Boothbay Fund Management LLC Takes Position in Herc Holdings Inc. (HRI)
Boothbay Fund Management LLC bought a new stake in Herc Holdings Inc. (NYSE:HRI) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,431 shares of the transportation company’s stock, valued at approximately $218,000.
A number of other institutional investors have also recently made changes to their positions in HRI. Trexquant Investment LP acquired a new stake in Herc in the 2nd quarter valued at approximately $229,000. Schwab Charles Investment Management Inc. grew its stake in Herc by 142.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 228,309 shares of the transportation company’s stock valued at $8,978,000 after purchasing an additional 134,259 shares in the last quarter. Rhumbline Advisers grew its stake in Herc by 9.1% in the second quarter. Rhumbline Advisers now owns 29,518 shares of the transportation company’s stock valued at $1,161,000 after purchasing an additional 2,462 shares in the last quarter. Teton Advisors Inc. grew its stake in Herc by 12.0% in the second quarter. Teton Advisors Inc. now owns 14,000 shares of the transportation company’s stock valued at $550,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew its stake in Herc by 19.5% in the second quarter. Gamco Investors INC. ET AL now owns 3,526,858 shares of the transportation company’s stock valued at $138,676,000 after purchasing an additional 575,971 shares in the last quarter. 99.15% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have weighed in on the company. Barclays assumed coverage on Herc in a research note on Tuesday. They issued an “overweight” rating and a $70.00 price target for the company. Buckingham Research assumed coverage on Herc in a research note on Tuesday, November 21st. They issued a “neutral” rating and a $55.00 price target for the company. Zacks Investment Research upgraded Herc from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research note on Wednesday, October 4th. Finally, ValuEngine upgraded Herc from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $51.33.
Herc Holdings Inc. (HRI) traded up $1.52 on Thursday, reaching $62.46. The company had a trading volume of 465,000 shares, compared to its average volume of 296,966. Herc Holdings Inc. has a twelve month low of $33.27 and a twelve month high of $63.39. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 7.66.
Herc (NYSE:HRI) last released its quarterly earnings results on Wednesday, November 8th. The transportation company reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.23. The business had revenue of $457.60 million during the quarter, compared to the consensus estimate of $422.31 million. Herc had a negative return on equity of 6.63% and a negative net margin of 4.08%. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.11 EPS. research analysts expect that Herc Holdings Inc. will post -0.47 EPS for the current fiscal year.
In related news, Director Jean K. Holley acquired 1,400 shares of the company’s stock in a transaction on Friday, November 10th. The stock was purchased at an average cost of $54.78 per share, with a total value of $76,692.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 0.12% of the stock is owned by insiders.
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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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