Is Hertz Global Holdings, Inc. (NYSE:HTZ) a buy, sell, or hold? Prominent investors are taking a bullish view. The number of bullish hedge fund bets went up by 11 lately.
In the 21st century investor’s toolkit, there are plenty of methods shareholders can use to analyze Mr. Market. A couple of the best are hedge fund and insider trading movement. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the top hedge fund managers can outclass the S&P 500 by a very impressive margin (see just how much).
Equally as integral, bullish insider trading activity is another way to break down the financial markets. As the old adage goes: there are plenty of stimuli for a corporate insider to sell shares of his or her company, but only one, very simple reason why they would behave bullishly. Various empirical studies have demonstrated the valuable potential of this method if “monkeys” understand where to look (learn more here).
Consequently, we’re going to take a peek at the key action regarding Hertz Global Holdings, Inc. (NYSE:HTZ).
What does the smart money think about Hertz Global Holdings, Inc. (NYSE:HTZ)?
Heading into Q2, a total of 68 of the hedge funds we track were long in this stock, a change of 19% from the first quarter. With hedgies’ sentiment swirling, there exists a select group of key hedge fund managers who were increasing their stakes considerably.
When looking at the hedgies we track, York Capital Management, managed by James Dinan, holds the most valuable position in Hertz Global Holdings, Inc. (NYSE:HTZ). York Capital Management has a $242.6 million position in the stock, comprising 5.3% of its 13F portfolio. Coming in second is Glenn Russell Dubin of Highbridge Capital Management, with a $200.2 million position; the fund has 2.3% of its 13F portfolio invested in the stock. Some other hedge funds that hold long positions include Donald Chiboucis’s Columbus Circle Investors, Rob Citrone’s Discovery Capital Management and Jeffrey Tannenbaum’s Fir Tree.
As industrywide interest jumped, key hedge funds have jumped into Hertz Global Holdings, Inc. (NYSE:HTZ) headfirst. Capital Growth Management, managed by Ken Heebner, initiated the biggest position in Hertz Global Holdings, Inc. (NYSE:HTZ). Capital Growth Management had 108.4 million invested in the company at the end of the quarter. Kevin D. Eng’s Columbus Hill Capital Management also initiated a $46.5 million position during the quarter. The following funds were also among the new HTZ investors: Christopher Medlock James’s Partner Fund Management, Robert B. Gillam’s McKinley Capital Management, and Larry Foley and Paul Farrell’s Bronson Point Partners.
Insider trading activity in Hertz Global Holdings, Inc. (NYSE:HTZ)
Insider buying is best served when the company in question has experienced transactions within the past 180 days. Over the last half-year time period, Hertz Global Holdings, Inc. (NYSE:HTZ) has experienced 1 unique insiders purchasing, and 18 insider sales (see the details of insider trades here).
Let’s also take a look at hedge fund and insider activity in other stocks similar to Hertz Global Holdings, Inc. (NYSE:HTZ). These stocks are Avis Budget Group Inc. (NASDAQ:CAR), Ryder System, Inc. (NYSE:R), AMERCO (NASDAQ:UHAL), United Rentals, Inc. (NYSE:URI), and SBA Communications Corporation (NASDAQ:SBAC). This group of stocks are in the rental & leasing services industry and their market caps match HTZ’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Avis Budget Group Inc. (NASDAQ:CAR) | 33 | 0 | 9 |
| Ryder System, Inc. (NYSE:R) | 24 | 0 | 10 |
| AMERCO (NASDAQ:UHAL) | 13 | 0 | 1 |
| United Rentals, Inc. (NYSE:URI) | 50 | 0 | 8 |
| SBA Communications Corporation (NASDAQ:SBAC) | 37 | 0 | 7 |
With the results exhibited by the aforementioned tactics, retail investors should always pay attention to hedge fund and insider trading activity, and Hertz Global Holdings, Inc. (NYSE:HTZ) is no exception.
