What’s Ahead for Hertz Global Holdings, Inc After Today’s Bearish Options Activity?

 What's Ahead for Hertz Global Holdings, Inc After Today's Bearish Options Activity?

In today’s session Hertz Global Holdings, Inc (HTZ) recorded an unusually high (553) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious HTZ decrease. With 553 contracts traded and 2994 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: HTZ161118P00032500 closed last at: $0.85 or 41.4% down. About 7.39M shares traded hands or 45.47% up from the average. Hertz Global Holdings, Inc (NYSE:HTZ) has risen 6.00% since October 10, 2016 and is uptrending. It has outperformed by 1.22% the S&P500.

Analysts await Hertz Global Holdings, Inc (NYSE:HTZ) to report earnings on November, 14. HTZ’s profit will be $233.80 million for 2.46 P/E if the $2.95 EPS becomes a reality. After $0.41 actual EPS 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 9 analysts covering Hertz Global Holdings Inc. (NYSE:HTZ), 2 rate it a “Buy”, 2 “Sell”, while 5 “Hold”. This means 22% are positive. Hertz Global Holdings Inc. has been the topic of 27 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Deutsche Bank maintained Hertz Global Holdings, Inc (NYSE:HTZ) on Thursday, August 13 with “Buy” rating. The company was initiated on Tuesday, March 22 by Sterne Agee CRT. The rating was upgraded by Morgan Stanley on Friday, March 11 to “Overweight”. TheStreet downgraded the stock to “Sell” rating in Friday, October 23 report. M Partners maintained it with “Buy” rating and $26 target price in Tuesday, November 10 report. The stock has “Buy” rating given by Deutsche Bank on Wednesday, August 10. The stock has “Buy” rating given by Goldman Sachs on Thursday, August 13. The rating was downgraded by Deutsche Bank to “Hold” on Tuesday, November 8. Credit Suisse downgraded the stock to “Neutral” rating in Tuesday, April 12 report. The stock of Hertz Global Holdings, Inc (NYSE:HTZ) earned “Buy” rating by M Partners on Friday, July 1.

According to Zacks Investment Research, “Hertz Global Holdings, Inc. operates car rental business. The company’s product and services consists of Hertz Gold Plus Rewards, NeverLost(R), Carfirmations, Mobile Wi-Fi and unique vehicles offered through the Adrenaline, Dream, Green and Prestige Collections. It operates primarily in North America, Europe, Latin America, Asia, Australia, Africa, the Middle East and New Zealand. Hertz Global Holdings, Inc. is based in FL, United States.”

Insitutional Activity: The institutional sentiment decreased to 0.42 in Q2 2016. Its down 0.79, from 1.21 in 2016Q1. The ratio worsened, 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.
First Mercantile Tru holds 0.02% or 15,500 shares in its portfolio. Havens Ltd Liability Corp has 8,785 shares for 0.07% of their US portfolio. Moreover, Prns Lc has 0.6% invested in Hertz Global Holdings, Inc (NYSE:HTZ) for 679,400 shares. Petrus Tru Co Lta holds 0.03% or 13,003 shares in its portfolio. Parallax Volatility Advisers Lp has 0% invested in the company for 28,593 shares. Gabelli Secs Inc, a New York-based fund reported 167,486 shares. Gam Ag reported 30,000 shares or 0.01% of all its holdings. Private Advisor Gp Limited Liability Co holds 0.01% of its portfolio in Hertz Global Holdings, Inc (NYSE:HTZ) for 18,834 shares. Morgan Stanley has 0.02% invested in the company for 4.80 million shares. Twin Securities has 1.51 million shares for 3.02% of their US portfolio. Pentwater Limited Partnership last reported 12,000 shares in the company. Dubuque Bank & Trust Trust last reported 0% of its portfolio in the stock. Timber Hill Ltd Co holds 0.01% or 137,094 shares in its portfolio. Skylands Lc last reported 0.06% of its portfolio in the stock. The New York-based Jefferies Group Incorporated has invested 0.01% in Hertz Global Holdings, Inc (NYSE:HTZ).

Insider Transactions: Since May 13, 2016, the stock had 4 insider purchases, and 0 insider sales for $10.34 million net activity. ICAHN CARL C bought $9.74 million worth of stock. The insider Best Tyler bought 45,000 shares worth $451,080. 40,000 Hertz Global Holdings, Inc (NYSE:HTZ) shares with value of $310,400 were bought by Kennedy Thomas C. Browning James H had bought 1,500 shares worth $49,410. The insider TAGUE JOHN P bought $517,352. Shares for $98,963 were bought by Marren Alexandria Panot. Foland Jeffrey T. bought $495,950 worth of stock or 65,000 shares.

HTZ Company Profile

Herc Holdings Inc., incorporated on July 15, 2005, is an equipment rental supplier. The Firm operates approximately 280 branches, of which approximately 270 are in the United States and Canada. The Firm supplies equipment to the markets, including commercial and residential construction, industrial and manufacturing, refineries and petrochemicals, civil infrastructure, automotive, government and municipalities, energy, remediation, emergency response, facilities, entertainment and agriculture. The Firm operates through its Herc Rentals Inc. subsidiary.

More notable recent Hertz Global Holdings, Inc (NYSE:HTZ) news were published by: Bloomberg.com which released: “Hertz’s Shares Tumble 23% After Profit Misses Estimates” on November 08, 2016, also Nasdaq.com with their article: “Earnings Reaction History: Hertz Global Holdings, Inc., 40.0% Follow-Through …” published on November 07, 2016, Blogs.Wsj.com published: “Stocks to Watch: Valeant, CVS Health, Hertz Global” on November 08, 2016. More interesting news about Hertz Global Holdings, Inc (NYSE:HTZ) were released by: Nasdaq.com and their article: “RSI Alert: Hertz Global Holdings (HTZ) Now Oversold” published on November 08, 2016 as well as Reuters.com‘s news article titled: “BRIEF-Icahn reports 33.77 PCT stake in Hertz Global Holdings” with publication date: November 08, 2016.

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