HTZ Carl Icahn More Than Doubles His Stake in Hertz Global Holdings, Despite Disappointing Financial Results

According to the form Form SC 13D/A filed for Hertz Global Holdings Inc. (NYSE:HTZ), the renowned investor, Carl C. Icahn 
bought 15,080,442 shares of the company’s stock, more than doubling his position. The total transaction amounts to $353,334,756.06, calculated at an average price of $23.43 per share. The acquisition was disclosed in a filing with the SEC and can be accessed here

Hertz Global Holdings (NYSE:HTZ) last released its quarterly earnings data on Tuesday, November 8th. The company reported $1.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.73 by $1.15. The firm earned $2.50 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same quarter in the previous year, the business earned $0.49 EPS. Hertz Global Holdings’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, equities research analysts anticipate that Hertz Global Holdings Inc. will post $2.92 earnings per share for the current year.

Hertz Global Holdings, Inc., an airport general use car rental company, engages in the car rental business in North America, Europe, Latin America, Asia, Australia, Africa, the Middle East, and New Zealand. It operates the Hertz, Dollar, Thrifty, and Firefly car rental brands in approximately 9,980 corporate and licensee locations throughout approximately 150 countries. The company provides car rental for small and mid-sized businesses, meetings and conventions, associations/group programs, diversity programs, and government and military travelers. It offers airport general use car rental services serving approximately 1,635 airport locations in the U.S. and approximately 1,320 airport locations internationally. In addition, the company owns the vehicle leasing and fleet management business that operates the Hertz 24/7 hourly car rental business in international markets; and sells vehicles through its Rent2Buy program. Hertz Global Holdings, Inc. is based in Estero, Florida.