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General Motors Company (GM), Micron Technology, Inc. (MU), Hertz Global Holdings Inc (HTZ): Worst Performing Hedge Fund Darlings Of The Week

In the list of companies losing share value last week, Hertz Global Holdings Inc (NYSE:HTZ) is another notable name that struggled, with its shares dropping by 6.93% during the week. An announcement from Hertz Equipment Rental Corporation, the rental equipment arm of Hertz Global Holdings Inc, about its preparation to detach with its parent company triggered the downward rally. Hertz Global approved the separation in March 2014, under which it will be divided into two independent, publicly-traded companies, including Hertz Equipment Rental Corporation, “HERC,” and the remainder of Hertz Global. Hertz Global Holdings Inc (NYSE:HTZ) made another announcement on Friday according to which the company has entered into negotiations with LOXAM Group (Loxam) for the sale of the France and Spain divisions of its rental equipment arm. LOXAM Group would acquire 60 locations in France and two in Spain under the deal, which will allow HERC to focus on maximum profitability and provide maximum value to its shareholders. The hedge fund industry maintains a bearish outlook for the shares of Hertz Global Holdings Inc (NYSE:HTZ) with 63 hedge funds in our database making investments of $5.01 billion as of March 31 against the previous period’s investments of $6.39 billion made by 72 hedge fund investors. Carl Icahn’s Icahn Capital is among the largest shareholders of the company, with a holding worth $1.13 billion, with ownership of 51.92 million shares of Hertz Global. The stock has remained inactive in terms of insider transactions in the past six months.

Disclosure: None

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