Hertz Global Holdings, Inc (NYSE:HTZ) Stock Holdings Raised by World Asset Management Inc

World Asset Management Inc raised its stake in Hertz Global Holdings, Inc (NYSE:HTZ) by 82.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 24,583 shares of the transportation company’s stock after acquiring an additional 11,122 shares during the period. World Asset Management Inc’s holdings in Hertz Global were worth $35,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Hertz Global during the 4th quarter valued at about $24,678,000. Morgan Stanley grew its position in shares of Hertz Global by 82.4% during the 1st quarter. Morgan Stanley now owns 2,841,853 shares of the transportation company’s stock valued at $17,563,000 after buying an additional 1,283,827 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Hertz Global by 2,689.8% during the 1st quarter. Victory Capital Management Inc. now owns 726,678 shares of the transportation company’s stock valued at $4,491,000 after buying an additional 700,630 shares during the last quarter. Nuveen Asset Management LLC grew its position in shares of Hertz Global by 107.2% during the 4th quarter. Nuveen Asset Management LLC now owns 1,095,128 shares of the transportation company’s stock valued at $17,248,000 after buying an additional 566,593 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Hertz Global by 114.1% during the 1st quarter. JPMorgan Chase & Co. now owns 502,535 shares of the transportation company’s stock valued at $3,106,000 after buying an additional 267,856 shares during the last quarter.

Shares of NYSE:HTZ opened at $1.45 on Friday. The company has a 50 day moving average of $1.63 and a 200-day moving average of $7.07. The firm has a market cap of $210.60 million, a P/E ratio of -0.87 and a beta of 1.41. Hertz Global Holdings, Inc has a twelve month low of $0.40 and a twelve month high of $20.85. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 13.81.

Hertz Global (NYSE:HTZ) last issued its quarterly earnings results on Monday, May 11th. The transportation company reported ($1.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.59). The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.99 billion. Hertz Global had a negative return on equity of 0.12% and a negative net margin of 2.78%. The company’s revenue was down 8.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.99) earnings per share. Equities research analysts forecast that Hertz Global Holdings, Inc will post -5.03 EPS for the current year.

In related news, Director Vincent J. Intrieri sold 18,439 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $4.31, for a total value of $79,472.09. Following the sale, the director now directly owns 18,921 shares in the company, valued at approximately $81,549.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jamere Jackson sold 26,899 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $1.02, for a total transaction of $27,436.98. Following the completion of the sale, the chief financial officer now owns 162,409 shares in the company, valued at $165,657.18. The disclosure for this sale can be found here. Insiders sold a total of 55,414,173 shares of company stock worth $39,981,724 over the last quarter. Insiders own 0.37% of the company’s stock.

HTZ has been the subject of a number of recent research reports. Morgan Stanley lowered 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. Deutsche Bank reissued a “hold” rating and set a $3.00 target price on shares of Hertz Global in a research note on Monday, June 15th. ValuEngine raised shares of Hertz Global from a “hold” rating to a “buy” rating in a research note on Tuesday, May 12th. Finally, JPMorgan Chase & Co. lowered shares of Hertz Global from a “neutral” rating to an “underweight” rating in a research note on Thursday, April 23rd. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $8.17.

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

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