Herc Holdings Inc (HRI): Billionaire Mario Gabelli’s GAMCO Investors Boosts Its Stake

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A newly-amended 13D filing with the Securities and Exchange Commission revealed that billionaire Mario Gabelli‘s GAMCO Investors and its affiliates have raised their stake in Herc Holdings Inc (NYSE:HRI) to 2.92 million shares, which amass 10.33% of the stock’s float. Out of the aggregate amount, GAMCO solely holds 2.27 million shares, which account for 8.03% of the outstanding shares. As per its previous 13D filing on the company, on September 1, GAMCO Investors and its associates held 2.57 million shares, which amassed 9.08% of the company’s outstanding stock, while GAMCO alone owned 2.07 million shares, which represented 7.36% of the float.

Herc Holdings, which has recently separated from Hertz Global Holdings (NYSE:HTZ), is a holding company that offers car rental and leasing services, operating in four sectors: Worldwide Equipment Rental, International Car Rental, US Car Rental and Other Operations. In its financial report for the second quarter of 2016, Herc Holdings disclosed a loss per share of $0.28 and total revenue of $380.4 million, compared to EPS of $0.35 and total revenue of $422.7 million for the corresponding period of the previous year.


Among the investors in our database bullish on Herc Holdings (NYSE:HRI) at the end of June were David Cohen and Harold Levy’s Iridian Asset Management, with a position valued at $165.92 million, and Karthik Sarma’s SRS Investment Management, which held a position worth around $110.10 million. Some other smart money managers with similar enthusiasm included Jim Simons’ Renaissance Technologies, David Einhorn’s Greenlight Capital, Andrew Feldstein and Stephen Siderow’s Blue Mountain Capital, and Ken Griffin’s Citadel Investment Group.

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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 605,486 605,486 605,486 2.14%
GAMCO Asset Management Inc. I.D. No. 13-40445 2,115,383 2,273,575 2,273,575 8.03%
Gabelli Securities, Inc. I.D. No. 13-3379374 5,857 5,857 5,857 0.02%
Gabelli Foundation, Inc. I.D. No. 94 12,500 12,500 12,500 0.04%
MJG Associates, Inc. I.D. No. 06-1304 1,000 1,000 1,000 0.00%
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 308 308 308 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 24,385 24,385 24,385 0.08%

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Page 1 of 19 – SEC Filing

Washington, D.C. 20549
Under the Securities Exchange Act of 1934 (Amendment No. 4)
Herc Holdings Inc.
(Name of Issuer)
Common Stock, Par Value $0.01
(Title of Class of Securities)
(CUSIP Number)
David Goldman
GAMCO Investors, Inc.
One Corporate Center
Rye, New York 10580-1435
(914) 921-5000
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
______________________ September 13, 2016________________________
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box .

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