Some Traders See Unusual Bearish Options Activity in Hertz Global Holdings, Inc

 Some Traders See Unusual Bearish Options Activity in Hertz Global Holdings, Inc

In today’s session Hertz Global Holdings, Inc (HTZ) recorded an unusually high (2,734) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious HTZ decrease. With 2,734 contracts traded and 7124 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: HTZ161021P00040000 closed last at: $1.65 or 29.8% down. About 886,087 shares traded hands. Hertz Global Holdings, Inc (NYSE:HTZ) has risen 6.00% since September 4, 2016 and is uptrending. It has underperformed by 3.24% the S&P500.

Analysts await Hertz Global Holdings, Inc (NYSE:HTZ) to report earnings on November, 14. HTZ’s profit will be $249.91 million for 3.37 P/E if the $2.95 EPS becomes a reality. After $0.41 actual earnings per share reported by Hertz Global Holdings, Inc for the previous quarter, Wall Street now forecasts 619.51% EPS growth.

Hertz Global Holdings, Inc (NYSE:HTZ) Ratings Coverage

Out of 8 analysts covering Hertz Global Holdings Inc. (NYSE:HTZ), 4 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 50% are positive. $68 is the highest target while $12 is the lowest. The $36 average target is -9.50% below today’s ($39.78) stock price. Hertz Global Holdings Inc. has been the topic of 24 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Hertz Global Holdings, Inc (NYSE:HTZ) has “Sell” rating given on Friday, October 23 by TheStreet. The rating was maintained by Credit Suisse with “Outperform” on Wednesday, March 2. Credit Suisse downgraded the shares of HTZ in a report on Tuesday, April 12 to “Neutral” rating. The rating was initiated by Sterne Agee CRT on Tuesday, March 22 with “Neutral”. The firm earned “Overweight” rating on Friday, March 11 by Morgan Stanley. The company was maintained on Tuesday, November 10 by M Partners. On Thursday, August 13 the stock rating was maintained by Deutsche Bank with “Buy”. The stock of Hertz Global Holdings, Inc (NYSE:HTZ) has “Buy” rating given on Thursday, August 13 by Goldman Sachs. The stock of Hertz Global Holdings, Inc (NYSE:HTZ) earned “Buy” rating by Deutsche Bank on Wednesday, August 10. The firm has “Buy” rating by M Partners given on Friday, July 1.

Insitutional Activity: The institutional sentiment decreased to 0.42 in 2016 Q2. Its down 0.79, from 1.21 in 2016Q1. The ratio dropped, as 136 funds sold all Hertz Global Holdings, Inc shares owned while 77 reduced positions. 29 funds bought stakes while 61 increased positions. They now own 262.25 million shares or 33.32% less from 393.29 million shares in 2016Q1.
Dimensional Fund Advsrs Lp reported 5.23M shares or 0.03% of all its holdings. Ascend Ltd has invested 1.24% of its portfolio in Hertz Global Holdings, Inc (NYSE:HTZ). Seven Eight Lc reported 231 shares or 0.01% of all its holdings. Moreover, Voya Inv Management Ltd Liability has 0% invested in Hertz Global Holdings, Inc (NYSE:HTZ) for 125,930 shares. Pnc Fincl Svcs Group Incorporated, a Pennsylvania-based fund reported 131,154 shares. State Street last reported 5.72M shares in the company. General Com Inc has invested 1.09% of its portfolio in Hertz Global Holdings, Inc (NYSE:HTZ). Allianz Asset Ag, a Germany-based fund reported 11,000 shares. Sg Americas Secs Lc holds 0% or 34,286 shares in its portfolio. Glg Limited Liability Com accumulated 31,233 shares or 0.03% of the stock. Greenwich Wealth Mngmt Ltd Com has 0.16% invested in the company for 33,703 shares. Raymond James Associates has invested 0% of its portfolio in Hertz Global Holdings, Inc (NYSE:HTZ). Private Tru Company Na has invested 0.19% of its portfolio in Hertz Global Holdings, Inc (NYSE:HTZ). Northern Corp, a Illinois-based fund reported 1.48M shares. The Wisconsin-based State Of Wisconsin Invest Board has invested 0.01% in Hertz Global Holdings, Inc (NYSE:HTZ).

Insider Transactions: Since May 13, 2016, the stock had 7 buys, and 0 sales for $11.66 million net activity. Shares for $495,950 were bought by Foland Jeffrey T.. The insider ICAHN CARL C bought 983,929 shares worth $9.74 million. 10,000 shares were bought by Marren Alexandria Panot, worth $98,963 on Thursday, June 2. Browning James H bought $49,410 worth of stock or 1,500 shares. 45,000 Hertz Global Holdings, Inc (NYSE:HTZ) shares with value of $451,080 were bought by Best Tyler. $310,400 worth of Hertz Global Holdings, Inc (NYSE:HTZ) shares were bought by Kennedy Thomas C. $517,352 worth of Hertz Global Holdings, Inc (NYSE:HTZ) was bought by TAGUE JOHN P.

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