An issue of Hertz Global Holdings, Inc (NYSE:HTZ) bonds rose 1.4% as a percentage of their face value during trading on Monday. The high-yield issue of debt has a 6.25% coupon and will mature on October 15, 2022. The bonds in the issue are now trading at $91.68 and were trading at $89.72 last week. Price changes in a company’s bonds in credit markets often anticipate parallel changes in its stock price.
A number of research firms have recently issued reports on HTZ. Goldman Sachs Group lowered their target price on Hertz Global from $15.00 to $13.00 and set a “sell” rating for the company in a research note on Thursday, February 15th. ValuEngine lowered Hertz Global from a “hold” rating to a “sell” rating in a research note on Thursday, February 15th. Finally, Zacks Investment Research upgraded Hertz Global from a “sell” rating to a “hold” rating and set a $20.00 target price for the company in a research note on Wednesday, May 9th. Four analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $15.71.
Shares of HTZ stock traded up $1.00 during trading hours on Monday, reaching $16.90. The company had a trading volume of 5,810,171 shares, compared to its average volume of 3,295,475. The company has a debt-to-equity ratio of 14.77, a quick ratio of 1.57 and a current ratio of 1.57. Hertz Global Holdings, Inc has a twelve month low of $8.52 and a twelve month high of $27.27. The firm has a market cap of $1.34 billion, a P/E ratio of -10.63 and a beta of 0.04.
In other Hertz Global news, CFO Thomas C. Kennedy purchased 15,000 shares of Hertz Global stock in a transaction that occurred on Thursday, May 10th. The stock was purchased at an average price of $17.22 per share, with a total value of $258,300.00. Following the completion of the acquisition, the chief financial officer now owns 55,376 shares of the company’s stock, valued at approximately $953,574.72. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.56% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Neuberger Berman Group LLC boosted its holdings in Hertz Global by 16.2% in the first quarter. Neuberger Berman Group LLC now owns 1,207,707 shares of the transportation company’s stock valued at $23,970,000 after purchasing an additional 168,603 shares during the last quarter. Spark Investment Management LLC purchased a new position in Hertz Global in the fourth quarter valued at about $4,888,000. Two Sigma Advisers LP boosted its holdings in Hertz Global by 611.8% in the fourth quarter. Two Sigma Advisers LP now owns 104,595 shares of the transportation company’s stock valued at $2,312,000 after purchasing an additional 89,900 shares during the last quarter. Wayne Hummer Investments L.L.C. purchased a new position in Hertz Global in the fourth quarter valued at about $349,000. Finally, BlackRock Inc. boosted its holdings in Hertz Global by 3.8% in the fourth quarter. BlackRock Inc. now owns 4,357,336 shares of the transportation company’s stock valued at $96,297,000 after purchasing an additional 157,534 shares during the last quarter.
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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