Daiwa Securities Group Inc. lessened its holdings in Hertz Global Holdings Inc (NYSE:HRI) by 40.9% during the fourth quarter, HoldingsChannel reports. The firm owned 35,600 shares of the transportation company’s stock after selling 24,600 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Hertz Global were worth $2,229,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of HRI. Fox Run Management L.L.C. acquired a new stake in shares of Hertz Global in the 3rd quarter valued at $201,000. Boothbay Fund Management LLC acquired a new stake in shares of Hertz Global in the 3rd quarter valued at $218,000. Eqis Capital Management Inc. acquired a new stake in shares of Hertz Global in the 3rd quarter valued at $286,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Hertz Global in the 2nd quarter valued at $372,000. Finally, Voya Investment Management LLC boosted its holdings in shares of Hertz Global by 35.8% in the 2nd quarter. Voya Investment Management LLC now owns 10,737 shares of the transportation company’s stock valued at $422,000 after purchasing an additional 2,832 shares in the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.
HRI has been the topic of a number of research analyst reports. Buckingham Research initiated coverage on Hertz Global in a report on Tuesday, November 21st. They issued a “neutral” rating and a $55.00 target price on the stock. KeyCorp reaffirmed a “buy” rating and issued a $68.00 target price on shares of Hertz Global in a report on Monday, December 18th. Northcoast Research reaffirmed a “neutral” rating on shares of Hertz Global in a report on Tuesday, December 19th. Barclays assumed coverage on Hertz Global in a research note on Tuesday, December 12th. They issued an “overweight” rating and a $70.00 price target for the company. Finally, Royal Bank of Canada assumed coverage on Hertz Global in a research note on Friday, February 2nd. They issued an “outperform” rating and a $79.00 price target for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $57.00.
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Hertz Global Company Profile
Hertz Global Holdings, Inc (Hertz Global) is a holding company. The Company owns Rental Car Intermediate Holdings, LLC, which owns Hertz Corporation (Hertz), Hertz Global’s primary operating company. The Company operates through three segments. The U.S. Car Rental (U.S. RAC) segment is engaged in the rental of vehicles, such as cars, crossovers and light trucks, as well as ancillary products and services, in the United States.
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