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

A newly-amended 13D filing with the US Securities and Exchange Commission revealed that billionaire Mario Gabelli‘s GAMCO Investors has further increased its stake in Herc Holdings Inc (NYSE:HRI) and that it currently holds, in aggregate with its affiliates, 2.27 million common shares, which amass 8.01% of the company’s outstanding stock. Out of the aggregate amount, GAMCO solely owns 1.82 million shares or 6.42% of the total outstanding stock. Previously, GAMCO Investors and its affiliates held 1.95 million shares that represented 6.88% of the outstanding stock, while GAMCO alone owned 1.52 million shares, or 5.37% of the shares outstanding, according to its last 13D filing.

Herc Holdings, recently separated from Hertz Global Holdings (NYSE:HTZ), is a holding company engaged in the business of renting car and leasing, running in four sectors: US Car Rental, International Car Rental, Worldwide Equipment Rental and All Other Operations. Since the company started trading on July 1st, its shares have lost 0.85%. In its first financial report, since the separation, for the second quarter of 2016, Herc Holdings (NYSE:HRI) disclosed a loss per share of $0.28 and a net loss of $8.00 million, compared with earnings per share of $0.35 and a net income of $10.6 million in the comparable period in 2015.


Billionaire Carl Icahn’s Icahn Capital LP disclosed holding 4.31 million shares of Herc Holdings (NYSE:HRI) at the end of June, which account for 15.24% of the company’s outstanding stock. For now, Icahn Capital is the only other hedge fund in Insider Monkey’s database that has filed on the company.

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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 423,102 423,102 423,102 1.49%
GAMCO Asset Management Inc. I.D. No. 13-40445 1,709,246 1,816,971 1,816,971 6.42%
Gabelli Securities, Inc. I.D. No. 13-3379374 5,532 5,532 5,532 0.02%
Gabelli Foundation, Inc. I.D. No. 94 7,800 7,800 7,800 0.03%
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 12,785 12,785 12,785 0.04%

Mario Gabelli
Mario Gabelli
GAMCO Investors

Page 1 of 18 – SEC Filing

Washington, D.C. 20549
Under the Securities Exchange Act of 1934 (Amendment No. 2)
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)
______________________ August 24, 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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