Hertz Global Holdings, Inc (HTZ) Shares Bought by Saba Capital Management L.P.

Saba Capital Management L.P. boosted its stake in Hertz Global Holdings, Inc (NYSE:HTZ) by 2.7% during the 1st quarter, HoldingsChannel reports. The firm owned 286,456 shares of the transportation company’s stock after buying an additional 7,481 shares during the quarter. Saba Capital Management L.P.’s holdings in Hertz Global were worth $5,686,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. SeaCrest Wealth Management LLC purchased a new stake in Hertz Global in the 4th quarter worth $181,000. Sei Investments Co. lifted its stake in Hertz Global by 59.3% in the 1st quarter. Sei Investments Co. now owns 8,980 shares of the transportation company’s stock worth $178,000 after purchasing an additional 3,343 shares in the last quarter. NJ State Employees Deferred Compensation Plan purchased a new stake in Hertz Global in the 1st quarter worth $278,000. Wayne Hummer Investments L.L.C. purchased a new stake in Hertz Global in the 4th quarter worth $349,000. Finally, Teacher Retirement System of Texas purchased a new stake in Hertz Global in the 4th quarter worth $382,000.

Shares of Hertz Global opened at $17.90 on Thursday, according to MarketBeat Ratings. The company has a debt-to-equity ratio of 14.77, a quick ratio of 1.57 and a current ratio of 1.57. The stock has a market cap of $1.42 billion, a PE ratio of -11.26 and a beta of 0.04. Hertz Global Holdings, Inc has a 12-month low of $8.52 and a 12-month high of $27.27.

Hertz Global (NYSE:HTZ) last announced its earnings results on Monday, May 7th. The transportation company reported ($1.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.26) by ($0.32). The business had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Hertz Global had a net margin of 3.90% and a negative return on equity of 12.06%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.61) earnings per share. sell-side analysts expect that Hertz Global Holdings, Inc will post -1.06 EPS for the current year.

Several brokerages have commented on HTZ. Goldman Sachs Group decreased their price target on shares of Hertz Global from $15.00 to $13.00 and set a “sell” rating on the stock in a research note on Thursday, February 15th. ValuEngine cut shares of Hertz Global from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Finally, Zacks Investment Research cut shares of Hertz Global from a “hold” rating to a “sell” rating in a research note on Tuesday, May 15th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $15.71.

In other Hertz Global news, CFO Thomas C. Kennedy bought 15,000 shares of the firm’s stock in a transaction dated Thursday, May 10th. The shares were purchased at an average cost of $17.22 per share, for a total transaction of $258,300.00. Following the transaction, the chief financial officer now owns 55,376 shares of the company’s stock, valued at $953,574.72. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.56% of the stock is currently owned by corporate insiders.

Hertz Global 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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