Short Interest in Hertz Global Holdings, Inc (NYSE:HTZ) Grows By 6.2%

Hertz Global Holdings, Inc (NYSE:HTZ) saw a large growth in short interest in July. As of July 15th, there was short interest totalling 27,156,400 shares, a growth of 6.2% from the June 15th total of 25,572,800 shares. Approximately 32.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,540,000 shares, the days-to-cover ratio is presently 7.7 days.

Shares of NYSE HTZ traded up $0.12 during midday trading on Tuesday, reaching $16.13. The stock had a trading volume of 3,329,572 shares, compared to its average volume of 3,084,461. The company has a market cap of $2.28 billion, a price-to-earnings ratio of -94.88 and a beta of 2.12. Hertz Global has a twelve month low of $13.01 and a twelve month high of $22.37. The company has a debt-to-equity ratio of 18.68, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a 50 day simple moving average of $16.13.

Hertz Global (NYSE:HTZ) last issued its quarterly earnings results on Monday, May 6th. The transportation company reported ($0.99) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.32) by $0.33. The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.12 billion. Hertz Global had a negative net margin of 1.78% and a positive return on equity of 3.17%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.58) EPS. On average, equities research analysts expect that Hertz Global will post 1.06 earnings per share for the current year.

Several brokerages recently issued reports on HTZ. Zacks Investment Research lowered shares of Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Deutsche Bank lifted their price target on shares of Lululemon Athletica from $204.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Finally, TheStreet lowered shares of VF from a “b+” rating to a “c” rating in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $18.33.

Several hedge funds and other institutional investors have recently modified their holdings of HTZ. Commerzbank Aktiengesellschaft FI grew its holdings in shares of Hertz Global by 25.3% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 519,082 shares of the transportation company’s stock worth $8,285,000 after purchasing an additional 104,888 shares during the last quarter. World Asset Management Inc bought a new position in shares of Hertz Global in the second quarter worth approximately $182,000. First Trust Advisors LP grew its holdings in shares of Hertz Global by 12.9% in the first quarter. First Trust Advisors LP now owns 155,872 shares of the transportation company’s stock worth $2,707,000 after purchasing an additional 17,779 shares during the last quarter. Redwood Investment Management LLC grew its holdings in shares of Hertz Global by 6.8% in the first quarter. Redwood Investment Management LLC now owns 56,632 shares of the transportation company’s stock worth $984,000 after purchasing an additional 3,624 shares during the last quarter. Finally, Marshall Wace North America L.P. bought a new position in shares of Hertz Global in the first quarter worth approximately $684,000.

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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