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

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Billionaire Mario Gabelli‘s GAMCO Investors continues to boost its stake in Herc Holdings Inc (NYSE:HRI) as per a newly-amended 13D filing with the SEC, in which it reported holding 3.21 million shares in aggregate with its affiliates, which amass 11.33% of the float. Out of the aggregate amount, GAMCO solely owns 2.36 million shares, which represent 8.35% of the outstanding stock. Previously, the fund and its partners held a total of 2.92 million shares or 10.33% of the float, with GAMCO solely owning 2.27 million of those shares, which accounted for 8.03% of Herc Holdings’ outstanding stock.

Herc Holdings (formerly Hertz) is a holding company that provides professional car rental and leasing services, running in four divisions: US Car Rental, International Car Rental, Worldwide Equipment, and Other Operations. In its financial report for the second quarter of 2016, Her Holdings reported a loss per share of $0.28 and revenue of $380.4 million, compared to earnings per share of $0.35 and revenue of $422.7 million for the same period of 2015. Earlier this month, Morgan Stanley initiated coverage on Herc Holdings’ stock with a price target of $57.

Mario Gabelli

11 smart money investors in our database reported having long positions in Herc Holdings (NYSE:HRI) as of the end of June. Among them were David Cohen and Harold Levy’s Iridian Asset Management, with a position worth around $165.92 million, Karthik Sarma’s SRS Investment Management, which owned a position valued at $110.10 million, 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 798,270 798,270 798,270 2.82%
GAMCO Asset Management Inc. I.D. No. 13-40445 2,204,101 2,363,827 2,363,827 8.35%
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. 5)
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 22, 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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