc (NYSE:HTZ) by 82.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,583 shares of the transportation company’s stock after buying an additional 11,122 shares during the period. World Asset Management Inc’s holdings in Hertz Global were worth $35,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Morgan Stanley boosted its stake in shares of Hertz Global by 82.4% during the first quarter. Morgan Stanley now owns 2,841,853 shares of the transportation company’s stock worth $17,563,000 after buying an additional 1,283,827 shares during the period. Norges Bank acquired a new stake in Hertz Global in the fourth quarter valued at about $24,678,000. Geode Capital Management LLC lifted its position in Hertz Global by 8.1% in the first quarter. Geode Capital Management LLC now owns 1,404,424 shares of the transportation company’s stock valued at $8,679,000 after purchasing an additional 105,106 shares during the period. Nuveen Asset Management LLC lifted its position in Hertz Global by 107.2% in the fourth quarter. Nuveen Asset Management LLC now owns 1,095,128 shares of the transportation company’s stock valued at $17,248,000 after purchasing an additional 566,593 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Hertz Global by 2,689.8% in the first quarter. Victory Capital Management Inc. now owns 726,678 shares of the transportation company’s stock valued at $4,491,000 after purchasing an additional 700,630 shares during the period.

In other news, CFO Jamere Jackson sold 26,899 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $1.02, for a total transaction of $27,436.98. Following the completion of the transaction, the chief financial officer now directly owns 162,409 shares of the company’s stock, valued at approximately $165,657.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Carl C. Icahn sold 55,342,109 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $0.72, for a total transaction of $39,846,318.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,414,173 shares of company stock valued at $39,981,724. Corporate insiders own 0.37% of the company’s stock.

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. downgraded shares of Hertz Global from a “neutral” rating to an “underweight” rating in a research report on Thursday, April 23rd. Deutsche Bank restated a “hold” rating and issued a $3.00 price objective on shares of Hertz Global in a research report on Monday, June 15th. Morgan Stanley reduced their price objective on shares of Hertz Global from $5.00 to $2.00 and set an “underweight” rating for the company in a research report on Tuesday, April 21st. Northcoast Research downgraded shares of Hertz Global from a “buy” rating to a “neutral” rating in a research report on Thursday, April 9th. Finally, Barclays cut shares of Hertz Global from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $10.00 to $2.00 in a report on Monday, April 27th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $8.17.

Shares of HTZ opened at $1.45 on Friday. The company has a debt-to-equity ratio of 13.81, a current ratio of 2.19 and a quick ratio of 2.19. The firm has a 50 day simple moving average of $1.63 and a 200-day simple moving average of $7.07. Hertz Global Holdings, Inc has a 1-year low of $0.40 and a 1-year high of $20.85. The stock has a market cap of $210.60 million, a price-to-earnings ratio of -0.87 and a beta of 1.41.

Hertz Global (NYSE:HTZ) last issued its quarterly earnings data on Monday, May 11th. The transportation company reported ($1.78) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.19) by ($0.59). Hertz Global had a negative return on equity of 0.12% and a negative net margin of 2.78%. The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.99 billion. During the same period last year, the business earned ($0.99) earnings per share. The company’s revenue for the quarter was down 8.7% on a year-over-year basis. On average, equities analysts expect that Hertz Global Holdings, Inc will post -5.03 earnings per share for the current fiscal year.

Hertz Global Company Profile

The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc, operates the Hertz, Dollar and Thrifty vehicle rental brands in approximately 9,700 corporate and franchisee locations throughout North America, Europe, The Caribbean, Latin America, Africa, the Middle East, Asia, Australia, and New Zealand.

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Institutional Ownership by Quarter for Hertz Global (NYSE:HTZ)

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