IndexIQ Advisors LLC Invests $1.58 Million in Hertz Global Holdings, Inc (HTZ)

IndexIQ Advisors LLC acquired a new position in Hertz Global Holdings, Inc (NYSE:HTZ) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 91,013 shares of the transportation company’s stock, valued at approximately $1,581,000.

Several other hedge funds have also bought and sold shares of the company. Bronfman E.L. Rothschild L.P. raised its position in shares of Hertz Global by 177.8% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 2,278 shares of the transportation company’s stock worth $31,000 after acquiring an additional 1,458 shares in the last quarter. Investors Research Corp bought a new position in shares of Hertz Global in the 1st quarter worth about $38,000. Creative Planning raised its position in shares of Hertz Global by 2.9% in the 4th quarter. Creative Planning now owns 89,072 shares of the transportation company’s stock worth $1,216,000 after acquiring an additional 2,500 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Hertz Global in the 4th quarter worth about $38,000. Finally, Exane Derivatives bought a new position in shares of Hertz Global in the 1st quarter worth about $51,000.

Shares of HTZ opened at $16.35 on Friday. The company has a debt-to-equity ratio of 18.68, a current ratio of 1.33 and a quick ratio of 1.33. The stock has a market capitalization of $1.44 billion, a PE ratio of 41.71 and a beta of 1.95. Hertz Global Holdings, Inc has a one year low of $13.01 and a one year high of $22.37.

Hertz Global (NYSE:HTZ) last issued its earnings results on Monday, May 6th. The transportation company reported ($0.99) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.32) by $0.33. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.12 billion. Hertz Global had a positive return on equity of 3.17% and a negative net margin of 1.78%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the business posted ($1.58) EPS. On average, sell-side analysts forecast that Hertz Global Holdings, Inc will post 0.94 earnings per share for the current fiscal year.

Several research analysts have recently weighed in on the company. Zacks Investment Research lowered Hertz Global from a “buy” rating to a “hold” rating in a research report on Thursday, April 11th. TheStreet lowered Hertz Global from a “c” rating to a “d+” rating in a research report on Monday, March 25th. Barclays raised Hertz Global from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $14.00 to $18.00 in a research report on Friday, March 1st. ValuEngine raised Hertz Global from a “hold” rating to a “buy” rating in a research report on Tuesday, March 5th. Finally, Northcoast Research raised Hertz Global from a “neutral” rating to a “buy” rating in a research report on Monday, March 4th. Two analysts have rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $18.33.

In other news, major shareholder Carl C. Icahn sold 5,000,000 shares of the firm’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.31% of the company’s stock.

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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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