On July 1, Herc Holding Inc (NYSE:HRI) completed its separation from Hertz Global Holdings (NYSE:HTZ) and began trading as an independent public company. According to a new 13D filing with the Securities and Exchange Commission, billionaire Mario Gabelli‘s GAMCO Investors and its affiliates hold 1.6 million common shares of Herc Holdings, which amass 5.64% of the company’s outstanding stock, with GAMCO itself owning 1.26 million shares, which account for 4.46% of the company’s outstanding stock. Prior to the separation, GAMCO held almost 7.00 million shares of Hertz Global Holdings (NYSE:HTZ), as disclosed in its 13F filing for the reporting period of June 30.
Herc Holdings is a holding company that mainly operates leasing and renting cars business, working through brands in four sectors: International Car Rental, U.S. Car Rental, Worldwide Equipment Rental, and All Other Operations. Since the company started trading at the beginning of July, its shares have lost 0.21%. In its first financial report since the separation, Herc Holdings (NYSE:HRI) reported a loss per share of $0.28, and a net loss of $8.00 million for the second quarter, compared to earnings per share of $0.35 and net income of $10.6 million attributed to it for the same quarter of the previous year.
Carl Icahn’s Icahn Capital reported owning 4.31 million shares of Herc Holdings (NYSE:HRI) as of June 30, equal to 15.24% of the company’s outstanding stock. Icahn Capital is the only other hedge fund in our database that has filed on the company thus far.
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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 | 311,230 | 311,230 | 311,230 | 1.10% | ||
| GAMCO Asset Management Inc. I.D. No. 13-40445 | 1,178,176 | 1,261,901 | 1,261,901 | 4.46% | ||
| Gabelli Securities, Inc. I.D. No. 13-3379374 | 4,766 | 4,766 | 4,766 | 0.02% | ||
| Gabelli Foundation, Inc. I.D. No. 94 | 3,600 | 3,600 | 3,600 | 0.01% | ||
| 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 | 276 | 276 | 276 | 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% |
