Clear Harbor Asset Management LLC lessened its holdings in shares of Hertz Global Holdings, Inc (NYSE:HTZ) by 25.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,600 shares of the transportation company’s stock after selling 3,900 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Hertz Global were worth $201,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Bronfman E.L. Rothschild L.P. boosted its position in shares of Hertz Global by 177.8% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 2,278 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 1,458 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Hertz Global during the 4th quarter valued at about $38,000. Nisa Investment Advisors LLC raised its holdings in shares of Hertz Global by 3,114.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 9,805 shares of the transportation company’s stock valued at $134,000 after buying an additional 9,500 shares in the last quarter. Edge Capital Group LLC purchased a new position in shares of Hertz Global during the 4th quarter valued at about $138,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Hertz Global by 121.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,626 shares of the transportation company’s stock valued at $159,000 after buying an additional 6,367 shares in the last quarter.
Shares of Hertz Global stock opened at $17.32 on Friday. The company has a debt-to-equity ratio of 14.57, a quick ratio of 1.61 and a current ratio of 1.61. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of -101.88 and a beta of 1.95. Hertz Global Holdings, Inc has a one year low of $13.01 and a one year high of $22.70.
A number of brokerages recently weighed in on HTZ. Zacks Investment Research raised Hertz Global from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Wednesday, April 10th. TheStreet cut Hertz Global from a “c” rating to a “d+” rating in a report on Monday, March 25th. ValuEngine raised Hertz Global from a “hold” rating to a “buy” rating in a report on Tuesday, March 5th. Deutsche Bank raised their price objective on Hertz Global from $18.00 to $21.00 and gave the company a “hold” rating in a report on Wednesday, February 27th. Finally, Barclays raised Hertz Global from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $14.00 to $18.00 in a report on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $18.00.
In other Hertz Global news, major shareholder Carl C. Icahn sold 5,000,000 shares of Hertz Global stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $19.45, for a total value of $97,250,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.56% of the stock is owned by insiders.
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About Hertz Global
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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