Hertz Global Holdings, Inc (NYSE:HTZ) Short Interest Up 19.0% in June

Hertz Global Holdings, Inc (NYSE:HTZ) was the target of a large growth in short interest in June. As of June 30th, there was short interest totalling 60,090,000 shares, a growth of 19.0% from the June 15th total of 50,490,000 shares. Currently, 42.5% of the company’s shares are sold short. Based on an average daily volume of 70,380,000 shares, the days-to-cover ratio is currently 0.9 days.

Several brokerages recently commented on HTZ. ValuEngine raised shares of Hertz Global from a “hold” rating to a “buy” rating in a report on Tuesday, May 12th. Consumer Edge downgraded shares of Hertz Global from an “equal weight” rating to an “underweight” rating and set a $6.00 price target on the stock. in a report on Friday, March 27th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Hertz Global in a report on Saturday, March 28th. Deutsche Bank reiterated a “hold” rating and issued a $3.00 price objective on shares of Hertz Global in a research note on Monday, June 15th. Finally, Northcoast Research cut shares of Hertz Global from a “buy” rating to a “neutral” rating in a research note on Thursday, April 9th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Hertz Global currently has a consensus rating of “Hold” and an average target price of $8.17.

In other news, CFO Jamere Jackson sold 26,899 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $1.02, for a total value of $27,436.98. Following the sale, the chief financial officer now directly owns 162,409 shares of the company’s stock, valued at approximately $165,657.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Carl C. Icahn sold 55,342,109 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $0.72, for a total transaction of $39,846,318.48. The disclosure for this sale can be found here. Insiders sold a total of 55,414,173 shares of company stock valued at $39,981,724 over the last 90 days. Company insiders own 0.37% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Morgan Stanley grew its stake in shares of Hertz Global by 82.4% during the first quarter. Morgan Stanley now owns 2,841,853 shares of the transportation company’s stock worth $17,563,000 after acquiring an additional 1,283,827 shares during the last quarter. Prentice Capital Management LP purchased a new stake in shares of Hertz Global during the first quarter worth about $345,000. Advisor Group Holdings Inc. purchased a new stake in shares of Hertz Global during the first quarter worth about $41,000. Tower Research Capital LLC TRC grew its stake in shares of Hertz Global by 346.2% during the first quarter. Tower Research Capital LLC TRC now owns 29,344 shares of the transportation company’s stock worth $181,000 after acquiring an additional 22,768 shares during the last quarter. Finally, Thrivent Financial for Lutherans purchased a new stake in shares of Hertz Global during the first quarter worth about $470,000.

Shares of HTZ stock traded up $0.11 on Wednesday, reaching $1.48. The company’s stock had a trading volume of 18,654,200 shares, compared to its average volume of 39,276,438. The stock’s fifty day simple moving average is $1.94 and its 200-day simple moving average is $8.73. Hertz Global has a 1 year low of $0.40 and a 1 year 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. The company has a market capitalization of $194.94 million, a price-to-earnings ratio of -0.89 and a beta of 1.41.

Hertz Global (NYSE:HTZ) last posted its 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 business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Hertz Global had a negative net margin of 2.78% and a negative return on equity of 0.12%. The company’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same period last year, the business posted ($0.99) earnings per share. Equities research analysts forecast that Hertz Global will post -5.03 earnings per share for the current year.

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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