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.
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
