A newly-amended 13D filing with the US Securities and Exchange Commission revealed that billionaire Mario Gabelli‘s GAMCO Investors has further increased its stake in Herc Holdings Inc (NYSE:HRI) and that it currently holds, in aggregate with its affiliates, 2.27 million common shares, which amass 8.01% of the company’s outstanding stock. Out of the aggregate amount, GAMCO solely owns 1.82 million shares or 6.42% of the total outstanding stock. Previously, GAMCO Investors and its affiliates held 1.95 million shares that represented 6.88% of the outstanding stock, while GAMCO alone owned 1.52 million shares, or 5.37% of the shares outstanding, according to its last 13D filing.
Herc Holdings, recently separated from Hertz Global Holdings (NYSE:HTZ), is a holding company engaged in the business of renting car and leasing, running in four sectors: US Car Rental, International Car Rental, Worldwide Equipment Rental and All Other Operations. Since the company started trading on July 1st, its shares have lost 0.85%. In its first financial report, since the separation, for the second quarter of 2016, Herc Holdings (NYSE:HRI) disclosed a loss per share of $0.28 and a net loss of $8.00 million, compared with earnings per share of $0.35 and a net income of $10.6 million in the comparable period in 2015.
Billionaire Carl Icahn’s Icahn Capital LP disclosed holding 4.31 million shares of Herc Holdings (NYSE:HRI) at the end of June, which account for 15.24% of the company’s outstanding stock. For now, Icahn Capital is the only other hedge fund in Insider Monkey’s database that has filed on the company.
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You can access the original SEC filing by clicking here.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| Gabelli Funds | 423,102 | 423,102 | 423,102 | 1.49% | ||
| GAMCO Asset Management Inc. I.D. No. 13-40445 | 1,709,246 | 1,816,971 | 1,816,971 | 6.42% | ||
| Gabelli Securities, Inc. I.D. No. 13-3379374 | 5,532 | 5,532 | 5,532 | 0.02% | ||
| Gabelli Foundation, Inc. I.D. No. 94 | 7,800 | 7,800 | 7,800 | 0.03% | ||
| MJG-IV Limited Partnership I.D. No. 13-31918 | 733 | 733 | 733 | 0.00% | ||
| GGCP, Inc. I.D. No. 13-3056041 | 799 | 799 | 799 | 0.00% | ||
| GAMCO Investors, Inc. I.D. No. 13-400786 | 308 | 308 | 308 | 0.00% | ||
| Associated Capital Group, Inc. I.D. No. 47-3965991 Check the appropriate box if a member of a group (SEE INSTRUCTIONS) (a) (b) | 0.00% | |||||
| Mario J. Gabelli | 12,785 | 12,785 | 12,785 | 0.04% |
