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.
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|
|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%|